Become a registered vendor.
In an effort to provide the best performing vendors in the industry, Financial Asset Services requires all vendors to complete a registration and approval process. You will be required to successfully pass an industry questionnaire, and provide the following documentation:
- Current Real Estate License or Appraiser License
- Current Errors and Omissions Insurance Policy*
Said policy must be current and in good standing, and must have a minimum coverage of $1mm; or the minimum coverage as defined and set forth by the Department of Insurance in the licensee's domiciled state; or any other preemptive requirement(s) as set forth by State or municipal statute.Annual Registration Fees:
- BPO assignments only: $100.00
- BPO and REO assignments: $200.00
- Appraisal assignments: $100.00
FAS reserves the right to refuse business to any registered vendor based on performance or per a specific client request. There are no guarantees, expressed or implied, that registering on the FAS website will generate assignments. Our staff assigns orders based on the vendor's grade and proximity to the subject property.Agents and Appraisers will be graded on the following categories:
- Quality Control
For REO transactions, FAS Asset Managers will subjectively grade the following internal tasks: Listing Package documents, Monthly Status Reports, Incoming Offers and Updated BPOs.