# REO Allegiance



## inhisservice4 (Jun 26, 2013)

Ok So I do small work orders for them sometimes. These are the 45 day payers. They have always paid me in the past. I have one small invoice 178 plus 78 distance fee. Its now 56 days out. No problem. Its one work order, I get one work order a month if that. My question here is why is that with them I always call to speak with accounting and she is out, or the owner has to sign the checks lol. I thought they were a national? Am I wrong? Or am I unwillingly subbing to a regional? With them I have a 20% discount. Also got a call yesterday from Field Assets vendor managment. LOL. Well we see you have done a lot of work for us in the past since 08. We got a complaint about a property you are servicing from a cordinator. I love this part " Its ok to turn work down out of your area. You have a coverage area for a reason. The cordinators are under a lot of pressure, they will tell you whatever they can to get you to do the job. Just say no if you can't. And if you make an agreement get it in writing." An admission of just how the zoo operates from internal sources. FAS actually called me from accounting and said we actually owe you from 5 months ago. I got a check at the right time. I know its a lot of info in one post, miss matched, but Im feeling hyper. And also glad I have one contract with a regional bank directly apart from the zoo life.


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## BRADSConst (Oct 2, 2012)

inhisservice4 said:


> Ok So I do small work orders for them sometimes. These are the 45 day payers. They have always paid me in the past. I have one small invoice 178 plus 78 distance fee. Its now 56 days out. No problem. Its one work order, I get one work order a month if that. My question here is why is that with them I always call to speak with accounting and she is out, or the owner has to sign the checks lol. I thought they were a national? Am I wrong? Or am I unwillingly subbing to a regional? With them I have a 20% discount. Also got a call yesterday from Field Assets vendor managment. LOL. Well we see you have done a lot of work for us in the past since 08. We got a complaint about a property you are servicing from a cordinator. I love this part " Its ok to turn work down out of your area. You have a coverage area for a reason. The cordinators are under a lot of pressure, they will tell you whatever they can to get you to do the job. Just say no if you can't. And if you make an agreement get it in writing." An admission of just how the zoo operates from internal sources. FAS actually called me from accounting and said we actually owe you from 5 months ago. I got a check at the right time. I know its a lot of info in one post, miss matched, but Im feeling hyper. And also glad I have one contract with a regional bank directly apart from the zoo life.


REO used to be a 45 day payer. Not so much anymore. More like 60+ and then calls/emails to request the check.


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## tak (Dec 28, 2012)

NFN is that same way......60 day payers and You have to track down that check! Shouldn't have to do that..as a small mom and pop the money they owe is worth tracking down over 15K ! I would never again get with 60 day payers. Being a National you should have that bank roll so you can pay your vendor in a 30-45 day period. Hell if they can pay their employees every 2 weeks consistently off our money why do we have to wait so damn long !


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## inhisservice4 (Jun 26, 2013)

*Right*

Yes, I think they are a national by coverage, but not by volume. They are a woman owned business so they are required by law to get some work, they only give me FHA way out in the middle of nowhere once in a blue moon.


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## BRADSConst (Oct 2, 2012)

tak said:


> NFN is that same way......60 day payers and You have to track down that check! Shouldn't have to do that..as a small mom and pop the money they owe is worth tracking down over 15K ! I would never again get with 60 day payers. Being a National you should have that bank roll so you can pay your vendor in a 30-45 day period. Hell if they can pay their employees every 2 weeks consistently off our money why do we have to wait so damn long !


Most of them are figuring out the financial incentives for NOT paying promptly. Factor in 10's of thousands of work orders sent weekly. Now factor in they are being paid every 15-30 days. They are holding YOUR money in an interest bearing account, even if its for only 30 days. That's some serious coin when talking about large deposits.........


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## UnitedFieldInspections (Dec 20, 2012)

tak said:


> NFN is that same way......60 day payers and You have to track down that check! Shouldn't have to do that..as a small mom and pop the money they owe is worth tracking down over 15K ! I would never again get with 60 day payers. Being a National you should have that bank roll so you can pay your vendor in a 30-45 day period. Hell if they can pay their employees every 2 weeks consistently off our money why do we have to wait so damn long !


Its the same way i felt all of these years.


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## Splinterpicker (Apr 18, 2012)

tak said:


> NFN is that same way......60 day payers and You have to track down that check! Shouldn't have to do that..as a small mom and pop the money they owe is worth tracking down over 15K ! I would never again get with 60 day payers. Being a National you should have that bank roll so you can pay your vendor in a 30-45 day period. Hell if they can pay their employees every 2 weeks consistently off our money why do we have to wait so damn long !


Its VERY COMMON way of doing business. Its called an OPM OTHER PEOPLES MONEY structure. When you go in and have to put a down payment on that new cam for your 383 Bored and stroked 68 camaro that is the parts houses COST of the part ! NO RISK on their part:lol:


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## MYMONEY1 (Aug 2, 2013)

gosh love those guys at NFN. They can afford their annual convention down in Dallas, a company party a week before ..... and I'm broke because they owe me over 15k . Im bout to start making some Noise !!!


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