These memos are posted to ensure that our contractors are getting up-to-date information on significant issues. We welcome any comments or questions regarding the memo feature.

Memo 1134 REO Quality Control Inspections
To: All Inspectors
From: Vendor Management

Recently we have revamped the REO Quality Control Inspection (work code FINTH) script on INSPI2. This was done in order to gain more detailed information on the REO initial services performed at properties. Receiving these inspection results within 48 hours is key to addressing the issues that are seen with the REO services before they result in a broker or client concern. In addition to making the changes to the QC inspection on REO properties, we have reiterated the importance of quality to our REO contractors in Memo 1126 Maintenance Maid Services.

We are asking additional questions that relate to specific items that need to be addressed on REO initial service orders. For properties that our clients own after foreclosure (REO), our client's objective is to market the property as quickly and economically as possible. Therefore, REO properties must be in marketable condition at all times to provide the client the expected service level. In order to ensure that this is being achieved, QC inspections will become more frequently ordered as we are routinely quality checking each REO property a minimum of every 30 days.

Marketable condition does not simply mean that the property is free and clear of debris. Aside from a property being trashed out and having maid services completed, it is necessary to report other conditions that may affect a property's marketability. For example, we need to report the condition of the foundation and gutters as well as report if an air freshener is present at the property. These are just a couple of the new questions that are now asked on the QC inspection. As requested previously, any issues reported must be photographed for review.

Since all scenarios at a property cannot be addressed with specific questions please be sure to provide your opinion on what the home would need if you were the potential interested home buyer.

Should you have any questions on REO QC inspections, please contact Lisa Payton ext 1370 , Carol Flowers ext 1299, or Ed Harmon ext 1281.