FAQ OnlineBPO Process

Transcription

1 FAQ OnlineBPO Process Meridian Asset Services, Inc. Page 1

2 Contents Section 1: General Form Guidelines...4 Section 2: General Form Guidelines...4 Section 3: Photo Requirements...5 Section 4: Photo Naming Convention...6 Section 5: Comparable Choices...6 Section 6: Value Determination...6 Section 7: Payment...7 Section 8: Becoming a MAS Preferred Agent...7 Section 9: How to Install Silverlight required for processing BPO...8 Section 10: BPO Assistance Section 11: Technical Support OnlineBPO User s Guide Agent Receives Notification Agent Accepts or Decline BPO Agent Completes Property Details Agent Completes Neighborhood Data Agent Completes Comparable Sales Agent Completes Comparable Listings Agent Completes Repairs Agent Views Maps Agent Uploads Photos Agent Saves Changes and Submits BPO Agent Corrects Information, Saves Changes and Submits BPO Agent Successfully Submits BPO Meridian Asset Services, Inc. Page 2

3 Technical Support Meridian Asset Services, Inc. Page 3

4 Section 1: General Form Guidelines Screen resolution: 1024x768 or higher Browser Text Size: Medium Browser Zoom Level: 100% Section 2: General Form Guidelines Please answer all questions on this form to the best of your ability. While all necessary data is not always available, we ask that you do your best to estimate unknown figures. An error will appear in the form if a mandatory field is left blank. Please fill in with NA or unknown or 0 depending in the question to provide acknowledgement that the question was answered. Pull upon your local market knowledge to help give us insight into how your local market performs. This allows us to determine typical marketing times and REO saturation in your area. If you have any questions or if you are unsure of how to fill out any section of the form, you are welcome to give us a call and we will be glad to assist you in completing the form. Please save frequently, by clicking on the Save Changes button, and prior to changing between tabs for best results. There is an automatic save function; however, you cannot submit the form with unsaved changes on any tab. It is frustrating to lose data, if you do lose any data that you have entered, please let us know and we may be able to recover it prior to re-typing a report. After opening the OnlineBPO screen, if system prompts with messages: Do you want to view only the webpage content that was delivered securely? Reply No Do you want to display the nonsecure items? Reply Yes. Selection of correct answer is required for the map to show for the Comparable Sales and Comparable Listing properties. If you have any suggestions, concerns or improvements to the bpo, we would like to hear your feedback. Meridian Asset Services, Inc. Page 4

5 Section 3: Photo Requirements Without the requisite number of photos, our form will not allow you to submit your BPO. Please note that these requirements are only a minimum. We encourage you to take as many photos of the subject property as possible. The more photos the better! A minimum of 10 photos are required with exterior BPOs. A minimum of 36 photos are required with interior BPOs. Exterior BPO should include: At least 1 clear and unobstructed photo of the front of the property. At least 1 clear and unobstructed photo of the address of the property. As many additional photos of the subject exterior as possible from different angles. 1 photo of the street in each direction from the subject property. Photos of any issues such as vacant and boarded neighboring properties, boarded doors/windows on the subject, site influences such as water front views or power lines, etc. 1 photo of each comparable from your local MLS. Interior BPO should include: Please provide all of the exterior photos listed above under Exterior BPO. At least 1 photo of the rear of the property. As many photos as necessary to capture the exterior landscaping, all outbuildings, pools, decks, etc. At least 1 photo of each room, including bedrooms, bathrooms, kitchens, dens, offices, utility rooms, garages, living rooms, dining rooms, entertainment rooms, etc. Photos of any damages noticed in the property. Additional photos of features of the property that may hinder or aid in the overall marketability of the subject property. Meridian Asset Services, Inc. Page 5

6 Section 4: Photo Naming Convention Our photo system does not accept special or non-alpha numeric characters in the photo file name. If the photos tab appears frozen or not uploading the photos, please check the name of your photo, if there is a special character in the file name, you can delete the photo which will allow the system to continue to upload the additional #, $, %, ^, &, *, (, ) Any characters that are not A-Z or 0-9 may also impact your ability to upload photos. If you have checked for this and are still having difficulties uploading photos please call (727) Section 5: Comparable Choices Sold comparables should be from within the last 3 months if possible and 6 months maximum. Exceptions would apply for extreme rural areas and slow markets. Listings with more than 365 DOM should not be used, unless they are the best comparables available. Sold and Listed comparables should best reflect market pricing for subject and a value range should be within a 20% variance if applicable. If a larger variance is needed between comps chosen, please describe in the marketing comments the conditions that cause a large price variance for similar homes Square footage for comparables should be within +/-20% of subject. Lot size variance should be as similar to subject as possible with no more than 40% variance. Please verify accuracy of comparable distances please do not estimate Please Provide GLA, lot size and age from an authoritative source (public records, MLS) if at all possible. Use appropriate comparables for Market conditions. If market is REO driven comparables should reflect this type of market. Please also include relevant distressed properties, even in more stable markets, when they apply to subject. Section 6: Value Determination Choose comparables that support the opinion of value. For example, do not use 6 comparables at $500k and value the subject property at $300k. If the subject property is listed, value should not be over current list price without a detailed description for why this value is inaccurate. The Quick Sale Value should be below The Retail Value. Recommended List Price should be above The Estimate Retail Value. If you have any questions about these guidelines, feel free to contact us. Meridian Asset Services, Inc. Page 6

7 Section 7: Payment BPO Accounting terms are net 45, and the process begins the day the BPO is received. To ensure timely payments, we need a current W9 form. Please submit your W9 to MASW9@meridianassetservices.com. If you have completed work for Meridian in the past, we should have a copy of your prior W9 on file, and a new one would not be required unless a change is needed. W9 s are securely stored by accounting, and are used solely by accounting. Section 8: Becoming a MAS Preferred Agent Our approach to asset management is based on our belief that no detail is too small. This belief is mirrored in our sustained vendor relationships. Performance expectations from agents, brokers, contractors, attorneys, closing and escrow companies are the highest in the industry. We have earned the allegiance of these business professionals through open communication, mutual respect, fair treatment and appreciation for the services they provide. For more information about Meridian Asset Services, please visit us at The BPO which you are working on is only a small part of the services that we offer to our clients. We are always looking for additional preferred listing agents across the country to list both REO and Short Sale properties for us. Our system is set up to track not only the number of BPOs that you complete for us, but also their accuracy, timeliness, and level of detail. We will be using this information to choose agents across the country for all company needs. Meridian Asset Services, Inc. Page 7

8 Section 9: How to Install Silverlight required for processing BPO Step 1: On the CAM Photos screen, click on the Install Microsoft Silverlight icon Meridian Asset Services, Inc. Page 8

9 Step 2: File Download prompt Step 3: Microsoft Silverlight Control Installer Step 4: Install Silverlight 3 Meridian Asset Services, Inc. Page 9

10 Step 5: Installation successful prompt Congratulations! You have successfully installed Silverlight and can now upload photos. Section 10: BPO Assistance While working the BPO if you need support completing the BPO, please contact the Meridian Asset Services BPO Support team at (727) Section 11: Technical Support For further information or support please contact the Meridian Asset Services IT Support team at (727) Meridian Asset Services, Inc. Page 10

11 OnlineBPO User s Guide Meridian Asset Services, Inc. Page 11

12 Agent Receives Notification The agent will receive two s from Meridian Asset Services, Inc. (MAS). 1. The first contains the address, fees, due dates, userid and link to record the BPO information. Meridian Asset Services, Inc. Page 12

13 2. The second contains the password used for the login. Meridian Asset Services, Inc. Page 13

14 Agent Accepts or Decline BPO When the agent clicks on the link from the and enters the username and password provided the final acceptance for working the order occurs. The agent may either accept or decline the BPO work at this point. If the agent accepts the work, the online screens are provided to the agent for completing the work and submitting back to MAS for review, acceptance and payment. Should the agent decline the work, the pending order will be closed and re-assigned to another agent by a MAS representative. The agent must click Accept to complete the BPO information. Meridian Asset Services, Inc. Page 14

15 Agent Completes Property Details The BPO is divided into sections. Each section must be completed before submitting back to MAS. The first section at the top of the screen is the Property Detail information. After the property detail is completed it is suggested to select the Save Changes button before proceeding to the next tab: (Neighborhood Data). Meridian Asset Services, Inc. Page 15

16 Agent Completes Neighborhood Data Neighborhood data contains pertinent information about the property s location, market conditions, and historical transactions for the subject. Enter in the requested information, and select the Save Changes button before proceeding to the next tab: (Comparable Sales). Meridian Asset Services, Inc. Page 16

17 Agent Completes Comparable Sales Information from the Property Detail and Neighborhood data will be pre-populated in the Subject column if applicable. For example, Original List Price will display, had the property been sold within the last 12 months, from the Neighborhood tab. MAS is requesting information regarding three comparable sales. After the information is complete, again select the Save Changes button before proceeding to the next tab: (Comparable Listings). Meridian Asset Services, Inc. Page 17

18 Agent Completes Comparable Listings Information from the Property Detail and Neighborhood data will be pre-populated in the Subject column if applicable. For example, the number of bedrooms will display from the Property Detail section. Three comparable listings are required. After the information is complete, again select the Save Changes button before proceeding to the next tab: (Repairs). Meridian Asset Services, Inc. Page 18

19 Agent Completes Repairs Some properties may need to be refreshed, repaired or refurbished to make it lendable or more marketable. Information regarding repairs should be provided in this tab. Please populate with any repairs that are visible for either an interior or exterior BPO. After the information is complete, select the Save Changes button before proceeding to the next tab: (Maps). Meridian Asset Services, Inc. Page 19

20 Agent Views Maps There is no information required from the agent on the Maps screen. The map displays the Subject property in yellow, along with the three listed and sales properties provided from the comparable tabs. Meridian Asset Services, Inc. Page 20

21 Agent Uploads Photos Without the requisite number of photos, our form will not allow you to submit your BPO. There is a minimum of ten (10) required photos for an exterior BPO and a minimum of thirty-six (36) required photos for an interior BPO. Please reference our BPO Guidelines and Frequently Asked Questions (FAQ) for additional photo requirements. When the Photo button is selected the following screen is displayed. Select the Upload Photos button to proceed with uploading your photos. Next select the photos from the folder on your computer where stored. You can select a group to upload or upload individually. It is suggested to store all photos for one property in a separate folder to easily retrieve and upload. Meridian Asset Services, Inc. Page 21

22 After the photos have been selected, indicate the photo type and provide a brief description, then select the Upload button. As the photos are uploaded there is a progress symbol indicating upload is occurring. When the upload completes, all photos will be displayed. The agent can re-arrange the display by selecting a photo and moving to another location, or delete a photo by selecting and clicking the red X to confirm deletion. At this point the agent can either opt to select the Close button indicating photos have been uploaded or select Upload Photos to upload more. After selecting Close the user returns to the online BPO form. Meridian Asset Services, Inc. Page 22

23 Agent Saves Changes and Submits BPO After all the data has been provided regarding the BPO. First select the Save Changes button. Then select the Submit BPO button and click OK to submit. Agent Corrects Information, Saves Changes and Submits BPO If information is missing messages will displayed to indicate what is required and will be identified by a red * next to the field. The agent can correct the required information on each tab, select Save Changes and Submit BPO again. Meridian Asset Services, Inc. Page 23

24 Agent Successfully Submits BPO When the BPO is successfully submitted without errors the following screen is displayed. A MAS representative will review and approve the work performed. Technical Support For further information or support please contact the Meridian Asset Services IT Support team at helpdesk@meridianassetservices.com (727) Meridian Asset Services, Inc. Page 24