Posted by CaNotarygirl on 9/15/10 4:18pm
Msg #352793

Nreis

I Receive the following letter from NREIS today:

Thank you for continued business and involvement with National Real Estate
Information Services. We realize the past year has been difficult and that we’ve
fallen behind on our payments to you. We apologize for this and we realize that
in order to succeed as a business we need to develop and maintain strong
relationships with our vendor community.
Like many companies in our industry, we suffered through the recession and
subsequent slow recovery. The good news is that we survived and our
performance has begun to recover. We have negotiated a new credit facility with
our lenders and we are positioned to grow and succeed. As a result, we are
engaging in our best efforts to bring your outstanding balance current. You will,
or should have already, received a partial payment on your outstanding balance
with the remainder to come in the near future. We will reach out again at that
time to discuss terms and our future partnership.
Sincerely,
Mike Forgas
President
Phone: (412) 921-7400
Toll Free: 1-800-753-3339
Fax: 877-298-4434

I just wanted to share.

Reply by James Dawson on 9/15/10 4:24pm
Msg #352794

Re: Nreis - 'NEAR FUTURE" ? n/m

Reply by MW/VA on 9/15/10 4:26pm
Msg #352796

I stopped working with them a while back, but I support their efforts to make good on all outstanding money due. Many have posted that NREIS has caught up with their payments due them.

Reply by Marian_in_CA on 9/15/10 4:31pm
Msg #352797

"We have negotiated a new credit facility..."

What in the world does that mean?


Not that I work for them anyway.

Reply by TacomaBoy on 9/15/10 4:45pm
Msg #352800

Re: "We have negotiated a new credit facility..."

I'm an ex-banker & L/O. Negotiating a new loan facility usually means that the bank(s) are nervous about getting repaid by NREIS. So, NREIS probably offered to pledge more or better collateral for their existing short term Operating Line of Credit. Otherwise the bank(s) may have forced NREIS into receivership (Bankrutcy).

Reply by Les_CO on 9/15/10 4:52pm
Msg #352802

Re: "We have negotiated a new credit facility..."

Yeah…their “new credit facility” is us! Works great. Thousands in credit and not a penny of interest paid (and in some cases no principal) Where can I get a loan like that?

Reply by Marian_in_CA on 9/15/10 4:53pm
Msg #352803

Thanks for that... yeah it sure sounded as if they were

trying to put a positive spin on something rather bad.

Reply by TacomaBoy on 9/15/10 5:04pm
Msg #352806

Re: Thanks for that... yeah it sure sounded as if they were

I doubt if NREIS is TOO BIG to fail. I'm sure Obama won't pull out of the fire. I wish them all the luck with the bankers and I hope they succeed!

Reply by Bob_Chicago on 9/15/10 4:44pm
Msg #352799

I stayed with them and am happy that I did so. I have

received many thousand dollars from them since the beginning of the year, and with
no hassle.
Admittedly some payments took a bit longer thananticipated , but I am ok with that so
long as I didn't have to resort to any collection efforts in order to get paid.

Reply by Susan Fischer on 9/15/10 5:09pm
Msg #352807

Ditto, Bob. n/m

Reply by SOCAL/CA on 9/15/10 5:24pm
Msg #352811

Re: Ditto, Bob.

If you take $90.00/wedocs per signing, hurrah for you!

Reply by Susan Fischer on 9/15/10 10:03pm
Msg #352838

What gave you that idea? n/m

Reply by Stoli on 9/16/10 9:35am
Msg #352864

SoCal pays $85 w/e-docs. What's your point? n/m

Reply by Donna McDaniel on 9/15/10 5:41pm
Msg #352814

Re: I stayed with them and am happy that I did so. I have

I just began to take assignments from NREIS again. I too am rooting for them to succeed. There is a great bunch of people who work there. I will continue to accept most assignments from them, albeit cautiously.

Reply by BillyJack/NC on 9/15/10 5:44pm
Msg #352816

Re: I stayed with them and am happy that I did so. I have

Thanks Donna! I did the same, and feel the same way.

Reply by BakersfCA on 9/15/10 6:16pm
Msg #352822

Re: I stayed with them and am happy that I did so. I have

I haven't been paid for work from June on. I called and they said we sent a check for your June signings. I told them I haven't recieved it. She said people are calling her all the time saying they never recieved their checks and that they have sent them. If so many people are telling you they never got their check sounds to me like they were never sent in the first place. I have sent invoices and called. So, I'm not happy I stayed. I won't be doing work for them again.

Reply by Donna McDaniel on 9/15/10 6:24pm
Msg #352826

Re: I stayed with them and am happy that I did so. I have

'She said people are calling her all the time saying they never recieved their checks and that they have sent them.'

Doesn't sound very professional to me. Who was it that you spoke to?

Reply by Pamela Hoyle on 9/15/10 10:17pm
Msg #352839

Re: I stayed with them and am happy that I did so. I have

They gave me a chance five years ago when I was first starting and at one time were my bread and butter. I have cautiously started taking assignments from them again, but only those that are really close by or just mods so that they won't cost me too much in time/gas in the event the worst happens. Hoping that they get back on their feet again and will reward loyalty.

Reply by MichiganAl on 9/15/10 11:34pm
Msg #352848

I stayed with them too

They don't always meet my fee, but sometimes they do (won't work for $85 or $90). They got about 3 - 4 months behind on a couple of closings, but they caught up and seem to be back on time.

Reply by Lee/AR on 9/16/10 8:46am
Msg #352861

Doesn't anyone remember

that this is the company that always used to pay at least $125 then arbitrarily decided to drop it to $90--and everyone was yowling. Now y'all want to help them stay in business even tho' they are scary-slow paying?

Reply by LkArrowhd/CA on 9/16/10 9:04am
Msg #352862

Consider the source, as always

While the forum offers information one might not read elsewhere, it all boils down to one person's opinion. I seldom read the forum anymore but occasionally peek in. Over the years this forum has gone through many interesting changes. The posters that used to post on a very routine basis years ago, seldom post anymore. When I see a notary posting almost nonstop, well lets face it, how busy can he or she be. I never understand the notary that is six months out on collecting a payment, how does the notary even allow that to happen. Payment, 30 days or less or you are done, how complicated is that?

Reply by SOCAL/CA on 9/16/10 10:07am
Msg #352869

Re: Doesn't anyone remember

Lee got it right. How in the world can you chase your money for six months before being paid.
Then say, "I will give them another chance",. I don't get it.

Reply by MichiganAl on 9/16/10 12:04pm
Msg #352891

Re: Doesn't anyone remember

Never had to chase them. As I said, they only got behind on a couple (and they rectified it on their own before I even contacted them) and I don't do $90 closings for them. They don't always agree to pay my fee, but when they do, I'm happy to work for them.

Reply by MichiganAl on 9/16/10 12:12pm
Msg #352894

Oops, hit enter too soon on this one. n/m

Reply by MichiganAl on 9/16/10 12:11pm
Msg #352893

Re: Doesn't anyone remember

Never had to chase them. As I said, they only got behind on a couple (and they rectified it on their own before I even contacted them) and I don't do $90 closings for them. They don't always agree to pay my fee, but when they do, I'm happy to work for them.

The thing is, I base my business on my own experience. If I've worked for a company for years without issue, then that carries a lot more weight than what others say about their own experience. They were good to me, so I stuck with them. I don't regret that for a second.

Reply by Donna McDaniel on 9/16/10 1:09pm
Msg #352905

Totally agree, Michelle

Business relationships are different for each individual. I'm not willing to burn that bridge either.

Reply by James Dawson on 9/16/10 12:48pm
Msg #352900

Re: Doesn't anyone remember

I also find that interesting Lee......fifteen mile of post about them regarding poor payment while at the same time supporting them.

There is a company that I love to work for, very pleasant. One of my first. I felt bad telling them I couldn't afford to work for them,..but I did.