BBB Business Review
This Business is not BBB Accredited
Absolute REO Solutions, Inc. (Headquarters)
Phone: (888) 771-9222Fax: (888) 771-5255View Additional Phone Numbers400 E Randolph St Ste 700, Chicago, IL 60601-7429http://www.absreo.com
BBB Accreditation
On 06/03/2011 this company's accreditation in BBB was revoked by BBB's Board of Directors due to failure to respond to one or more customer complaints filed with the BBB and failure to eliminate the underlying cause of complaints on file with the BBB.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that lowered Absolute REO Solutions, Inc.'s rating include:
- 56 complaints filed against business
- Failure to respond to 18 complaints filed against business.
- 4 complaints filed against business that were not resolved.
- BBB Accreditation was revoked because the business failed to honor its accreditation agreement with BBB.
A recent review of consumer complaints filed with the BBB of Chicago & Northern Illinois against Absolute REO Solutions, Inc delineates a pattern of consumer allegations. Consumers allege that the company has failed to provide listings of REO properties although it had accepted payment for services. Consumers report that they waited a long period of time for the company to provide these listings, but had only received an initial welcome packet. Consumers also allege that despite the company's claim to provide a refund if they are not provided with at least one REO listing per year, Absolute REO has not honored this guarantee. According to consumers, the company's account representatives and support staff have not addressed refund requests and service issues.
Customer Complaints Summary
| Complaint Type | Total Closed Complaints |
|---|---|
| Advertising / Sales Issues | 11 |
| Billing / Collection Issues | 2 |
| Delivery Issues | 3 |
| Guarantee / Warranty Issues | 4 |
| Problems with Product / Service | 36 |
| Total Closed Complaints | 56 |
Complaint Details | Definitions | BBB Complaint Process | File a Complaint
Additional Information
topType of Entity
Corporation
Incorporated: January 2005, IL
Contact Information
Primary Contact: Mr. Sal Rosco (Senior Account Executive)Mr. Anthony Berg (Managing Director)Business Category
LocationsX
1 Locations
400 E Randolph St Ste 700
Chicago, IL 60601-7429(888) 771-9222
(847) 999-4346Directions
Industry Comparison ChartX
The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Chicago and Northern Illinois. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.
*Absolute REO Solutions, Inc. is in this range.
Types of Complaints Handled by BBB
BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:
- Advertising or Sales
- Billing or Collection
- Problems with Products or Services
- Delivery
- Guarantee or Warranty
We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.
BBB Complaint Process
Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.
Industry Tips for Financial Services
What is BBB Advertising Review?
BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.
What government actions does BBB report on?
BBB reports on known significant government actions involving business' marketplace conduct.