Chase is among the largest holders of Real Estate Owned, or REO, properties -- and whether you're a real estate agent, broker or an asset manager, having your company listed as an approved vendor can increase your bottom line exponentially. Chase has adopted an extensive "Code of Conduct" (see "Resources") that vendors are subject to, which mandates investigation of possible conflicts of interest. While the vendor application process is straightforward, the verification process can be lengthy. Be prepared to wait several weeks for approval.
Instructions
1. Navigate to the Chase Commercial Bank REO webpage (see "Resources") and click the "Vendor Application Form" link in the center of the page. Open and print the application document; use it as a checklist for preparing your package.
2. Ensure you have the necessary insurance and bonds. Chase requires proof of general, employer and automobile liability, as well as fidelity bonds and workers' compensation insurance. Refer to the "Vendor Application Form" for minimum coverage and bond requirements.
3. Prepare a sample of your company's monthly reporting package; this is the crux of your vendor application. Attach brochures and/or resumes, corporate "Certificates of Good Standing" from every state for which you're applying and copies of all applicable licenses. Chase requires you to submit the managing broker's license with the sales licenses. Complete the "Vendor Application Form," and include copies of your insurance certificate and a list of references to complete your vendor application package.
4. Convert your "Vendor Application Form" and all the accompanying documents to a digital format and email the package to "REOProperties@Chase.com." Chase will notify you when you have been approved as a vendor; this may take several weeks, as they will verify your documentation in detail. Once approved, your company will be included in Chase's active vendor file to be contracted on an as-needed basis.
