I tried a few times and it was uber frustrating i just never went there again.. and being an agent representing a buyer it was painful.. your buyer is e mailing you everyday wanting updates.. listing agent wont communicate becasue they are swamped and have nothing new.. it was very unproductive way to sell inventory.. but we had to remember this was a crisis and banks simply / and servicing or asset managers simply did not have the man power to deal with it all.. 

You probably underestimate the cost of creating and maintaining an MLS, and the man power associated with doing so though.

Hey GuysFirst time here, I LOVE the site.I'll get right to the point.I have flipped 4 houses, all recently, all in Central FL and all went well :)I have two more I'm working on and I had some REO offers out there.I got a third offer accepted but I do not have the manpower to do it and I'd rather do my other two well than three badly so I want to wholesale this one.Here it is.I put an offer on a 4/3.

Perhaps they are just inundated with limited manpower.

That would be a disadvantage if you already have the man power to do it yourself.

They don't have the man power to investigate them all without proof or strong evidence.

If the penalty is small (1/12th of a fixed limit) the stick is not big enough to force them to throw a ton of manpower at it.

I have the manpower to have this house rehabbed and back on the market in two months, hopefully sold in 4-6.What kind of offers would you make to your 'silent partner, hands off' investor?

Banks finally have the man power (somewhat) & want to minimize their losses.

They do not have the man power or the desire to build long term relationships.