Power Broker FAQ

How long does the application review process take?

We will be processing and reviewing applications as quickly as possible on a first-come, first-served basis. The review process may take up to 30 days from the date the application is received.

How many Power Brokers will you be accepting per territory?

Ideally, 1 -2 Power Brokers per territory. The coverage area for a given broker, the number of agents they are working with, and the volume of REOs in the territory are all contributing factors that will determine the exact number.

What is the deciding factor in determining if my application will be accepted?

Applications will be reviewed based on many criteria, such as timeliness of application submission, REO Experience, a clean background check, proof of funds, and coverage area, to name a few.

Is the information I upload into OrangeGrid secure?

OrangeGrid's client base requires that we adhere to strict security requirements. The data in our system is confidential, and we are required to be AICPA SOC certified and compliant for annual technology audits.  

Why do you need my Social Security Number?

Your social security number is required to complete background checks. We will conduct thorough reviews as we evaluate the panel and are looking for specific things like no felonies related to fraud or theft on record.

Why do you need my EIN?

Your EIN will be used to confirm that your company is federally registered as a business.

Why do I need to put my credit card, and how does the digital wallet work?

The credit card you put on file will be used for application charges and the technology fee associated with each listing you receive through OrangeGrid. The digital wallet will need to have enough funds in it to cover fees as they are incurred. The system will always prompt you with the dollar amount deducted from your digital wallet before every charge.

What does the $450 application fee cover?

The $450 application fee is a processing fee that will cover the data collection, background review, and analysis that is required during the application review process. Each territory, defined as a county that a Power Broker would like to cover, will require its own application fee.

When should I expect to start receiving REOs?

The anticipated REO referral start date is in Q1 of 2023. We will keep all registered and approved members of the Power Broker network updated as REO clients are added to the system.

What is the REO technology fee cost for each asset assigned to me or one of my agents?

Upon receipt of an REO listing through OrangeGrid, your digital wallet is charged a technology fee of $175. This fee is refundable if the listing is canceled within the first 90 days.

Can I refer a broker outside of my brokerage network?

Yes, if you know a broker that meets our strict criteria and would like them to apply, send an email to gridsource@orangegrid.com so we can send them the application link.