Equator Launches Foreclosure and Bankruptcy Solution, RCN Capital Signs on as First Client

October 26, 2016
​Equator has announced a multi-year contract with RCN Capital to utilize the recently launched PRO Foreclosure and Bankruptcy solution

Equator has announced a multi-year contract with RCN Capital to utilize the recently launched PRO Foreclosure and Bankruptcy solution. This latest release in the Equator PRO line of solutions was designed specifically for mid-market customers and leverages Equator’s enterprise-class Foreclosure and Bankruptcy solution, which was developed in coordination with two top servicers and a half-dozen leading law firms. The Foreclosure and Bankruptcy solution enables configurable workflows and foreclosure milestone tracking. The solution is one of the first in the industry to provide automated digital Proof of Claims forms generation, which can empower servicers to better manage their books of business by streamlining their processes and providing much needed transparency.

RCN Capital, along with a dozen mid-market customers, utilize Equator PRO to deliver the efficiency and oversight features built for many of the country’s largest servicers and is now available in an affordable SaaS package with turnkey implementation.

“The Equator PRO solution provides us unmatched value and is easy to implement,” said Jeffrey Tesch, managing director of RCN Capital. “During our first few months of use, the support and increased efficiency we have seen with this product have been significant to the assets managed by our team.”

All of Equator’s customers will benefit from a deep nationwide network of 55,000 active real estate agents and 35,000 vendors. More than $250 billion in default transactions have been processed on Equator since its inception with $21 billion-plus in home sales processed in 2015.

“To better serve the needs of mid-sized servicers, Equator PRO is an efficient and affordable solution that leverages the sophistication of our enterprise-class software built for the largest financial institutions,” said Michael C. Schreck, president of Equator. “Equator PRO provides a SaaS solution that is easy to implement and has an attractive ROI. Onboarding can happen in days.”

Settlement