Equi-Trax Asset Solutions LP, a national collateral valuation provider offering a line of hybrid valuation products, has announced the release of its new Current Listing Search (CLS) product. CLS can quickly scan a servicer’s entire portfolio to determine which properties are currently on the market, alerting the servicer to potential short sale, loan modification or portfolio retention opportunities. “We’ve tapped our nationwide network of real estate professionals for information that servicers need right now,” said Guy Taylor, Equi-Trax CEO. “Knowing when a property hits the market is critical for companies that want to keep that asset in their portfolios. In the past, servicers have had to resort to begging their customers or bartering home valuation data for information about their future real estate plans. Now, servicers can know as soon as the information hits the MLS.”
The new product provides information gleaned from approximately 72 percent of all multi-listing services in the country and covers most major Metropolitan Statistical Areas. Unlike other reports that simply identify properties that are on the market, the Equi-Trax CLS returns the Last List Date, Last Listing ID, MLS Board ID, Broker Name, Broker Phone Number, and Broker E-mail, when available from the MLS. This information can be imported in the servicer’s contact database so the servicing retention team can take swift action.
“This is a very affordable way for servicers to analyze their portfolios with an eye toward keeping good loans,” Taylor said. “If a borrower is putting a home up for sale because they think they’re in trouble, the servicer needs to know this at the earliest possible moment so they can keep the borrower in the home, keep the loan current and or proactively facilitate a short sale. If the borrower is moving, it constitutes a hot mortgage sales lead for the originator.”
For more information, visit www.equi-trax.com.