Field Asset Services (FAS), a provider of field services to the real estate-owned (REO) industry, has announced the availability of Collateral Command, an integrated solution for property management services and support. Collateral Command offers lenders and servicers a single source for the full spectrum of services required to manage their growing inventory of foreclosed and REO properties. In conjunction with the release of Collateral Command, FAS is also announcing the availability of their new Utilities Management Service offered as part of the Collateral Command suite.
“Servicers are faced with numerous challenges as they try to manage the abundance of REO properties or ‘collateral’ under their control,” said Dale McPherson, president and chief executive officer of FAS. “Collateral Command was created to simplify this daunting task by providing a single source from which to access the most important services needed to maintain a foreclosed or REO property. In addition, by integrating the use of advanced technology and support from FAS’s experienced staff, we are able to continue our tradition of delivering these high quality services at a fair, flat rate.”
With the number of foreclosed and REO properties growing daily, banks’ and servicers’ need for multiple vendors offering a range of services has increased along with the probability of mistakes or fraud occurring in the field. Collateral Command eliminates the risk of having an array of vendors performing separate servicing activities in an uncoordinated manner by providing a single, integrated solution with centralized coordination and management through FAS’s work flow management system, FASConnect. This approach allows banks and servicers to securely offload the day-to-day tasks associated with REO property management and focus on growing their core business.
“There are numerous unoccupied properties in the market today,” said David Friedman, chief executive officer of American Home Mortgage Servicing in Irving, Texas. “Given the sheer volume, the competition to market and sell these properties is at an all time high. Property preservation services, offered as an integrated solution, can make the difference and potentially remove the stigma associated with an REO and reduce the days on market for the property.”
For more information, visit www.fieldassets.com.
