Skip to main content

Equator Reports 500,000-Plus Short Sales Initiated and $100 Billion in Assets Sold

NationalMortgageProfessional.com
Dec 28, 2010

Equator (EQ), a provider of default servicing solutions, has announced that more than $100 billion in assets have been sold through its platform since 2003, and more than 500,000 short sales have been initiated since its launch of the industry's first comprehensive automated short sale solution last year. "This quarter was very busy, with many lenders and servicers looking to adopt proven technology solutions in anticipation of the increased volumes and compliance that 2011 will bring," said Chief Executive Officer Chris Saitta. According to its fourth quarter report, Equator continues to see substantial growth with its Short Sales and HAFA solutions. "Our Short Sale and HAFA Workstations continue to provide servicers with a viable foreclosure alternative by generating faster responses and decisions, thereby offering impressive cost savings," said Chief Operating Officer John Vella. "With over 140,000 HAFA initiations to-date, and over 40,000 of those coming in Q4, Equator's HAFA Workstation remains the most popular HAFA automation on the market," said Vella. Equator also plans to offer several new modules in 2011 which will seamlessly interface with existing modules to offer a best in class, end-to-end default suite to assist servicers with upcoming inventories. Founded in 2003, Equator is a provider of software solutions for the default servicing industry. Three of the top five financial institutions currently use Equator’s platform. Equator's REO, Short Sale and Loss Mitigation platforms have processed more than $190 billion in transactions. Currently, the EQ Marketplace hosts more than 740,000 agents, 22,000 vendors and 24,000 sellers, contributing to 212,000 transactions per day. Equator is headquartered in Los Angeles with offices in Dallas, Denver, Irvine, Calif., and Portland, Ore. For more information, visit www.equator.com.
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021