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Equator Launches Three New Short Sales and REO Products

NationalMortgageProfessional.com
Feb 18, 2011

Equator (EQ), a software provider of default servicing solutions, now offers lenders and servicers three new modules: Loan Segmentation, REO Segmentation and Invoice Management. "These new modules will seamlessly interface with existing modules to offer a best in class, end-to-end default suite to assist servicers with upcoming inventories," said Equator Chief Executive Officer Chris Saitta. "With the velocity and frequency of loans flowing into the foreclosure bucket this year, the need for servicers to adopt a Delinquent Loan Segmentation module is paramount," said Chief Operating Officer John Vella. "By using Equator's new Loan Segmentation module at the 60-120 day bucket of delinquency, servicers will be able to route the right loan to the right person early on in the delinquency to insure optimal outcome for the loan." Within the Loan Segmentation module, servicers will also be able to analyze key data variables from the loan and the borrower and combine it with market data and history, so that loans can be channeled through a retention or liquidation strategy. The end result is the optimum workout path based on the borrower, market and loan data accompanied by an NPV. "This new module takes months off the timeline of a workout and improves severity as well as customer service while increasing scale for the servicer," said Vella. With an increase in REO expected in 2011, Equator is offering an REO Segmentation module which can be used for managing disposition strategies for REO properties by analyzing market and property data, and producing the desired disposition path such as: Rental, hold, quick sale, repair, donate or auction. From there, the module determines the expected net proceeds per disposition strategy to support its recommended disposition method. Equator's third new product, an Invoice Management module, is now available for all existing Equator clients as well as companies seeking to leverage Equator's industry expertise. Users will benefit from a full investor-based rules engine, enhanced communication between parties and a complete end-to-end paper trail which provides unprecedented audit control. Users can also set auto-approval thresholds for the system to immediately approve invoices that fall within the pre-specified parameters, saving time and money. For more information, visit www.equator.com.  
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