Stewart Launches New REO Solution – NMP Skip to main content

Stewart Launches New REO Solution

NationalMortgageProfessional.com
Aug 03, 2011

Stewart Lender Services (SLS), a wholly-owned subsidiary of Stewart Title Company, has developed a boutique asset management and disposition solution for community banks. The focus is maximizing the value of each bank’s assets in the shortest amount of time. By using a proactive approach, starting as early in the pre-foreclosure process; preserving the property upfront; maintaining the condition; and accurately valuing the asset from the onset, Stewart reduces a bank-owned property’s days in real estate-owned (REO) status to save its clients time and money. Stewart’s approach combines a disciplined metric-management methodology with the ability to customize the process and strategy for each individual asset. “Community banks have very valid concerns about the disposition of bank-owned properties given current market conditions,” said Michael Harris, senior vice president of Stewart Lender Services (SLS). “Stewart’s solution provides customers with assurance that all their assets are handled in the same high-quality manner. Additionally, we ensure that all vendor partners are up to date and in compliance with local laws and regulations regarding vacant properties.” In addition, building relationships through one-on-one communication to fully understand each community bank’s individual requirements helps Stewart to tailor its processes to meet the specific needs of each customer.  “Community banks have a great deal of apprehension over value reconciliation,” said Harris. “Determining the value of an REO property is critical. Most clients still rely on the appraisal ‘cost’ approach vs. the direct sales comparison, i.e. ‘market’ approach of a Broker Price Opinion (BPO). We value a property accurately from the onset to save time and money for our client.”
Published
Aug 03, 2011
Ginnie Mae Exits The Stone Age And Embraces Blockchain

'Some of the procurement stuff that we do, maybe it’s archaic, maybe it needs to be innovated.'

Industry News
Jan 26, 2022
Katten Partner To Head Women In Securitization

Katten announced that Claudine Chen-Young, a partner in its Structured Finance and Securitization practice in Washington, is the newly named chair of Women in Securitization.

Industry News
Jan 26, 2022
AFR Adds Director Of Marketing

American Financial Resources, Inc. named Lauren Blackburn as its director of marketing, where she will be tasked with driving the company's marketing strategy.

Community
Jan 26, 2022
KBRA Assigns Preliminary Ratings To CSMC 2022-NQM1 Trust

Kroll Bond Rating Agency assigned preliminary ratings to CSMC 2022-NQM1, a $553.7 million non-prime RMBS transaction sponsored by DLJ Mortgage Capital, Inc.

Non-QM
Jan 25, 2022
Hunt Mortgage Appoints Chief Operating Officer

Bindiya Jain previously has served as a vice president at South Shore Bank and at UniBank for Saving. 

Industry News
Jan 25, 2022
Guild Mortgage Names VP Of Marketplace Diversity Strategy

Guild Mortgage named Victoria Garcia DeLuca as the company's vice president of marketplace diversity strategy, which is aimed at increasing homeownership among minorities and underserved markets.

Industry News
Jan 25, 2022