Equator Reports Nearly 1.2 Million Short Sales Initiated
Equator (EQ), a provider of default servicing technology, has announced in its fourth quarter report that approximately 1.2 million short sales have been initiated since the launch of its short sale module in November of 2009. The report also states that Equator's Loan Segmentation Module has decisioned more than 875,000 loans since early 2011 and in excess of $150 billion in assets have been sold through its platform since 2003. "Equator now offers servicers a complete, end-to-end default solution," said Equator Chief Executive Officer Chris Saitta. "Our platform can handle every aspect of default that our clients need, from loan segmentation to loan modification, short sales, deeds in lieu, invoicing, foreclosure processing and REO." Equator recently announced plans to launch a new comprehensive software solution for Real Estate Professionals called REvolution Basic in early 2012, an enterprise level solution for real estate professionals which will allow them to handle both distressed and traditional properties seamlessly through one system. "Equator's loan segmentation module has been a huge success with proven results," said Equator COO John Vella. "The enormous volume that has run through the model has allowed Equator to validate its value and we anticipate that the volume in 2012 will at least double."