REO Service Provider Outlines Trends in 2012 – NMP Skip to main content

REO Service Provider Outlines Trends in 2012

NationalMortgageProfessional.com
Jan 30, 2012

Field Asset Services (FAS), a provider of pre-foreclosure, real estate-owned (REO) and renovation field services to the mortgage servicing industry, has released its 2012 Top 10 predictions. Continued emphasis on providing superior customer service, the need to take initiative to pre-empt future problems and demand for knowledge that will open communication and deliver results will be key business priorities in 2012. “The field services industry must be proactive and begin delivering banks and servicers vital property information to avoid additional foreclosures from occurring," said Dale McPherson, president and chief executive officer of FAS. "We also need to work more closely with each and every municipality to ensure code violations are mitigated. New programs are being created to lessen the burden banks and servicers are carrying, but as field service providers, we can begin making a difference today by taking greater initiative, developing expertise in our work and becoming trusted partners with our customers.” FAS’s top 10 predictions for the new year include: ►Protection and maintenance services during pre-foreclosure will increase. ►Institutional investors will begin to emerge as their interest in purchasing single-family residence REO properties increases. ►Remodeling services will grow as investors begin purchasing properties for future rent opportunities. ►Open communication with municipalities will be required to effectively mitigate Homeowners Association (HOA) and code compliance issues. ►Superior customer service throughout the field service value chain will become expected. ►Innovation in the area of mobile technology will be necessary for vendors and contractors to work more efficiently from the field and to deliver guaranteed results. ►Utilities management services will become more essential in helping ease customers’ pain points. ►Proactive property preservation will establish closer relationships between field service providers and municipalities and avoid HOA and compliance fines. ►Access to key property data and reports will be obtained and granted allowing banks and servicers to reduce expenses and increase sales opportunities. ►Transparent, preemptive and guaranteed work will be demanded at every point in the field service process.
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