LRC Asset Management has announced the launch of a revolutionary program that catches fraud and speeds REO timelines to less than 180 days. RealtyRecon quickly determines occupancy in REO housing units, addressing one of the industry’s biggest shortfalls. The Scottsdale-based company’s proprietary program works with existing listing agents as a seamless addition to REO and short sales operations.
“The amount of fraud in REO and short sales is staggering,” said Travis Hamel Olsen, co-president of Loan Resolution Corporation (LRC). “RealtyRecon virtually eliminates all fraudulent repair claims by agents and contractors, and those tricky pocket-investors that agents sometimes work with, so we can get the owner of the mortgage the full return they deserve.”
The groundbreaking program significantly lowers code violations by providing occupation verifications and weekly inspections. RealtyRecon agents visit the properties on a weekly basis, delivering timely reports complete with photographic evidence.
“Our clients have been asking for this resource since the market crashed,” added Olsen.” “It’s time for bogus repair claims and fraudulent agents to go the way of the dinosaurs.”