Enjoy access to a free NMLS renewal class when you attend an in-person event.
Default Servicing Technologies LLC, creators of the DispoSolutions REO and Valuation management platforms, reported that year end results for the company's operation in 2014 were better than expected. The company is closely held and financial details were not released, but the company did release certain non-financial details.
"As we look back at our company history, 2014 was the year that the industry recognized our software as a leading solution," said Amy Bergseth, vice president of operations for Default Servicing Technologies. "We took many big steps this year, from a personnel perspective. We also made some significant updates to our software and altered the valuation reports our tool can generate, which garnered some great reviews. It's no surprise that we added clients this year."
In 2014, the company hired industry sales veteran Doring Lloyd to fill the role of vice president of business development. In addition, Remi Kruk was promoted to the role of client liaison, which resulted in more frequent and higher quality communications between the firm and its clients.
From a software development perspective, the company enhanced the custom task capabilities of its REO platform and made improvements to the bulk ordering process for its valuation software. In addition, it released the first phase of a new project that will allow valuation clients to assign and track work in a new manner that will add efficiencies to their servicing process, whether the loan is in default or not.
Default Servicing Technologies has also updated and enhanced the forms for the valuation products available through its platform, making them easier to understand and making it possible for clients to better gauge the collateral risk involved in any deal. This, more than anything else the company did to enhance its offerings in 2014, had the most profound impact on clients and was directly responsible for a number of new client contracts.