Carrington Property Services and LendingXpress are teaming together on an exclusive cross-marketing agreement to provide credit unions and community banks with a comprehensive suite of REO asset management services. 

The services aim to reduce costs and maximize returns by the second quarter of 2013, giving credit unions and community banks the capabilities usually reserved for large-scale financial institutions, the firms said in a press statement.

"This arrangement directly supports the value proposition LendingXpress was based on – giving lenders a highly efficient, seamless method for accessing products and services designed to increase efficiency, reduce risk and offer a competitive advantage," said LendingXpress President Ted Robinson. 

Carrington's integrated solution will begin with an assessment of the property to help the lender determine if they should rent or sell and what repairs are warranted.
Additionally, the statement said that Carrington will be the central point of contact to handle occupant resolutions, property repairs and either rental management or the marketing and disposition of the REO properties.