Equator launches three new modules for REO, short sales inventory
Equator launched three new modules to help mortgage servicers better analyze loans and borrowers, as their foreclosure inventories show no signs of abating anytime soon. The provider of software for the default-servicing industry said its loan segmentation suite allows servicers "to route the right loan to the right person early on in the delinquency to insure optimal outcome for the loan." Equator said this module works with the 60- to 120-day bucket of delinquent loans and provides a workout path based on borrower, market and loan data accompanied by a new net-present value. To assist with an expected increase in the level of REO properties this year, Equator unveiled a REO segmentation module for managing disposition strategies. The company said the software produces a number of potential outcomes for the property, including rental, hold, quick sale, repair, donate or auction. Then the module determines expected proceeds for each possible disposition. "Using Equator's REO segmentation module will allow for consistent disposition strategy among outsourcers and internal asset managers as well as maximize net proceeds to the investor," said Equator Chief Executive Chris Saitta. The Los Angeles-based company also unveiled a new invoice management module that increases efficiencies and "provides unprecedented audit control." Write to Jason Philyaw.