Equator loan segmentation model processes 500,000 loans
Equator, which provides software for the default servicing industry, said its loan segmentation module processed more than 500,000 loans this year. And in the past two years, the company's EQ platform handled more than 1 million short sales. The company's loan segmentation module evaluates data on loans, borrowers and the overall market to determine how each distressed loan will be handled. "Short sales continue to be a viable option to foreclosure," said Chris Saitta, CEO of Equator. "Our platform has helped servicers by serving their needs, increasing pull through and shortening time frames, which has led to the initiation of over one million short sales." Another Equator software product called REvolution is set for launch in early 2012. The software allows real estate professionals to handle distressed and non-distressed properties through one platform. Write to Kerri Panchuk.