REO Module Added to Portfolio Management Software
San Diego-based servicing software developer xplair Technology updated its Web-based mortgage portfolio management platform, illumair Management System (iMS). The illumair platform connects financial institutions and investors with servicers and loss mitigation agents, where all parties can access comparative analytics, risk metrics and interactive charts on the mortgages that comprise a portfolio. The platform’s update includes a new real estate owned (REO) module that provides users with REO data that can be formatted and arranged in multiple configurations. “Residential mortgage investors and other stakeholders who use iMS will now be able to view their REO assets as a single portfolio irrespective of REO vendor and drive strategy and workflow to the individuals managing the loan or asset,” said Jill Parker, xplair managing director. A second new feature integrates property listing data from Altos Research on the ZIP code, county, metropolitan statistical area (MSA) and state levels. The new feature provides historical and forward-looking views into supply and demand economics on a local level, the company said. Write to Austin Kilgore.