RES NET will release a new short sale portal Tuesday that gives mortgage servicers help managing the workflow and connects borrowers with the listing real estate agent. The California-based company offers portals for businesses to connect to a network of real estate professionals with a specialty on the default side. RES NET said the new short sale portal will cut down on the use of fax machines and phone calls. Short sales are expected to ramp up after the Treasury Department made key changes to the Home Affordable Foreclosure Alternative program in December. HAFA was launched in April 2010 to provide an incentive to servicers and investors for pursuing short sales and deeds-in-lieu of foreclosure, and it provided these companies a national standard to structure their own programs around. To take advantage of the new demand, companies have built technology platforms to help lenders cut down on a process that can take many months to complete. Hope LoanPort, which runs the web-based portal under the Home Affordable Modification Program is working on a system to aid the short sale process, too. RES.NET said its product will automate tasking, electronic documentation and provide instant messages to the agent, the borrower and the servicer. The company is also releasing a separate portal for borrowers to connect directly with the listing agent and servicer. The portals will be released March 1, and RES NET said it has secured four mortgage servicers to roll out the applications. "Providing RES NET members with a short sale portal that links the servicer, the homeowner, and the listing agent, gives everyone involved in a short sale transaction the opportunity to instantly and consistently interact with one another," said Todd Mobraten, chief operation officer of RES NET's parent company USRES. Write to Jon Prior. Follow him on Twitter: @JonAPrior