""Equator"":https://www.equator.com/index.cfm, the Los Angeles-based provider of software solutions for the default servicing industry, has introduced Professional (PRO) Short Sale and PRO HAFA modules to expand its PRO Workstation application.[IMAGE]
The newly launched modules provide a method for lenders, real estate agents, and borrowers to conduct real-time, transparent communication throughout the short sales process. This software is expected to prove especially useful to loan servicers, outsourcers, and credit unions by increasing efficiency in short sale transactions.
""Short sales will continue to increase this year, particularly with Home Affordable Foreclosure Alternatives (HAFA) becoming a large percentage of their overall volume,"" explained Chris Saitta, CEO of Equator.
Designed to address this surge in short sales, the PRO Short Sale module automates offer management work flow in order to speed term negotiation, and the PRO HAFA module automates short sale and deed-in-lieu transactions based on the U.S. Treasury's guidelines, including government forms and timelines, to support compliance.
Additional features of the just-rolled-out modules include connections to 710,000 agents and 21,000 vendors via the Equator Marketplace as well as compliance assurance thanks to standardization and thorough task tracking.
Equator was first to launch an automated short sale platform in November 2009, and the software provider's REO, short sale, and loss mitigation platforms have processed more than $120 billion in transactions. In addition to its Los Angeles headquarters, Equator has offices in Dallas, Denver, Irvine, and Portland.