Equator Announces Default Servicing Milestones

""Equator"":http://www.equator.com, a Los Angeles-based software provider of default servicing solutions, has sold more than $100 billion in assets through its platform since 2003, according to an announcement from the company. In addition, since launching its automated short sale solution in November 2009, the company has initiated more than 500,000 short sales.
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""This quarter was very busy with many lenders and servicers looking to adopt proven technology solutions in expectation of the increased volumes and compliance that 2011 will bring,"" said Equator CEO, Chris Saitta.

According to its Q4-2010 report, Equator's short sales and Home Affordable Foreclosure Alternatives (HAFA) solutions continue to grow.

""Our short sale and HAFA workstations continue to provide servicers with a viable foreclosure alternative by generating faster responses and decisions, thereby offering impressive cost savings,"" said Equator COO, John Vella. ""With over 140,000 HAFA initiations to-date, and over 40,000 of those coming in Q4, Equator's HAFA Workstation remains the most popular HAFA automation on the market.""

The company plans to offer several new modules later this year that will interface with existing technology to assist servicers with growing inventories of distressed assets.