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RES.NET Takes on Short Sales with Servicer and Homeowner Portals

""RES.NET, Inc."":http://www.res.net, the California-based technology firm whose infrastructure and supporting software applications connect diverse real estate professionals to improve administrative and operational efficiencies, is adding a Short Sale Portal to its Accelerated Management Platform (AMP) and a homeowner interface to assist borrowers with their foreclosure alternative choices.
[IMAGE] The new Short Sale Portal provides mortgage servicers with tools to manage the short sale workflow process and to connect with their borrowers and representing listing agents.

Tasking, electronic documentation, and instant messaging keep the agent, the borrower, and the mortgage servicer in sync, to effectively transact short sales while eliminating guess work and long gaps between communication, RES.NET explained.

The company says because of the paperless system design of the portal, agents will be able to cut down on the use of fax machines and phone calls, and connect seamlessly with the mortgage servicer through RES.NET's AMP system. Additionally, the amount of phone calls to the mortgage servicer will be reduced as the status of the short sale transaction will be automatically directed to the homeowner.

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In addition to the release of the Short Sale Portal for the mortgage servicer, RES.NET is launching the HomeOwner Portal, a secure application borrowers can go to in order to complete the short sale application and connect directly with their listing agent and mortgage servicer.

The portals will be available on the common RES.NET platform, which already ""offers an agent interface"":http://dsnews.comarticles/resnet-launches-accelerated-management-platform-for-real-estate-agents-nationwide-2010-01-07. The system provides full connectivity between the portals, enabling each party in the real estate transaction to manage the workflow process, task each other, and receive instant notifications of completion of each task, ensuring the short sale remains in full compliance, RES.NET explained.

""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, COO of USRES, the parent company to RES.NET.

Mobraten says the AMP platform's short sale capabilities have been highly anticipated by the market, but he explains that the delay in the release of the applications was intentional to ensure ""we could deliver a simplistic solution to all parties, free of charge.""

""The industry has struggled with similar solutions, and RES.NET has devised a strategy and solid solution to overcome all obstacles within the short sale transaction,"" Mobraten said. ""This also gives agents who are already on RES.NET that extra ability to diversify their business, which is critical to success in today's industry.""

The Short Sale and HomeOwner portals will be released on March 1, 2011. RES.NET says it has secured four mortgage servicers to roll out the new applications.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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