""AMS Servicing LLC"":http://www.ams-servicing.com, a national specialty servicer for residential and small balance commercial mortgages, recently selected the TrackPoint default servicing platform to facilitate short sale transactions on behalf of its clients.[IMAGE]
TrackPoint was developed by ""DepotPoint, Inc."":http://www.DepotPoint.com, a provider of Web-based default management workflow solutions headquartered in Bellevue, Washington.
AMS Servicing uses TrackPoint Short Sale with its short sale underwriting process to create customized, end-to-end short sale processes that work with the systems of individual servicers.
The specialty servicer also processes transactions through the federal Home Affordable Foreclosure Alternatives Program (HAFA). A Web-based workflow engine and tracking system, the TrackPoint software-as-a-service (SaaS) platform is also fully HAFA compliant.[COLUMN_BREAK]
""With recent changes to HAFA requirements, we are forecasting a significant growth in short sale opportunities,"" said AMS Servicing EVP James DePalma. ""To capitalize on these opportunities, it is critical for our technology to integrate with our client's systems, so we need a platform capable of customized data exchange, process management, and reporting.""
DePalma says his organization performed months of due diligence and looked at a lot of platforms to meet its needs. ""[F]rankly, DepotPoint was the best in class for a ready-today short sale portal,"" he said.
TrackPoint is the foundation of DepotPoint's default servicing applications, including TrackPoint Short Sale. It includes a workflow engine, custom reporting, configurable process controls, and data and document management.
By automating and streamlining default transactions, TrackPoint allows servicers and investors to recover distressed assets faster, reduce costs, and scale operations, according to DepotPoint. TrackPoint's workflows assist users through assigning, automating, scheduling, and tracking each task, including third-party service providers.
""With job growth and property values still lagging in many parts of the country, we know there will be many more homeowners looking for help,"" said Joe Filoseta, president and CEO of DepotPoint. ""It is good to see companies like AMS Servicing step up to the plate, and we feel privileged to give them the tools with which to help servicers and homeowners toward the best possible outcomes.""