DepotPoint Launches Agent Network, Modifies its Short Sale Solution

""DepotPoint, Inc."":http://www.depotpoint.com/, a Bellevue, Washington-based provider of default servicing workflow solutions recently announced[IMAGE]

that it has launched a real estate agent network and modified its proprietary short sale solution to be fully compliant with the administration's Home Affordable Foreclosure Alternatives (HAFA) program, ""which went into effect on April 5."":http://dsnews.comarticles/hafa-is-officially-underway-2010-04-05

AgentConnect, the company's new real estate agent network, is a powerful Web-based tool for qualified real estate agents who want to help troubled homeowners gracefully exit their mortgage commitment through a short sale.

Agents can create a profile featuring their credentials and previous short sale and REO expertise, and they will then be placed on a list of qualified short sale or REO agents in their market area. When agents are assigned a short sale or REO property, all of their activities within the workflow will be tracked and compiled into performance scores available for viewing by DepotPoint's clients.

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""More than ever, investors and servicers require real estate agents with legitimate, on-the-ground experience selling distressed properties,"" said Joe Filoseta, DepotPoint president and CEO. ""AgentConnect fills crucial needs on both sides â€" servicers get access to qualified agents, and agents get marketing exposure to those who need them most.""

In addition to launching this real estate agent network, DepotPoint announced that its Web-based workflow engine and tracking system for managing default transactions has been modified to help servicers and investors meet all HAFA specifications.

TrackPoint, the company's flagship product, now meets HAFA specifications and tracks continuing HAFA compliance as the file is advanced through the workflow. If a file falls out of compliance, the intuitive software provides clear steps that can be taken to return a short sale to HAFA compliance.

In addition, TrackPoint now enables lenders, real estate agents, and other parties to electronically collect, process, and track documents required under the HAFA program, increasing both efficiency and short sale rates of success.

""Our enhanced TrackPoint short sale application provides a transparent, end-to-end solution that helps struggling families get out of unmanageable debt obligations and exit with dignity,"" Filoseta said. ""Short sales are a team effort, however â€" which is why we look forward to working with experienced, knowledgeable agents interested in helping our clients process short sales.""