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""Equator"":http://www.equator.com reports that over 675,000 short sales have been initiated on its platform since the short sale capabilities were launched in November 2009. The company's short sale technology module connects lenders, homeowners, and their selling agents in order to streamline the approval process for transactions.
[IMAGE]""Short sales will continue to be a priority for servicers as loans sit longer in the foreclosure process,"" said CEO Chris Saitta. ""Our Short Sale Module has proven to increase efficiencies, accelerate decision timelines, and provide much needed compliance tracking in today's highly regulated environment.""
[COLUMN_BREAK]The Los Angeles-based company also reported that more than 50 percent of all short sale closings under the federal government's Home Affordable Foreclosure Alternatives (HAFA) program have taken place on its platform.
""Execution is the biggest challenge servicers face with government programs like HAFA,"" Saitta said. ""Equator removes this challenge by pre-configuring a robust solution that facilitates compliance with all HAFA regulations, shortens time frames, and makes it available as either a standalone product or as part of a comprehensive Short Sale Module.""
In addition, the company says its new Loan Segmentation Module, which was launched in the first quarter of this year, has processed over 70,000 loans.
""We are very excited about our new Loan Segmentation Module which incorporates borrower, loan, and market data into a robust model that determines the optimum path for the loan,"" said John Vella, Equator's COO. ""The combination of our extensive, real-time database and our highly configurable environment makes this module unique when compared to other products in the marketplace.""
Equator also recently launched a ""new Web site"":http://www.equator.com, featuring its foreclosure listing service, where more than 62,000 active listings are available to view for free.
