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Altisource Establishes REO Asset Management Services

Kennesaw, Georgia-based Altisource Solutions, Inc., a wholly-owned subsidiary of ""Altisource Portfolio Solutions S.A."":http://www.altisource.com/, announced Wednesday that it has broadened its mortgage service offerings to include REO asset management operations.


This recent expansion extends the company's real estate disposition and closing services to include comprehensive oversight and coordination of the entire REO transaction lifecycle for its clients. It also provides lenders and servicers with a full suite of services for managing their REO portfolios, ranging from pre-marketing through asset sale, including property valuation, property preservation, property management, marketing, asset disposition, and closing.

""Altisource's establishment of REO asset management services eliminates our clients' need to maintain an REO asset management team or manage multiple service providers,"" said Richard Powers, SVP of real estate services for Altisource. ""By integrating our end-to-end REO management services, clients will leverage our proprietary REO asset management technologies and processes to improve quality, throughput, and net sale proceeds.""

Powers said the company's newly-launched REO asset management services also include participation in the company's ""online platform"":http://www.gohoming.com/, enabling customers to retain Altisource to list their properties. This, he explained, provides a much needed bridge between those selling REO properties and those looking to buy. The online platform is currently in beta testing, and Powers said Altisource expects this product to change the way REO properties are sold.

Currently, Altisource manages approximately 10,000 REO assets. Led by a team of professionals who average 15 years' experience in real estate disposition, the REO asset management division provides nationwide coverage for all REO asset management functions.