Visionet Rolls Out New REO Management Tool

Mortgage bankers and servicers require a comprehensive, flexible, and scalable REO management system that integrates with their own in-house and third party systems to provide automated workflow management and high visibility throughout the property management life cycle. Cranbury, New Jersey-based ""Visionet Systems"":http://www.visionetsystems.com says it can now offer its lender and servicer customers exactly that. Visionet, a full-service mortgage consulting and business process outsourcing company, yesterday announced the availability of VisiREO, an end-to-end, web-based solution to manage pre-foreclosed or lender-owned properties.
Most lenders today use third party hosted solutions where they pay direct usage fees or vendors pay the fees which are then passed on to the lenders, Visionet said. With its Real Estate Owned Management System (VisiREO), lenders or asset management companies can install the system in their own environment and configure the workflows to suit their needs. This approach enables lenders to negotiate lower fees from contractors and manage the REO process more efficiently with 100 percent visibility, the company explained.
Visionet describes its VisiREO solution as ""a cost-effective, state-of-the-art, web-based REO management system which offers a competitive advantage when providing REO outsourcing services and related products."" Its REO management functions include: eviction management, property and expense management, repair, valuation and marketing strategies, broker/vendor selection, contract negotiation, and escrow/closing services. In addition, VisiREO can accommodate special situations that arise during the REO life cycle, such as environmental conditions, litigation, and title issues.
For more information on Visionet's VisiREO solution, ""click here"":http://www.visionetsystems.com/visireo.htm.