LRES Deploys DepotPoint Technology to Manage REO Sales Demand

""LRES Corporation"":http://www.lres.com, a provider of valuations and asset management for the mortgage, banking, and real estate industries, now uses TrackPoint REO technology to facilitate real estate-owned transactions on behalf of its clients.
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Created by ""DepotPoint, Inc."":http://www.depotpoint.com, a provider of default management workflow solutions based in Washington, TrackPoint is a workflow and tracking system and the foundation of DepotPoint's default servicing applications, including TrackPoint Loss Mitigation and TrackPoint REO.

California-based LRES Corporation is using the company's TrackPoint REO system as its primary technology to manage the growing demand for REO sales.

""We selected TrackPoint because it enabled customizable workflows for the detailed REO process and because of the impressive network of real estate agents experienced in bank-owned properties through DepotPoint's AgentConnect,"" said Roger Beane, CEO of LRES Corp.

TrackPoint includes a flexible workflow engine, custom reporting, configurable process controls, and data and

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document management. The system allows servicers and investors to recover distressed assets faster, reduce costs, scale operations, and ensure compliance, according to DepotPoint.

The technology assists users through each step of a transaction, assigning, automating, scheduling, and tracking tasks, including third-party service providers. The technology is Web-based, hosted and administered by DepotPoint.

""Our TrackPoint solutions allow asset managers to maximize the return on each property as well as customize processing activities depending on the particular needs of the investor,"" said Joe Filoseta, president and CEO of DepotPoint. ""TrackPoint solutions also ensure transparency and accountability for all parties involved in an REO sale, which is important in an increasingly scrutinized and regulated servicing industry.""

DataConnect, a new business intelligence tool from DepotPoint that allows lenders, servicers, and asset managers to aggregate and integrate data from multiple sources and systems when processing short sales, managing REO properties, or pursuing other default servicing activities, is available in conjunction with the TrackPoint platform.

""Given the nation's growing inventory of REO properties as well as the increasing number of qualified buyers for these properties, we are thrilled to be working with LRES to get as many REO properties occupied as quickly as possible,"" said Filoseta.

He added, ""LRES Corp.'s impressive list of clients gives both companies the opportunity to make a difference toward the recovery of the real estate market and our local communities.""