Software provider ""TAZA Systems"":http://tazasystems.com/Default.aspx announced that it is offering a sophisticated software system to track and manage Other Real Estate Owned (OREO) cycles and provide necessary tools for portfolio management.[IMAGE] [COLUMN_BREAK]
""In the last two years as a result of the mortgage crisis over 281 banks have been seized by the FDIC. The conservative banks during the mortgage boom are in a positive economic position to inherit Other Real Estate Owned (OREO) assets from failed institutions overseen by the FDIC,"" the company said in a release. ""Consequently, as part of the acquisition process, they take on the requirements of managing, marketing and liquidating assets while reporting on a monthly basis with pinpoint accuracy, their current book values, write downs, net proceeds, expenses, taxes, and the overall [return on investment].""
OREO software also helps handle the complicated issues that can arise when assets change hands, including tax requirements and payments due at different times throughout the year. TAZA's online software provides user-friendly systems designed to tackle these problems and help manage OREO portfolios.
TAZA Systems is a real estate software provider offering programs to assist in MLS, asset management, vendor management, and more. The company is headquartered in San Diego, California.