Home / Tag Archives: Property Preservation (page 17)

Tag Archives: Property Preservation

FAS Streamlines Asset Management Services

Field Asset Services (FAS) recently launched Collateral Command, a solution for property management services and support that offers lenders and servicers a single source for managing foreclosed and REO properties. Included within the Collateral Command suite is Utilities Management Service, which allows banks, servicers, and lenders to leverage FAS and its industry relationships to streamline the day-to-day tasks of managing the utilities process and payments.

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REOs the Topic du Jour in Washington

Neighborhoods across the country are riddled with empty bank-owned homes and unoccupied foreclosures that erode neighboring property values and open the door for blight and criminal activity. The nation's glut of vacant REOs took center stage in Washington Wednesday. HUD announced a new nationwide REO ""First Look"" program, in partnership with the nation's largest mortgage lenders, and it was the first of a two-day Federal Reserve summit to examine the community impacts of foreclosed and vacant properties.

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Los Angeles Adopts MERS System

As an alternative to its registry of foreclosed properties and property preservation contacts for vacant properties, the city of Los Angeles is adopting the MERS System, an electronic loan registry that acts as a nominee in county land records on behalf of lenders and servicers. MERS members can use the system to track both residential and commercial properties. Users tout the benefits of the technology as saving code enforcement officials and municipalities both time and money to ensure vacant properties are maintained.

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Talking in Codes

Continuing communication is key to navigating REO code compliance with suppliers, communities, and other related entities.

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