DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/104642
» of Rekon Technologies, in a statement. "Rekon's software enables servicers to avoid document mistakes and filing miscues when creating lien release documents for short sales that can further delay closings or even add to the dissolution of a short sales transaction." The software has eRecording capability for lien releases in the 750 recording districts across the country, and it allows servicers easy access for handling a large volume of short sales with consistency and without delay. The electronic recording of a short sale lien release will be sent to the servicer within 48 to 72 hours. RES.NET Enchances Short Sale Portal RES.NET announced in November 2012 its Short Sale portal has received an upgrade. Enhancements to the portal include improved tracking functionality and new tasks to help servicers adhere to regulatory and compliance standards. Through the changes, the Short Sale portal is better able to track the time in which notices are generated; the portal also sends nightly email reminders to agents regarding outstanding tasks. In addition, RES.NET says it added new fields to screens in the portal to assist servicers with tracking deficiencies and incentives. The upgrade ensures servicers meet guidelines from the national mortgage servicing settlement reached in February 2012. "The attorneys general settlement affects how all servicers must approach their internal processes, and applying the monumental changes necessary requires them to leverage technology," said Todd Mobraten, president and COO for USRES and RES.NET. "The Short Sale portal gives them a way to manage the additional workload that comes with increasing legislation and while still easily communicating with all other participants. We continually update our portals, ensuring we provide technology that alleviates the burden of compliance and streamlines real estate transactions." The Short Sale portal is interconnected with the RES.NET's five other portals for agents, buyers, sellers, asset managers, and vendors. The California-based company was established in 2003 as a subsidiary of USRES. VISIT US ONLINE @ DSNEWS.COM FotoNotes Mobile App Assists Mortgage Field Service Companies FotoNotes is seeking to transform how mortgage field service providers do business. Through its mobile and cloud-based platform, FotoNotes allows field service companies to capture, manage, and share mobile information. According to a company release, by using FotoNotes, organizations can replace clipboards, paper forms, cameras, laptops, cell phones, and email with one mobile application. With FotoNotes, data can be transmitted in real-time to the FotoNotes cloud and securely shared inside and outside of an organization. Valligent, a specialty appraisal company that provides valuation solutions to the residential mortgage industry, uses FotoNotes for inspecting and appraising properties. "Our customers rely on us to provide timely, accurate, and complete information," said Jeff Wickham, president of Valligent. "With FotoNotes we generate higher quality information, our core benefit, as well as save time and money on every inspection." Kamal Shah, founder and CEO of California-based FotoNotes, added, "We're proud to help mortgage service companies like Valligent better serve their customers and give them a real competitive advantage." California Pending Home Sales Rise Monthly and Yearly Pending home sales in California rose in October 2012 from the previous month and year—an occurrence that had not happened in seven months. The California Association of Realtors (C.A.R.) reported its pending home sales index rose by 4.3 percent from 115.2 in September 2012 to 120.2 in October 2012 and that pending sales were up 3.6 percent from 116.1 recorded in October 2011. "The strong pace of pending sales in October is a continuation of what we've experienced for most of 2012, with demand remaining robust across all parts of the state," said Don Faught, the 2013 C.A.R. Quality Service You Can Trust. Nobody in the world sells more real estate than Re/Max Serving: ORANGE COUNTY AND RIVERSIDE COUNTY, CALIFORNIA OVER 12 YEARS EXPERIENCE HANDLING ALL ASPECTS OF REO PROPERTY MANAGEMENT AND SALES INCLUDING: » Occupancy verification in less than 12 hours » Cash for keys negotiations » Property preservation, maintenance, and repairs » 24 Hr. BPO Turn around » Full marketing campaigns » Sales negotiations and closing » Over $300,000 available funds to cover repair and utility costs » Have enhanced education and ability to also handle fluid short sale transactions » Over 500 successful REO Transactions closed » Over 70 successful short sale transactions closed since 2010 DAVE LARSEN Re/Max Partners 951.735.4140 direct 951.278.8755 office 951.346.3188 fax LarsenGroup@aol.com 129