DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/288957
» VISIT US ONLINE @ DSNEWS.COM 75 SPECIAL ADVERTORIAL SECTION SHORT SALE TECHNOLOGY/OUTSOURCER PROFILE Equator Business Solutions KEY PERSONNEL Christopher L. Saitta CEO John Vella COO James Vinci CIO Seever Sulaiman CTO Shana Lakso SVP of Relations Staffing » Number of company employees Approx. 400 Business Lines, Services, and Products » Loan Management » Loan Modification » Foreclosure / Bankruptcy » Short Sale » Deed-in-Lieu » REO » Property Search (Equator.com) » Invoice Management CORPORATE DETAILS: 6060 Center Dr., Suite 500 | Los Angeles, California 90045 | 310.469.9500 | robert.mckinley@equator.com COMPANY DESCRIPTION: Founded in 2003, Equator, an Altisource business unit, is the leading provider of default software solutions for servicers, real estate agents, vendors, and other mortgage and real estate industry professionals. The company's infrastructure software-as-a-service (iSaaS) solutions include EQ Workstation, EQ Marketplace, EQ Midsource, and EQ Portals, which can be used a la carte or as an end-to-end solution. The company's REO, short sale, and loss mitigation products have processed more than $235 billion in transactions. In 2013, over 46 percent of the industry's short sales and over 37 percent of REO closings were transacted through the Equator platform. The top five loan servicers currently use Equator's platform. Equator is headquartered in Los Angeles with offices in Seattle, Dallas, and Irvine. COMPANY HISTORY: Equator was started in 2003 by Chris Saitta and Mark McKinley as REOTrans, which focused primarily on the REO technology space. Since then the company has grown to provide a full suite of default technology products that service the top five servicers, over 400,000 real estate agents, and 20,000 vendor companies who all connect through the Equator marketplace to transact. KEY FEATURES/BENEFITS: Equator has a proven track record of having worked directly with asset management companies, agents, vendors, GSEs, investors, and servicers of all types and sizes. Equator's advanced workflow-based technologies are fully configurable to meet any clients' need. Equator's marketplace uniquely connects all interested parties in a transaction, allowing them to pass documents and data through a seamless workflow process, which improves compliance, efficiencies, and decision-making. Equator's Short Sale product revolutionized the short sale process for servicers. Integrating document collection, communication, and investor rules, Short Sale handles all aspects of the process for servicers. Offers are reviewed and approved based on investor rules, MI requirements, and servicer-determined value limits. Agent initiation, electronic document collection, and investor controls are just some of the unique features of Equator Short Sale. The Midsource workstation allows servicers to extend the platform to outsource companies without losing control or compliance, while ensuring consistent workflow between all parties. COMPETITIVE ADVANTAGE: Equator has proven experience over eleven years of being in business. The company's customized workflow solutions allow all parties to interact quickly and efficiently. The relationships Equator has built with its clients provide a level of expertise that is unmatched in the industry. Equator's technological prowess, coupled with its mortgage default industry experience, is a defining factor in its success. Equator's technology is proven and tested, having met the demands of the largest financial institutions around compliance, security, and scale. ADDED VALUE: Equator's biggest value addition to any client is its breadth of knowledge and depth of experience. Through the company's ability to share best practices learned from working with the top companies in the industry, Equator can offer unique and tailored business solutions to clients of all sizes. Whether you're looking for a specific workout strategy product or an end to end business automation tool, Equator offers the tools needed for success to today's mortgage environment. KEYS TO SUCCESS: The relationships Equator builds with its clients is the key to its success. The company is able to work hand-in-hand with clients in order to help them understand their problems, create solutions, and ultimately, achieve their goals. AWARDS/ACCOLADES: Equator has been honored with several technical awards, and its staff has been recognized as some of the best in the industry. In 2013, Equator was named a Mortgage Technology Top 50 Service Provider, and was named to HousingWire's RETech:50 list. Equator is routinely commended for its rapid speed to market. Loan Management, Equator's newest technology product, has become in demand in the industry, and is leading the industry towards CFPB-compliant processes. National coverage, including Virgin Islands, Puerto Rico, and Guam Lake Forest, California Corporate Headquarters