DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/307728
66 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) solution includes 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 $200 billion in transactions. Five of the top six financial institutions currently use Equator's platform. Equator is headquartered in Los Angeles, California, with offices in Seattle, Washington; Dallas, Texas; and Irvine, California. COMPANY HISTORY Equator was started in 2003 by Chris Saitta and Mark McKinley as REO Trans, which fo- cused primarily on the REO technology space. The company then grew to provide a full suite of default technology products that service more than 50 asset management companies, more than 400,000 real estate agents, 20,000 vendor companies, and GSEs who all connect through the Equator marketplace to transact. BUSINESS LINES, SERVICES, AND PRODUCTS » Loan Management (Control Tower) » Loan Modification » Short Sale » Deed-in-Lieu » Foreclosure/Bankruptcy » REO » Invoice Management GEOGRAPHICAL SCOPE AND COVERAGE AREA All of the United States including territories; headquartered in Los Angeles, California KEY PERSONNEL » » Christopher»L.»Saitta, CEO » » John»Vella,»COO » » James»Vinci,»CIO » » Seever»Sulaiman, CTO » » Shana»Lakso,»SVP of Relations NUMBER OF COMPANY EMPLOYEES Approximately 400 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 client's 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 The strength of Equator lies in its relationships with its clients. Utilizing its staff's experience, Equator has a track record of successfully delivering completed projects. The company can customize solutions and workflow for every situation, providing unique solutions, not canned answers. Through its technology, Equator is able to connect all parties in a transaction through a compliant and transparent platform. ADDED VALUE Equator adds value to its clients by allowing them to be fully compliant with new regulations. Using the company's unique system, outsourced and third-party firms can receive a duplicate platform that mirrors their clients' internal processes. Equator's breadth of experience with best practices allows the company to optimize its clients' process. By utilizing technology, Equator clients can improve efficiencies, lower costs, and improve compliance. KEYS TO SUCCESS The single most important aspect of Equator's business is its focus on relationships. Equator takes a consultative approach, utilizing years of experience in both the servicing and technology industry. Equator's long-term relationship with its clients is the key to the company's success. Equator delivers quality products on time. AWARDS AND 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 name 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 toward CFPB-compliant processes. EQUATOR BUSINESS SOLUTIONS 6060 CENTER DRIVE, SUITE 500, LOS ANGELES, CA 90045 » 310.469.9356 equator.com LENDERS & SERVICERS OUTSOURCERS AGENTS & BROKERS ATTORNEYS SPECIAL ADVERTORIAL SECTION