We understand the urgency and detailed process of taking REO from acquisition to sale in the fewest number of days. We will make this happen by expertly managing and maintaining assets, thereby minimizing costs and liabilities. This is accomplished as a result of our proven and innovative asset tracking system, which is designed to maximize efficiency of service, minimize administrative costs and eliminate costly duplication of work.

Property Management

Our management philosophy is to operate each property from an owner’s perspective while understanding the needs of the tenants and users. We provide the following property management services:

  • Initial Property Inspection
  • Bankruptcy Property Inspection
  • Contact Attempt Inspection
  • Occupancy Verification
  • Full Accounting Reports
  • Checkbox Operations and Maintenance
  • Review of Real Estate Tax Assessments
  • Rent Control Reviews and Administration
  • Foreclosure/Receiverships
  • Evictions

Property Inspection

The primary goal of our inspection services is to provide an immediate status report of property upon acquisition and monthly status updates regarding property condition. We work diligently with suppliers to ensure the most superior and timely completion of inspections. The properties are inspected, secured and weatherized on the initial visit if possible. The following inspection types are available:

  • Initial Property Inspection
  • Bankruptcy Property Inspection
  • Contact Attempt Inspection
  • Occupancy Verification
  • Full Accounting Reports
  • Recurring Monthly Vacant Property Inspection
  • Mobile/Manufactured Home Inspections
  • Deed in Lieu of Foreclosure
  • Sale Date Inspections

Property Preservation

We provide comprehensive services tailored to a client’s specifications to achieve their goals of securing and protecting vacant and abandoned properties. We monitor property conditions utilizing inspection results and information from our suppliers. We also serve as the primary point of contact, maintaining contact with code enforcement offices to mitigate violations issued on properties. Services include the following:

  • Snow Removal
  • Winterization
  • Lock Changes
  • Repairs
  • Lawn Mowing
  • Debris Removal
  • Boarding
  • Evictions

Broker Selection

To dispose of REO, we contract brokerage services to the very best local REO brokers in the particular market. This is key to marketing and disposing of REO properties. Brokers are hand selected after a rigorous process including, but not limited to, the following criteria:

  • 3 years full-time broker experience
  • Currently working as a full-time broker
  • Meet the minimum amount of required closings for the  past period
  • Provide references from other banks, corporations and bank institutions they have represented

Our network includes over 2,000 local specialists

Valuation

We obtain valuation information, including competitive area listings and comparable sold properties, and ensure a valuation expert provides accurate values. This information is provided to our clients so they can make effective business decisions regarding the disposition of their properties. Valuation services include:

  • Interior or Exterior BPO
  • BPO with No Comparables
  • Freddie Mac & Fannie Mae Interior or Exterior BPO
  • Exterior Appraisal
  • Full Appraisal