Equator Offering Three New Modules for Lenders and Servicers

Equator, a software provider to the default and REO industry, has launched three new products for lenders and servicers to use for REO and short sale inventory.

The three new modules called Loan Segmentation, REO Segmentation and Invoice Management can be used with the company’s current modules.

“These new modules will seamlessly interface with existing modules to offer a best-in-class, end-to-end default suite to assist servicers with upcoming inventories,” said Chris Saitta, CEO at Equator.

The Loan Segmentation module will let servicers analyze key data variables from the loan and the borrower and combine it with market data and history so that the loans can be channeled through a retention or liquidation strategy. The end result is the optimum workout path based on the borrower, market and loan data accompanied by an NPV.

John Vella, COO at Equator based in Los Angeles, said if servicers use the new Loan Segmentation module at the 60-120 day bucket of delinquency, they will be able to route the right loan to the correct person early on in the delinquency to insure optimal outcome for the loan.

“With the velocity and frequency of loans flowing into the foreclosure bucket this year, the need for servicers to adopt a delinquent loan segmentation module is paramount,” Vella said. “This new module takes months off the timeline of a workout and improves severity as well as customer service while increasing scale for the servicer.”

Due to expected REO increases in 2011, Equator is also offering an REO Segmentation module which can be used to manage disposition strategies for REO properties by analyzing market and property data, and producing the desired disposition path whether to do a rental, hold, quick sale, repair, donate or auction. The next step in the module is to then determine the expected net proceeds for every disposition strategy to support the recommended disposition method.

“Using Equator’s REO Segmentation module will allow for consistent disposition strategy amongst outsourcers and internal asset managers as well as maximize net proceeds to the investor,” Saitta said.

The third product now available for all existing Equator clients and companies is the Invoice Management module. The module will allow users to benefit from a full investor-based rules engine with enhanced communication between parties and a complete end-to-end paper trail that provides unprecedented audit control.

Another feature of this module is that users can set auto-approval thresholds for the system to immediately approve invoices that fall within the prespecified parameters, saving time and money.

“Our Invoice Management solution takes invoice tracking and management to a new level, providing significant efficiency gains and transparency to its users,” Saitta said.