Equator, the provider of default servicing solutions, announced today that over $100 billion in assets have been sold through its platform since 2003, and more than 500,000 short sales have been initiated since its launch of the industry's first comprehensive automated short sale solution last year.
According to its Q4-2010 report, Los Angeles-based Equator continues to see substantial growth with its Short Sales and HAFA solutions. "Our Short Sale and HAFA Workstations continue to provide servicers with a viable foreclosure alternative by generating faster responses and decisions, thereby offering impressive cost savings," said COO John Vella. "With over 140,000 HAFA initiations to-date, and over 40,000 of those coming in Q4, Equator's HAFA Workstation remains the most popular HAFA automation on the market," said Vella.
Equator also plans to offer several new modules in 2011 which will interface with existing modules to offer an end-to-end default suite to assist servicers with upcoming inventories.
Three of the top five financial institutions currently use Equator’s platform. Equator's REO, Short Sale and Loss Mitigation platforms have processed more than $190 billion in transactions. Currently, the EQ Marketplace hosts more than 740,000 agents, 22,000 vendors and 24,000 sellers, contributing to 212,000 transactions per day. Equator, founded in 2003, has additional offices in Dallas, Denver, Irvine, Calif., and Portland, Ore.
