REOTrans, Los Angeles, is changing its name to Equator in order to facilitate the expansion of its technology solution, which automates and connects the residential default servicing industry. The transition is slated to take place at yearend, according to Chris Saitta, the company's CEO. "The company chose the name to represent its scope and purpose," he said. "The Equator is comprehensive yet precise and a point of change." The technology platform includes a configurable workstation, a marketplace, transactional web site, and a borrower self-service portal. Users of the system currently include 15,000 default vendors and 625,000 real estate agents to manage more than 150,000 transactions daily.
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