REOTrans Marketplace Exceeds 100,000 Transactions Daily

REOTrans LLC, Hawthorne, Calif., which automates the default management process, has reported that its e-commerce marketplace handles more than 100,000 transactions daily. The marketplace tracks and provides detailed performance report cards on the entire industry. This allows sellers to select the best performing agents and vendors. "This is an incredible volume of transactions per day," said Chris Saitta, CEO of REOTrans. "The high volume of transactions assures a current and fair assessment of performance." He said the marketplace is a vibrant e-commerce exchange that allows everyone in the default servicing industry to connect and do business electronically. There are currently 4,090 sellers (asset managers), 6,025 vendors and 254,874 real estate agents nationwide handling 110,115 transactions each day. With no software to install or hardware to maintain, this platform creates an efficient and seamless system for the default industry. In addition to the marketplace, REOTrans also provides a highly configuration workstation. The workstation is easy to adopt, highly configurable and provides dramatic process efficiency gains making it easy to handle higher volumes, according to the company. Together the marketplace and workstation provide everything and everyone needed to efficiently automate the default process and sell REO in a safe and transparent online environment.