REO Services

As marketing and managing foreclosed, bank-owned residential real estate continues to grow in complexity, liquidating real-estate-owned (REO) property extends well beyond the traditional challenges of finding a buyer and closing. Success in today’s market requires visibility into your REO servicing and financially sound partners who are committed to performance, transparency and continual improvement. Using a holistic approach to liquidating REO, we employ and continually develop innovative strategies designed to shorten your time to market, optimize your return and mitigate fraud. We offer our REO Services as individual services or through our cost-saving flat-fee solution.

Services

REO Services is a comprehensive, component-based solution with pricing available in traditional variable-cost models or as the industry’s only fixed-cost model: The CoreLogic REO Flat Fee. Either option includes the following:

HOA/Code Violations/Title Curative/Tax

Specialized teams begin research at referral to cure the title and determine property tax status. We also resolve existing HOA and municipal code violations—often with reduced penalties or a full dismissal.

• Fewer days to market
• Fewer delays at closing
• Reduced or dismissed fees and penalties

Evictions

Our experienced professionals take a proactive approach to property recovery. Our knowledgeable evictions teams make this process run smoothly with creative use of incentives, such as cash for keys.

• Reduced financial impact of relocation on occupant
• Fewer days to market, typically 90 days or more
• Minimum expenses for maximum net recovery
• Monthly auditing and reporting for informed decisions

Property Preservation

Our network of field service providers secure your properties at recovery by rekeying to prevent unauthorized access and by making any emergency repairs to prevent further damage.

• Consistent, quality servicing nationwide
• Documented performance
• Unquestionable vendor selection practices

Valuations

We deliver the most cost-effective valuations with an appropriate combination from a full line of products, including AVMs, BPOs, appraisals and HomeStandings™, our neighborhood/market evaluation tool.

• Higher rates of return
• Validation of pricing strategies
• National coverage with local market information

Marketing

Our asset managers perform extensive research with analytical products such as HomeStandings™ and value monitoring for more effective marketing plans.

• Innovative strategies for broader reach and faster disposition
• Quicker, more accurate response to market or strategy changes
• Mitigate risk and losses associated with ineffective marketing or fraud

Offer/Negotiation Management

Using industry-standard REOSource, we process all orders electronically and link them to our automated Asset Management System for 24/7 access.

• Most offers negotiated within one to two hours
• Audit trail provides a logical order for multiple offers
• Better control of the process gets to closing faster

Closing Title Services

Our loan production expertise puts us in a unique position to manage your REO closing and title needs.

• Few, if any, surprises at closing
• Consistent performance across the country
• Proactive title curative eliminates costly delays at closing
• Minimum errors with paperless processing

Expense Processing

We handle all expenses until closing and process them electronically. You receive a single, reconciled bill.

• Error-free accounting that is easy to audit
• Paperless processing eliminates errors

Document Management

We provide you with REO asset servicing oversight through our electronic document management services that offer quick access to important documents and certificates.

• Transparency into your REO asset servicing
• Fast, easy document access

Reporting

We generate a number of real-time standard and customized reports, including monthly statistical reports, market reports, individual property reports and dashboard reports.

• More effective inventory management
• More informed and timely decision making
• Instant access to vital information for faster response to market or status changes
• Performance monitoring for better quality control

Benefits

Our proactive approach focuses on the following critical targets:

• Fewer days in prelist
• No delays at closing
• Improved accuracy in valuations
• Reduced fraud and loss severity

Our REO Services allow you to:

• Strategically allocate resources to drive down costs and improve capacity
• More accurately forecast and budget your REO expenses
• Partner with a single point of contact for greater accountability
• Reduce vendor management workloads and property preservation costs

Features

We employ specialized teams of experts, national vendor panels and deep industry experience to reduce your days in prelist and remove potential delays at closing. The accuracy of our valuations, the rigorous screening of our agents, our market knowledge and our expertise in closing significantly reduce days on market. We provide the visibility needed to make sound business decisions by providing:

• Quick response to referral (Within the first 24 hours, your order is available online and reporting begins. With the second 24 hours, we assign our REO management team, identify a broker and begin title research.)
• 24-hour online access
• Paperless processing to ensure fewer errors
• Dashboard reports
• Monthly reports
• Vendor screening and management

REO Flat Fee

One Fixed Cost for REO Asset Management, Property Preservation and Disposition

With our REO Flat Fee, you pay one price for preparing, managing, maintaining and selling your REO assets. By strategically outsourcing the mix and price of assets in your portfolio, you can greatly reduce overall REO expenses and improve operational capacity.

In an uncertain market, we're providing something no one else is—predictability. Imagine being able to budget, plan and more strategically allocate your resources to reduce your loss severity. With one fixed cost for your asset management and disposition, including property preservation, now you can. One fixed cost for REO Asset Management, Property Preservation and Disposition. With our REO Flat Fee, you pay one price for preparing, managing, maintaining and selling your REO assets. By strategically outsourcing the mix and price of assets in your portfolio, you can greatly reduce your overall REO expenses and improve your operational capacity. Let us show you how.

With CoreLogic you can:

• Strategically allocate resources to drive down costs and improve capacity
• More accurately forecast and budget your REO expenses
• Partner with a single point of contact for greater accountability
• Reduce vendor management workloads and property preservation costs

Our complete REO solution can help you:

• Reduce your days in prelist
• Eliminate delays at closing
• Improve accuracy in your property valuations
• Reduce fraud and loss severity

REO Flat Fee provides a single cost for: