DepotPoint, Alpha Closing Create Network

Posted by Orb Staff on September 10, 2008 No Comments
Categories : Mortgage Servicing

DepotPoint Inc., a Seattle-based provider of technologies and services for the default real estate market, has teamed up with Alpha Closing Inc. to create a national network of real estate agents to help asset managers, loan servicers and banks using DepotPoint's online workflow system dispose of foreclosed properties.

DepotPoint clients – including asset management firm Metro Pacific – use DepotPoint's REO TrackPoint to collapse the time it takes to move properties through the foreclosure process, reducing carrying time and costs to the benefit of mortgage lenders and equity investors, the company says.

Alpha Closing Inc., through the new Alpha Agent Network, will be the gateway for qualified real estate agents to access the REO TrackPoint system and communicate with asset managers to list and sell real estate owned (REO) properties. Alpha will qualify and certify agents before they are allowed access to potential listings and collect detailed information on each agent it allows in the network, including agent farm area or specialty, agent resume and bio.

According to the companies, as a result, asset managers and other REO TrackPoint clients will know with certainty that agents using the REO TrackPoint system are qualified to handle default property transactions and if they are within an appropriate proximity to the default property.

Sources: DepotPoint, Alpha Closing

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