DepotPoint Launches Real Estate Agent Network, HAFA Solution

Posted by Orb Staff on April 15, 2010 No Comments
Categories : Mortgage Servicing

DepotPoint Inc., a provider of default servicing workflow solutions, has launched AgentConnect, a tool designed to help qualified real estate agents gain visibility from DepotPoint's short-sale and real estate owned property (REO) clients, the company says.

‘More than ever, investors and servicers require real estate agents with legitimate, on-the-ground experience selling distressed properties,’ says Joe Filoseta, DepotPoint president and CEO.

Through the Web-based system, agents can create a profile featuring their credentials and previous short-sale and REO experience, and be placed on a list of qualified short-sale or REO agents in their market area. When agents are assigned to a short sale or REO property, all of their activities within the workflow will be tracked and compiled into performance scores available for viewing by DepotPoint's clients.

The company has also announced that its TrackPoint solution for short sales is fully compliant with the Treasury Department's Home Affordable Foreclosure Alternatives (HAFA) program, which went into effect last week. TrackPoint tracks continuing HAFA compliance as a file is advanced through the workflow. If a file falls out of compliance, the software provides steps that can be taken for the file to return a short sale to HAFA compliance.Â

Although TrackPoint will continue to enable non-HAFA short-sale transactions, TrackPoint now enables lenders, real estate agents and other parties to electronically collect, process and track HAFA-required documents required under the program.

SOURCE: DepotPoint

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