Default software solutions provider Equator has launched a new, Web-based foreclosure and bankruptcy workflow solution designed specifically for mid-market customers.
Developed in coordination with two top mortgage servicers and a half-dozen leading law firms, the solution enables configurable workflows and foreclosure milestone tracking.
In addition, the solution is one of the first in the industry to provide automated digital proof of claims forms generation, the firm says in a press release.
This capability should empower mortgage servicers to better manage their books of business by streamlining their processes and providing much-needed transparency.
RCN Capital, which provides time-sensitive bridge financing to real estate investors to fund the purchase of non-owner-occupied residential and commercial properties, has already signed a multiyear subscription for the cloud-based solution, Equator reports.
The solution is part of Equator’s PRO line of default servicing solutions.