REOTrans has announced that it will be changing its name to Equator. The reason for the name change, which is scheduled to take place at the end of the fourth quarter, is to facilitate the expansion of its technology solution, the company says.
Launched in 2003, REOTrans started out providing automated technology for real estate owned (REO) transactions and has since expanded to other default management functions. The company's platform includes a configurable workstation, a transactional Web site and a borrower self-service portal.
‘The company chose the name to represent its scope and purpose," says Chris Saitta, CEO. "The Equator is comprehensive, yet precise, and a point of change. It's also rich in metaphor to help communicate and perpetuate the company's identity."