National Servicer Pilots Online Marketplace

Posted by Orb Staff on December 09, 2009 No Comments
Categories : Mortgage Servicing

Countdown To Buy, an online real estate marketplace, has launched an automated real estate matching platform the company says is able to support foreclosures, short sales and traditional property transactions equally.

In conjunction with the launch, the company has entered into an agreement with an undisclosed nationwide servicer of residential mortgages for its initial pilot program and has begun offering a sampling of properties located in Connecticut, New Jersey and New York. Countdown to Buy is currently in negotiations with other leading banks and servicers for additional programs, the company says.

The company's patent-pending technology automatically matches buyers and sellers in a real estate transaction through a time-limited process that reduces the property's list price 1% per day. Confidentially submitted offers are systematically compared to the daily price, and when an offer matches or exceeds that price, the offer is automatically accepted and the contract process is initiated.

Banks and servicers benefit from a process which accelerates the sales cycle, maximizes returns and mitigates risks, the company says.

"We set out to create an environment of trust between buyers, sellers and third parties," comments Jim Hodson, the company's CEO. "Now more than ever home buyers need 100% transparency and unbiased information throughout the entire home purchase process."

SOURCE: Countdown To Buy

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