REOTrans Reports $45 Billion In REO Sold

Posted by Orb Staff on January 27, 2009 No Comments
Categories : Mortgage Servicing

Southern California-based REOTrans reports that approximately $45 billion of defaulted-upon real estate has been sold through its online system since the company was founded in 2003.

REOTrans comprises what CEO Chris Saitta calls ‘a powerful Workstation and Marketplace.’ The Workstation is a configurable system that allows lenders and servicers to execute their real estate owned, short-sale and loss mitigation strategies with real-time oversight and assured compliance, according to Saitta. The Marketplace is an exchange where 6,500 sellers, 10,600 vendors, 485,000 real estate agents and 32 midsource partners handle more than 150,000 transactions every day, the company says.

SOURCE: REOTrans

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