Visionet Systems, based in Cranbury, N.J., has announced the availability of VisiREO, an end-to-end, Web-based solution to manage pre-foreclosed or lender-owned properties.
Most lenders today use third-party hosted solutions where either they pay direct usage fees or vendors pay fees that are then passed on to the lenders. With VisiREO, lenders or asset management companies can install the system in their own environment and configure the workflows to suit their needs.
This approach enables lenders to negotiate lower fees from contractors and manage the REO process more efficiently with 100% visibility, the company says.
Source: Visionet Systems