SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

October 10, 2017 08:00 ET

Equator Adds New Customers to PRO Platform and Enhances REO Solution

Distressed asset software provider launches new features to help servicers better streamline default management and maximize returns

LUXEMBOURG--(Marketwired - October 10, 2017) - Equator, a leading provider of default software and marketing solutions for many of the country's top servicers, real estate agents and vendors, today announced two multi-year contracts -- one with Trinity Financial Services and the other with Trojan Capital. These customers will be utilizing the recently enhanced Equator PRO REO™ product, part of the Equator PRO line of solutions. Equator PRO REO is a software-as-a-service (SaaS) solution that helps servicers increase efficiency and vendor oversight throughout the REO servicing process.

Designed for all portfolio sizes, Equator PRO REO provides servicers with tools for making more strategic and cost-efficient default servicing decisions. Prior to marketing REO assets, customers can leverage a variety of features, including automated valuation ordering, property repair management tools, monthly market reports, direct connections to the EQAgent® and EQVendor® portals, rapid offer negotiation tools and more. Through these features, the Equator PRO REO solution can help servicers manage vendor oversight, maximize sales prices, shorten timeframes and reduce costs to improve their overall REO asset management execution.

To continue delivering powerful solutions in today's ever-changing marketplace, Equator is launching new and enhanced features to the PRO REO product, including:

  • New repair tracking and ROI tools -- Customers have transparency into all phases of repair from inspection to signoff, giving users the confidence to decide on the right strategy and maximize return on their assets.
  • New vacant property registration tool -- Customers can register vacant properties and be more confident that they are staying on top of local municipality requirements.
  • Upgraded third-party vendor integration for all pre-marketing duties -- Customers have the flexibility to work with either real estate agents or third-party providers to get the most effective on-the-ground marketing coverage for their properties.
  • Upgraded agent search with smart matching recommendation tool -- Customers benefit from a powerful new asset management analytics tool to help them list and sell their properties.
  • Optimized marketing on Equator.com -- Customers receive free marketing and search engine-optimized property listings to generate interested buyers.

"Equator is committed to delivering innovative and customizable solutions for customers to easily manage default portfolios of all sizes and maximize return on investment," said James Vinci, Vice President and General Manager of the Equator business. "The new product features and enhancements of Equator PRO REO will make it easier for our customers to pick the right management strategy and execute it in an automated fashion. We continue to solve the needs of mid-size servicers, providing them with a deep nationwide network of 55,000 active real estate agents and 35,000 vendors."

Additionally, Equator most recently celebrated the addition of two notable Equator PRO REO customers:

  • Trinity Financial Services, LLC is a private equity firm that purchases assets or loan pools of nonperforming second mortgages with expectations of converting a high percentage to performing status. Trinity Financial Services also specializes in REO asset management services. Trinity Financial Services utilizes Equator to manage its default asset portfolio on the same powerful platform that large banks utilize.
  • Trojan Capital Investments is a private equity firm that purchases assets or loan pools of non-performing second mortgages with expectations of converting a high percentage to performing status. Trojan Capital Investments utilizes Equator to manage its default asset portfolio on the same powerful platform that large banks utilize.

About Equator®

Equator, an Altisource® business unit, is the leading provider of default software solutions for servicers, real estate agents, vendors and other mortgage and real estate industry professionals. Equator's REO, short sale and loss mitigation modules have processed transactions totaling more than $315 billion since its inception, including nearly $16 billion in 2016. Equator is part of the Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) family of businesses. For more information, please visit equator.com.

About Altisource®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing market. Additional information is available at altisource.com.

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