Equator Launches Servicer-Specific Training Program for Short Sale and REO Real Estate Agents
Software-based program increases compliance, closing ratios, and time to close for short sales and REO sales by training agents on servicers’ unique guidelines and standards
Los Angeles, CA — August 27, 2012 — Equator, the national leader in default servicing technology, has launched its Servicer Specific Training program to enable mortgage servicers to train real estate agents on their exact short sale and REO sale processes and standards. The program is provided through Equator’s EQ Platform and can be customized to each servicer’s unique requirements, thereby enhancing compliance, performance and borrower experience—all based on the servicer’s specific needs and objectives.
“It’s one thing for real estate agents to have a strong track record of handling short sales and REOs, but it’s quite another to meet the servicer’s unique standards and workflows,” said Equator CEO Chris Saitta. “Our Servicer Specific Training adapts to any servicer’s program, ensuring that agents who receive certification from a particular servicer will be more prepared to handle any assignment that comes from that servicer.”
As part of the program, Equator creates and produces servicer-approved training materials such as short sale and REO manuals, videos and task guidelines. Agent training courses are hosted through the EQ portal and the Equator EQ Learning Management System, which not only offers universal access to agents, but also helps them become proficient with Equator’s platform, fully preparing them for accepting and successfully completing assignments. Servicers can maintain, amend and update their specific certification course materials as needed.
By training real estate agents through the Servicer Specific Training program, servicers can:
- Reduce costs to service loans
- Increase agent awareness of the servicer’s compliance standards
- Reduce borrower complaints
- Streamline the agent selection process and elevate the quality of selected agents
- Increase the success rate of closed transactions
“Short sales and REO involve a lot of variables—there’s no such thing as one-size-fits-all when it comes to servicers’ margins, guidelines or objectives,” Equator COO John Vella said. “Servicer Specific Training is a win-win for everyone. Servicers get access to agents who are more conscious of compliance issues and can often help sell their properties more quickly. Real estate agents gain the competitive edge of being knowledgeable professionals in the market, and increase their chances of closing their deals faster. Homeowners benefit from a streamlined transaction with greater speed and fewer headaches. We’re proud to offer a way for our servicer clients to work more efficiently with the thousands of real estate professionals who have already learned how to leverage the Equator platform and the thousands more who will join them.”
Founded in 2003, Equator is the leading provider of default software solutions for lenders, servicers, real estate agents and other mortgage and real estate industry professionals. The company’s infrastructure software as a service (iSaaS) solutions include EQ Workstation, EQ Marketplace, EQagent, EQ Midsource® and EQ Portals, which can be used a la carte or as an end-to-end solution. The company’s REO, short sale and loss mitigation modules have processed more than $150 billion in transactions. Four of the top five financial institutions currently use Equator’s platform. Equator is headquartered in Los Angeles with offices in Seattle, Dallas, and Irvine, California. For more information, please visit Equator.com.