Equator Reports 1.17 Million Short Sales Initiated
LOS ANGELES, Dec. 29, 2011 /PRNewswire/ – Equator®( ) (EQ), the country’s leading software provider of Default Servicing technology, announced in its fourth quarter report that almost 1.2 million Short Sales have been initiated since the launch of its Short Sale Module in November of 2009. The report also states that Equator’s Loan Segmentation Module has decisioned more than 875,000 loans since early 2011 and over $150 billion in assets have been sold through its platform since 2003.
“Equator now offers Servicers a complete, end-to-end Default solution,” said CEO Chris Saitta. “Our platform can handle every aspect of Default that our clients need – from Loan Segmentation to Loan Modification, Short Sale, Deed in Lieu, Invoicing, Foreclosure processing and REO,” said Saitta.
“Equator’s loan segmentation module has been a huge success with proven results,” said COO John Vella. “The enormous volume that has run through the model has allowed Equator to validate its value and we anticipate that the volume in 2012 will at least double,” said Vella.
According to Equator, compliance was the big buzz word for Servicers in Q4 and it will continue to be important in 2012. “The needs of our clients have focused on the demands for stricter compliance and Infrastructure Security,” said Vella. “We are proud of our ability to meet the challenges with our proven technology that has met and exceeded such standards. Equator has the proper Platform to grow and meet the requirements in the ever changing environment by being nimble and tested,” said Vella.
Equator recently announced plans to launch a new comprehensive software solution for Real Estate Professionals called REvolution Basic in early 2012. REvolution Basic will be the first enterprise level solution for Real Estate Professionals which will allow them to handle both distressed and traditional properties seamlessly through one system. “With REvolution Basic, Agents will now have access to the same type of workflow systems that servicers have been using,” said Saitta.
Founded in 2003, Equator is the leading provider of default software solutions. Four of the top five financial institutions currently use Equator’s Platform. Equator’s REO, Short Sale and Loss Mitigation modules have processed more than $150 billion in transactions. Currently, the EQ Marketplace hosts more than 800,000 agents, 26,000 vendor companies and 30,000 client users, all contributing to more than 250,000 transactions per day. Equator is headquartered in Los Angeles with offices in Seattle, Dallas, and Irvine, Calif.