Industry News

New platform aids in REO property recovery

Aims to control risk, minimize loss on bank-owned real estate

A new technology platform launched by legal services provider Jackson & Associates offers to manage the recovery of occupied real estate-owned property, or REO for short. The Symphony platform is designed to control the risk associated with occupied REO, and manage the legal and related processes involved in post-foreclosure property recovery. "The risks incident to the recovery of occupied REO are quite different from vacant REO, both in terms of the frequency and severity of risk exposure," Robert Jackson, president and senior managing attorney with Jackson & Associates, said. "Identifying and controlling these risks is the key to minimizing loss." Enterprise-level tools provide management insight into all REO legal process, including post-foreclosure bankruptcy matters, complex litigation, and evictions. A broker management module facilitates information transfer from assigned brokers, including regular vacancy checks. Support for ancillary recovery efforts enables mana...

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