Foreclosure app now handles short sales

DepotPoint Inc. has added a short sale module to its TrackPoint suite of default and foreclosure applications that's intended to help mortgage lenders, servicers and property managers track and collect documents and improve communications during negotiations between home owners, buyers and mortgage companies.

The short-sale module can be used on a standalone basis or in conjunction with the company’s REO TrackPoint or Default TrackPoint applications, the company said.

TrackPoint allows asset managers, mortgage servicers and others to manage properties through the entire foreclosure process online, from initial default through short sales, auctions and real estate owned (REO) dispositions, DepotPoint said.

DepotPoint last month announced a partnership with Alpha Closing Inc. to form a network of real estate agents to assist asset managers, loan servicers and banks in selling off inventories of foreclosed properties. The Alpha Agent Network provides agents who pay annual subscription fees with access to the REO Trackpoint system, and allows them communicate with asset managers to list and sell REO properties.

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