If the thought of a property sale is worrying your community bank, what you need are professional REO services to help you from the start to the end of the process. Read this blog post to find out how outsourcing REO services can be beneficial for your community bank.
With the last recession, the mortgage industry has been finding it increasingly difficult to manage REO properties. This is especially true for smaller lenders like credit unions or community banks, as they may not be entirely familiar with the entire REO process. Let us explore the advantages of working with an REO service provider.
From mitigation of risks and extended support to shared responsibilities and access to expertise, outsourcing REO services comes with a host of benefits. Read this blog post to find out about the five benefits of working with an REO services company.
When you are trying to sell a property, your sight will be set on the sale. However, the path to selling a property can come with a number of challenges. Does a tenant occupy the property? Is it up to code? Does it have the appeal to grab a buyer’s interest? Are there repairs to be completed? The list can be endless. Without the services of a REO company, this list can keep adding up and become costly, overwhelming and hard to manage? A professional REO services company can take the bulk of this responsibility and efficiently work towards the sale of your property.
Keep reading this post to find out how outsourcing REO services can help you save on money, time and stress, thereby helping you make a faster sale.
Here are five services that every REO broker can outsource to save on cost, time and effort.
Are you an REO broker who spends countless hours on the processing and submission of bills? Do you find it difficult to keep a track of all your assets? Or maybe, keeping up with constantly changing protocols is taking its toll on you. If you are facing such issues, it’s time to opt for REO services. Not only can you save a whopping 60% on operating costs and benefit from streamlined REO operations, you will also be free to channel your time and effort into other core areas of your business.
1. REO reimbursement services
This service is indeed a boon to REO brokers. While you focus on building your business, your REO service provider will process and submit your error-free bills on time. Such prompt and accurate services will ensure that you get reimbursed without delays. With REO reimbursement services out of your hands, you can be sure to see a drastic improvement in your cashflow.
2. REO administrative services
As a busy REO broker, you may have a dozen administrative tasks lined up for the year. As you know, each of these tasks can be time consuming, leaving you with little time to complete all your scheduled tasks for the year. This is where REO administrative services come in handy. Right from placing your assets in the local MLS, generating marketing comments, performing buyer lead follow-ups, making calls, conducting HOA research or creating posts for your website, REO administrative services takes care of all your tasks. Only outsourcing REO services can give you such an advantage. Continue reading →
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