TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/615609
10 | TH E M R EP O RT MTECH property-related technology solutions for asset management, property preservation, vendor management, and compliance. "We are delighted that Brookstone Management, LLC has selected our solutions, Aspen iProperty® and Aspen iRecord® to enhance their offering," said Ed Buckley, president of AGS. "Their commitment to use vendors that have been credentialed and background checked to the industry standard through Aspen iRecord™, is a welcome endorsement. Our solutions provide internal controls and third party vendor line of sight, from point of work order assignment to point of service delivery, thus providing documented and auditable proof of regula - tory and client compliance." Chronos Solutions & RealtyBid Unveil Trustee Sale Plus Auction Service TRUSTEE SALE PLUS IS A COMPREHENSIVE SOLUTION THAT HELPS RISK IN THE DISPOSITION PROCESS. C hronos Solutions, formerly Matt Martin Real Estate Management, a diversified national real estate services firm, recently introduced a new service to help sellers in the disposition of HUD, VA and non-performing loan (NPL) sales via its affiliate company, RealtyBid. Trustee Sale Plus is designed to diminish servicers' transaction risk in the event a third party doesn't purchase the property at the courthouse auction, according to Chronos. RealtyBid is the only company in the country that can immediately provide second-chance online auctions, "plus" title curative, and Chronos' signature HOA/ Condo Lien Identification and Resolution service, collectively called ConveyancePrep. Chronos noted in its release that ConveyancePrep is available to support any servicer or institutional investor with assets in need of conveyance or marketable title assistance, and is included for free when utilized under the Trustee Sale Plus program. Matt Martin, CEO and co-founder of Chronos Solutions, noted that the new program offers "unparalleled value to the servicing community. The title curative process can be expensive, and many servicers simply aren't set up to do it." Martin also pointed out that a number of other realities routinely make the process cumbersome for servicers. "Some foreclosure attorneys fail to cure title completely, leading to costs and delays. HUD requires any Home Owner Association obligations, such as liens and fees, to be current at the time of conveyance, but identifying those obligations can be a major challenge," he said. "Also, if a property isn't conveyed in a timely manner, the resulting fees and penalties can be massive and cost prohibitive for the servicer," Martin continued. "There are significant time and cost savings for a servicer by allowing a trusted third-party provider such as Chronos to manage its auction programs through a product like Trustee Sale Plus. We are aware of no other service program in the industry that overcomes the inherent challenges as comprehensively." "We have very strong experience and a proven track record in driving traffic and selling distressed assets through various channels including at the courthouse steps, online, and in ballroom settings," said RealtyBid President Tony Isbell. "This service offering will drive more third-party sales for sellers and assist in reducing carrying costs associated with distressed assets. For those assets that don't sell at auction, we provide the additional peace of mind through our "plus" program of helping make sure those properties are ready to be disposed of by "The title curative process can be expensive and many servicers simply aren't set up to do it." —Matt Martin, CEO and co-founder of Chronos Solutions Knowledge WHY LIA? The Largest Provider of E&O Insurance to AMCs in the U.S. SINCE 1977 POLICIES SPECIFICALLY DESIGNED FOR AMCS COMPETITIVELY PRICED COVERAGE NATIONWIDE COVERAGE WITH "A" RATED COMPANIES STATE AMC BONDS WITH NO ADDED FEES Contact Susan Lomeli Susan@liability.com Ph: (800) 334-0652 X 139 Fax: (805) 962-0652 www.liability.com CA License #0764257 Administrators & Insurance Services LIA_AMC_Print_Ad_Knowledge_2.2917x9.125.indd 1 2/11/15 7:18 PM