Another reason why Stewart Lender Services® is the right partner for you.
Now more than ever, community banks are wrestling with the management of bank-owned properties. Stewart Lender Services offers a full suite of real estate owned (REO) asset management and disposition services designed to help. Stewart has been a strong part of your communities for decades, and we understand what it takes to keep those communities thriving. We also understand that REO properties are costly and often difficult to manage. Our services will enable you to help keep properties in the hands of community members.
We can provide:
- Customized Process – In our boutique environment, well-established operations are combined into seamless processes tailored specifically to meet each bank’s asset management and disposition requirements.
- Transaction Management – We offer a single point of contact who communicates with all parties involved and handles the entire transaction from start to finish.
- Contract Administration – With this service, we ensure all stages of the transaction comply with your pre-established guidelines as well as state and local laws.
- Title and Curative Services – Liquidating a customer’s assets is a critical process. Stewart has a 118-year history as a leader in the title insurance industry which gives our customers a competitive advantage for clearing title.
- Closing Coordination and Settlement Services – When an offer is deemed acceptable, Stewart Lender Services reviews all closing costs, junior liens, homeowners’ association fees, taxes and other costs to ensure they’re acceptable to the bank.
- Nationwide Coverage – For those banks having REO assets in markets outside their standard operating areas, Stewart Lender Services is familiar with real estate values and dynamics throughout the country.
- Technology Capabilities – We possess an REO technology platform offering a range of tools that allows for efficient management of REO portfolios, regardless of size. With such technology, real estate agents, vendors, closing entities and banks can work together in a fully scalable digital workspace. Our principal operational support system enables us to maintain online connectivity and file transfers in a proprietary format while providing the robust transparency and audit recordkeeping our customers expect.
- Standardized Reporting and Key Performance Indicators – This service provides customized reporting on REO transactions for the bank. Comprehensive performance metrics with three primary indicators, and over 50 data points and service levels are employed to quantify, measure, track, and report performance. Information includes number of properties received; particular stage of each property within the transaction; number of offers received and submitted; and information relative to expenses, values to sale price and closing dates.
- Management Initiatives – Our boutique environment maximizes the value of our bank interaction while driving superior performance. Effective management, business intelligence, technology and a full spectrum of value-added services enable us to grow our business strategies accordingly. Our best-in-class vendor management relationships provide reliable operational efficiencies by leveraging our one-stop-shop for REO asset management disposition. Each customer receives:
- A dedicated client relations manager
- Loan level monthly and on-site quarterly business reviews
- Increased focus on quality control initiatives
- Concentration on client partnerships