To liquidate properties, outsource companies must work with agents who are aggressive about selling REO properties. In addition, they must invest in the tactics that have traditionally attracted buyers to new homes, i.e., full, detailed multiple-listing service (MLS) listings with high-quality photography, virtual tours and print advertising. Stewart will assign properties through our approved supplier network and will manage and monitor performance through tracking, reporting, scorecards and grading systems to ensure performance standards are constantly met.
Our initial acquisition services include:
- Initial inspections and occupancy determination
- Eviction processing
- Property preservation and Securing
- Ratification, redemption and confirmation monitoring
- Financial relocation assistance
Valuation Review, Reconciliation, Market Strategies
Investors and servicers typically view gross proceeds to sales price as a proxy for maximum value -- determining the effectiveness and performance of their REO approaches against a moving (downward) target. Stewart will assist to provide maximum value benchmarked against a moving valuation.
Our goal is to minimize the timelines and costs associated with preparing a property for marketing, while ensuring our CLIENT’s performance goals are met or exceeded.
Our initial custody actions include:
- Valuation determination
- Value reconciliation
- Market strategies preparation
- Variable as-is and repaired ROI strategies
- Loss analytics and financial projections
Marketing and Services
Stewart has documented processes for each of its core competencies. These processes are compiled in our Service Level Agreement and supplied to each customer for initial review before we begin managing properties.
- Detailed marketing analytic and disposition strategies
- Real Time Offer Management System
- Web-Based Marketing Programs and Transaction Management
- Auction and Bulk Sale Programs
- Contract Administration
- Nationwide Settlement Services
- Consolidated Closing Document Management
- Proceeds and Expense Management
Title and Curative Services
- Preliminary Title Search and Grading Report
- Pre-List Title search for early identification of issues clouding title
- Title Curative
- Lien Monitoring
- Full title insurance and underwriting support
Technology and Reporting Capabilities
Our success within the REO servicing market is directly supported by a comprehensive, secure, web-accessible information infrastructure. This infrastructure and its operational procedures have been designed to fully accommodate the specific data protection, data retention, data security and regulatory compliance requirements associated with personnel, real estate and financial transactions.
Our comprehensive system allows for:
Standardized Customer Reporting
- Portfolio Overview and Analysis
- Monthly Property Statistical Reports
- Inventory Report
- Individual Property Detailed Report
- Detailed Customer Scorecards
- Monthly Status Reports
- Transition Reports
- Performance Indicator Reports
- Problem Identification/Corrective Action Reports
- Standard Deviation Performance Reporting
Key Performance Indicators (KPI’s)
Stewart uses comprehensive performance metrics with over 50 data points and service levels to quantify, measure, track, and report performance and achievement of our customers objectives and business results.
- Primary Performance Indicatiors are deemed critical measures to reach the objective of highest recovery in the shortest amount of time.
- Secondary Performance Indicators track net return in relation to the value and effectiveness of our pricing strategies.
- Tertiary Performance Indicators provide additional monitoring of the objective and internal performance.
At Stewart, we understand your needs in this ever changing market. We are experts at customizing our systems and processes to meet your business requirements. Our ability to sustain performance throughout a constantly changing marketplace sets us apart from our competitors, and enables us to meet and exceed your objectives and goals.