Since the beginning of the financial crisis in the real estate industry, Real Estate Services and Technology (www.REServicesTech.com) has been providing solutions to assist troubled homeowners, attorneys, loan modification counselors and mediation firms in negotiating refinancing solutions with the borrower’s bank or servicer.
One very popular service has been the company’s REST REPORT (www.RESTREPORT.com) which has been used nationwide by more than 1,000 firms to help analyze home owners’ loan disposition options and propose affordable loan terms while still maximizing the net present value (NPV) to the bank or servicer. The software contains the very detailed logic for HAMP qualification and also presents additional viable options such as internal loan modification programs and short sale alternatives.
In the 4th Quarter of 2014, the firm launched another service, REGISTRY AUDIT (www.RegistryAudit.us). The cloud-based application uses the proven framework of the company’s proprietary Business Rules and Workflow engine to analyze vast amounts of public land record information.
“Similar to malware, cleanup or virus-scanning software, our systems can identify problem areas across any number of public record instruments and generate very detailed reports and recommended solutions,” explained Fred Popke, President of Real Estate Services and Technology (REST).
“We have libraries of analytical models that can be applied during a review, or we can implement custom models to address any specific audit criteria. We can scan an entire registry or just focus on specific instrument types.”
The software has been used to analyze public records on behalf of municipal governments, cities and county recorders’ offices across the country. Law firms have used the software to identify and document patterns and practices for class action law suits.
Forensic Loan Auditors, providing Expert Witness services involving the review and analysis of many files, can have the software leverage their knowledge and expertise across all of the files and receive instant evaluation and results.
Marie McDonnell, CFE, McDonnell Property Analytics (www.McDonnellAnalytics.com) provides Title and Securitization Forensics for consumers, homeowners, attorneys, registries of deeds and other government agencies. She has used the software for numerous larger scale projects this year. “The RegistryAudit software enables me to apply my expertise and knowledge, my checklist of examination items, across hundreds of thousands of files all at once. There is no way that I could do large scale audits without it.”
The software is available for Auditors, Law Firms, County Recorders and Financial Institutions.