Decision Ready, a provider of default servicing compliance solutions, has released RADAR, a technology designed to assist asset managers in the disposition of defaulted mortgage assets.
The company says RADAR is applicable for managing loan sales and transfers, as well as REO disposition. The new solution complements Decision Ready's existing default processing platform, DRAW, with four key components:
- REO Desktop provides a framework to manage all REO disposition channels, including auctions, MLS listings and Internet marketing.
- Loan Sale Desktop supports single and bulk loan sale transactions for both the buyer and seller by streamlining the bidding and due diligence processes.
- Short Sale Desktop coordinates and manages the short sale process.
- Closing Desk provides a central clearing desk to review and approve offers for REO sales, REO rentals, loan pool sales and short sales.