Littleton, Colo.-based Lenders Asset Management Corp. (LAMCO) has formalized its REO Liquidation Management Process, a system used to manage and liquidate real estate owned (REO) properties.
The system, which has been developed over a 20-year span, enables LAMCO to turn REOs around in approximately half the time of the industry standard, the company says.
‘It encompasses all elements of the client-LAMCO REO outsourcing relationship, including plans for client on-boarding and process integration, training, service delivery standards, account management, performance review, security and continuous improvement methods," says Brandon J. Hawkes, CEO of LAMCO.
The LAMCO REO Liquidation Management Process incorporates a Web portal that connects buyers and suppliers of REO services throughout the country. The portal provides REO value-chain professionals national exposure to their services within their local business area, the company says.
LAMCO also notes that its processes for securing and reselling REOs are in full compliance with local and federal regulations.