Field Asset Services (FAS), a national field service provider based in Austin, Texas, has launched a new pre-foreclosure service called Avert. According to FAS, the new services help lenders reduce default expenses and avoid foreclosure.
The Avert service provides property listing reports, containing optional valuation and Multiple Listing Service data, that short sales teams can use to target high-probability short sale prospects, FAS says. Avert additionally offers claimable damages reports, research and communication services pertaining to municipal and homeowners' association fines and liens, and property condition reports, as well as time-, date- and GPS-stamped photos.
The new service also ensures compliance with the requirements of the Protecting Tenants at Foreclosure Act, FAS says.