Jacksonville, Fla.-based REO Sentinel LLC has introduced a new technology called REO Sentinel, a patent-pending self-powered device intended to help servicers keep watch over their real estate owned (REO) properties by providing ongoing monitoring of any gases, visitors and damage from the elements that may be affecting the property.
‘For the first time, lenders and their property preservation managers can have real-time views into what is occurring in every defaulted property they are trying to market thanks to a small, patented device installed in each house,’ explains Rich Rollins, CEO of REO Sentinel.
Lenders and property preservation managers can select visibility of all events at a portfolio level, or they can examine an individual property for a more granular review, the company says. A Web-based dashboard – showing the status of each property and any alerts that have occurred over a user-configurable timeframe – is also available. Client-specific scripts allow notifications of events at the property to be made to a lender's property preservation company, Realtor or other designees.
