Equator, a provider of default software solutions for many of the country’s top servicers (including four of the five largest servicers and a leading GSE), real estate agents and vendors, has released its end-of-year performance metrics.
Equator’s REO, short sale and loss mitigation modules have now processed transactions totaling more than $315 billion since its inception with more than 2.2 million distressed properties sold to date.
In 2016, the company launched Equator SaaS and data services aimed at helping Equator customers improve their operational efficiency. These enhanced features drove the expansion of Equator’s PRO Suite customer roster. Equator’s PRO Suite is a turnkey SaaS solution designed specifically for mid-market customers and leverages Equator’s enterprise-class platforms for REO, Short Sale and now Foreclosure and Bankruptcy. The PRO Suite enables customers to take on larger portfolios with the oversight features built for the biggest banks.
The company increased its nationwide network of active real estate agents to more than 60,000 in 2016 and unveiled a new data-infused product called Equator Agent Elite. The Agent Elite platform has helped agents gain a competitive advantage in today’s data-driven REO marketplace; last year members received 64 percent more assignments than their non-Elite counterparts. Agent Elite provides agents access to Equator’s local REO market insights, platform training, real-time notification of uploaded REO assets and direct communication capabilities with servicers.
Additional 2016 highlights for Equator include:
- Adding another top 10 bank to its client roster;
- Having 20,000 Equator agents complete nearly $16 billion in REO and short sale transactions with over 100,000 properties sold;
- 26 million total customer transactions processed;
- 146,000 distressed properties added to the Equator platform.
“With over a decade serving the nation’s top servicers, Equator continues to deliver innovative SaaS and data products to our customers,” Equator Senior Vice President Michael C. Schreck said in a press release. “Thanks to Equator’s rich data ecosystem, our analytics can reliably identify opportunities to achieve improved economics — a game-changer for our customers.”