Seven key services completed in seven days for REO assets
HOUSTON (February 22, 2011) – Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, has partnered with Field Asset Services (FAS), the nation’s leading provider of field services to the REO industry, to offer lenders, servicers and investors a comprehensive REO asset management/disposition solution completed typically in seven days for a flat fee. This unique offering combines the skills and experience of two of the industry’s leading default outsourcers, along with their “best-in-class” network of providers, for a fast, all-inclusive answer spanning post-foreclosure to listing readiness that includes title and closing services.
The solution, named “7 in 7,” offers the seven primary services required for effective REO asset management and disposition on a nationwide basis completed in an average of seven days in most locations. These services include:
- Utilities Management
- Marketing Strategy
- Title Search, Curative and Commitment
- Closing (whenever the property has been sold)
“We know that the key to success for our REO customers is getting their assets to sale as quickly as possible,” said Jason Nadeau, president of SLS. “This offering is a single-source launching pad for getting those assets on the market.”
“Providing these services for customers in a short time span is a tangible benefit,” said Dale McPherson, president of FAS. “It’s all about details and effective action. No one else in the industry can provide all these services at this level of quality this quickly to begin marketing an asset in seven days.”
About Stewart Lender Services
Stewart Lenders Services (SLS), a wholly owned subsidiary of Stewart Title Company, is a nationwide provider of centralized origination, loss mitigation and REO asset solutions for mortgage lenders and servicers. With more than a century of experience matched with the industry’s leading technologies, SLS helps lenders and servicers meet the rapidly changing demands of today’s market. SLS has the financial strength, industry knowledge and proven flexibility to perform throughout the lifecycle of a loan. More information can be found at http://www.stewartlenderservices.com.
Stewart Title Company is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com, subscribe to the Stewart blog at http://blog.stewart.com or follow Stewart on Twitter @stewarttitleco.
About Field Asset Services
Field Asset Services (FAS) is the premier Property Preservation, REO Maintenance and Repair Services company in the United States, servicing more than $7.3 billion in residential assets on behalf of its clients. FAS works with 26 mortgage and asset management clients nationwide, servicing more than 120,000 active properties on a recurring basis. For more information about FAS, please visit. www.fieldassets.com .
About FirstService Corporation
FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U) is a global diversified leader in the rapidly growing real estate services sector, providing services in commercial real estate, residential property management and property services. Industry-leading service platforms include Colliers International, the third largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America’s largest provider of property services through franchise and contractor networks. FirstService generates over US$1.8 billion in annualized revenues and has more than 18,000 employees worldwide. More information about FirstService is available at www.firstservice.com.