Stewart Launches Short Sale Management Center
September 24, 2009
Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Co., has launched a dedicated Short Sale Management Center. The Short Sale Management Center is a combination of professionals and technology designed to improve the speed and efficiency of short sale transactions.
The center moves the time-consuming and labor-intensive short sale process from the lender’s operations to a real estate transaction management company.
The center includes a fully Federal Debt Collection Practices Act (FDCPA)-compliant borrower contact center. The company ties together all the disparate components of the short sale transaction with SureClose, Stewart’s transaction management platform. SureClose provides all parties involved in the short sale transaction a single electronic location to collaborate and manage required tasks and documents while providing for electronic signing of applicable documents.
“Today, short sales are presenting many homeowners with a viable and graceful exit to their delinquent mortgage,” said Jason Nadeau, president of Stewart Lender Services. “But problems arise when the process drags on and potential buyers lose interest. Stewart has over one hundred years of experience in managing and facilitating the most complex real estate transactions and by combining that experience with our innovative technology, we are able to offer a full and effective solution.”
In addition, Stewart’s Asset Recovery service (STAR) specializes in the marketing, managing and closing of troubled real estate assets. STAR works closely with the lender, investor and mortgage insurer to determine the optimal valuation and marketing strategy for each property. Additionally, the title and settlement teams work to identify any potential title issues and necessary third-party payoffs to ensure that all hurdles in the transaction are cleared before the receipt of an offer to purchase the property.
Should the short sale transaction fail to be successful, Stewart also offers a comprehensive solution for deed in lieu transactions, avoiding the costly foreclosure process.