date our REO assets,” said Rudy Krupka, vice president of real estate-owned (REO) at Specialized Asset Management. “Our strategic partnership with RealtyTrac will assist our agents in promoting the properties to interested buyers across the country.” Homebuyers and investors using RealtyTrac can easily make online offers or inquiries on the SAM-provided REO properties. Users can click on the “Bank-Owned” tab on any RealtyTrac search results page and look for properties with the “Request Info” button. “Many of our users are specifically interested in purchasing bank-owned properties, and we want to give those users every opportunity to find and purchase those properties,” said Rick
WE
ARE
Sharga, senior vice president of RealtyTrac. “This exciting new partnership with Specialized Asset Management does just that by delivering a new pool of REO properties that our users can more easily purchase.” In 2009, a record 2.8 million homes received a foreclosure filing. This represents a 21 percent increase in total filings from 2008. The number of foreclosures is expected to increase significantly in 2010 as millions of option adjustable-rate mortgages (ARMs) and Alt-A mortgages reset in the next 12 to 18 months and double-digit unemployment plagues the national economy this year. For more information, visit www.samreo.net or www.realtytrac.com.
REMN
Catalizador Private Equity Fund, a team of venture capitalists that includes Jim McMahan, Stewart Hunter and Bryan Harlan of Benchmark Mortgage, has announced the completed acquisition of MortgageDashboard, an on-demand loan origination software system enabling paperless mortgage processing for lenders, credit unions and banks. Catalizador took control of continued on page 31
WHOLESALE
At REMN, we understand that mortgage companies perform best when they focus on what’s important: their customers. We are
Specialized Asset Management partners with RealtyTrac on foreclosure listings line
industry veterans and FHA specialists who understand that every application is precious.
It’s about time.
We treat each file with the respect – and urgency – it deserves. Even better, at REMN, same-day approvals are guaranteed.*
Learn more at www.remnwholesale.com
Real Estate Mortgage Network, Inc. is located at 499 Thornall Street, Second Floor, Edison, NJ 08837. NMLS #6521. This information is for use by mortgage professionals only and should not be distributed to or used by consumers or third parties. Information is accurate as of date of printing and is subject to change without notice.
O APRIL 2010
* Same-day decisions guaranteed if file is received by 11 a.m. EST.
ALABAMA MORTGAGE PROFESSIONAL MAGAZINE
Specialized Asset Management LLC (SAM), a provider of asset marketing and disposition services to mortgage lenders, servicers and investors, has announced that it has partnered with RealtyTrac, an online foreclosure marketplace for default, auction and bank-owned properties. The partnership gives additional market exposure for foreclosed property listings provided by Specialized Asset Management, displaying them prominently to RealtyTrac’s three million unique monthly visitors. “Marketing our REO assets to RealtyTrac’s three million unique monthly visitors provides us with additional marketing visibility to help liqui-
Catalizador finalizes acquisition of MortgageDashboard
www.NationalMortgageProfessional.com O
completed the 15-hour 2010 Uniform Standards of Professional Appraisal Practices (USPAP) training course. “StreetLinks has 10 times the number of QC staff as I had when I managed one of the country’s largest captive appraisal management companies,” said StreetLinks Chief Executive Officer Steve Haslam. “We focus on delivering the highest quality ‘underwriter-ready appraisals’ that shorten our clients’ application to funding time. This simply cannot be achieved by using automated QC scrubbers deployed by traditional AMCs.” USPAP is the generally accepted performance and ethical standards for the appraisal profession. It is administered by the Appraisal Foundation, a Congressionally-authorized non-profit organization that fosters professionalism among appraisers by setting qualifications and standards. “Manual QC review of each appraisal is unique in our industry,” said Mike Floyd, StreetLinks chief corporate appraiser. “Most of our competition relies on automated scrubbers which are incapable of assessing the appraiser’s commentary and logic. StreetLinks performs an intensive line by line examination of each report for conformity with Freddie, Fannie, FHA, USPAP and lender specific underwriting guidelines. Our goal is to deliver underwriter-ready reports to our clients the first time, resulting in more efficient operations, faster loan approvals and superior loan performance.” StreetLinks provides appraisals nationwide that are fully compliant with Federal Housing Administration (FHA), Home Valuation Code of Conduct (HVCC) and all other current and pending regulations. An innovator in the appraisal management marketplace with its industry-first Certificate of Compliance and TILA-Trigger technology, StreetLinks performs manual quality control review of every appraisal. For more information, visit www.streetlinks.com.
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