Equator Celebrates 2016 Successes Highlighted by New Products and Customers
February 13, 2017
End-of-year metrics reveal the Equator platform supported 20,000 real estate agents to complete nearly $16 billion in REO and short sale transactions with over 100,000 properties sold
LUXEMBOURG, February 13, 2017 – Equator, a leading provider of default software solutions for many of the country’s top servicers (including four of the top five largest servicers and a leading GSE), real estate agents and vendors, today 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.
2016 saw the launch of new 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.
2016 also saw Equator increase its nationwide network of active real estate agents to over 60,000 and unveil 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 include:
- Equator added another top 10 bank to its client roster
- 20,000 Equator agents completed 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,” said Michael C. Schreck, senior vice president of the Equator business. “Thanks to Equator’s rich data ecosystem, our analytics can reliably identify opportunities to achieve improved economics — a game-changer for our customers.”
Equator will be at the MBA National Servicing Conference this week in Dallas, Texas. Visit Booth #907, Fort Worth 5 Meeting Room, or call Mia Semo at 310-351-3788 for more information.
Equator, an Altisource® business unit, is the leading provider of default software solutions for servicers, real estate agents, vendors and other mortgage and real estate industry professionals. Equator’s REO, short sale and loss mitigation modules have processed transactions totaling more than $315 billion since its inception, including nearly $16 billion in 2016. Additional information is available at equator.com.
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. Altisource’s proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.