Green River Financial Teams With Equator for Enhanced Short Sale Performance
Loss mitigation provider seeks to electronically streamline its short sale process
DALLAS, Sept. 20, 2010 – Green River Financial (GRF), which offers a pre-foreclosure short sale and deed-in-lieu program, announced today a partnership with Equator®, the leading software provider of default servicing solutions, to automate its short sale process. GRF is the sister company of Green River Capital (GRC), an REO asset management and loss mitigation provider for mortgage servicers, investment firms and banking institutions.
The relationship allows GRF to benefit from using Equator’s PRO Short Sale, an intuitive workflow platform that enables real-time, transparent interaction between parties to execute short sale initiatives. GRF will leverage Equator’s technology to automate offer management workflow, allowing buyers and agents to negotiate terms more quickly. In turn, GRF can ensure that its clients proactively meet increasing short sale demand while also improving efficiencies to reduce the number of properties in their portfolios.
“We wanted to partner with a company that not only had the technology, but also a thorough knowledge of how to address challenges in the short sale industry,” said Chris West, GRF president and CEO. “With Equator’s PRO Short Sale, we can quickly scale operations with a solution that is rapidly deployed to support our current needs in managing short sale volume.”
Other benefits of Equator’s PRO Short Sale include automated tasking and decisioning that prioritizes activities, allowing GRF to increase efficiency, reduce properties’ days on market and lower operational costs. Equator CEO, Chris Saitta, explained, “GRF recognizes that automation is a means to greater efficiency and transparency. With PRO Short Sale, the company can achieve shorter timeframes for closing short sale transactions without sacrificing quality or taking on unnecessary risk.”
“This is a critical time in the mortgage industry; we need to move quickly and efficiently to help rebuild confidence at every level,” West explained. “The short sale market will be an integral part of the industry’s recovery, and it is imperative to use every resource available in the process.”
About Green River Capital
West Valley, Utah-based Green River Capital (GRC) is a leading REO asset management and loss mitigation provider. The company leverages its proprietary technology and a nationwide network of attorneys, brokers, appraisers, contractors and title professionals to offer scaleable and customized solutions. GRC provides REO asset management, portfolio valuation/due diligence, a short sale program and rental program management. GRC’s sister companies are Green River Financial, a short sale program provider, and Infinity Valuation Services, a BPO company.
For more information, visit www.greenrivercap.com.
About Equator
Founded in 2003, Equator is the premier provider of software solutions for the default servicing industry. The company was first to introduce a comprehensive, automated short sale platform in November 2009. Equator’s REO, Short Sale and Loss Mitigation platforms have processed more than $185 billion in transactions. Currently, the EQ marketplace hosts 723,000 agents, 21,600 vendors and 20,000 sellers who contribute to 210,000 transactions daily. Equator is headquartered in Los Angeles.
For more information about Equator, please visit www.equator.com or call 310.469.9500.
Contacts:
Charlyne H. McWilliams
Media contact for Green River Capital
301.933.5567
Megan Ard
Media contact for Equator
678.781.7223