LUXEMBOURG, Sept. 10, 2014 /PRNewswire/
-- Equator®, a national leader in
mortgage-servicing software, has enhanced its product suite with
its new Loan Management module to assist mortgage loan servicers
with compliance and transparency across their businesses and
technologies.
The new Loan Management module strengthens a mortgage servicer's
existing technology, making it easier to administer rules, assign
loans, reconcile portfolios and take snapshots of decisions. The
module simplifies compliance for mortgage servicers by creating
detailed audit trails and compliance checks that are documented,
stored and easily accessible for review. It can be used throughout
the entire lifecycle of default from delinquency through
liquidation.
"Our new Loan Management module makes it easier and faster for
mortgage servicers to comply with the changing regulatory
environment by providing a transparent, flexible process which is
based on our deep industry experience developed over the last ten
years," said John Vella, Chief
Operating Officer of Equator, an
Altisource® business. "We are excited to
have a customizable solution that can span the servicing spectrum
and integrate with all the existing servicing systems."
Equator supports a wide range of servicers, asset managers, real
estate agents and vendors in the mortgage industry with over 40% of
all distressed real estate processed through its platform.
Equator software is proven and has been tested by some of the
largest financial institutions in the world for compliance
capabilities, scale and security. The Loan
Management module is the latest product delivered by Equator,
strengthening Equator's full end-to-end platform including Loan
Modification, Short Sale, Deed in Lieu, Foreclosure, Bankruptcy and
REO modules.
Forward-Looking Statements
This press release contains forward-looking statements that
involve a number of risks and uncertainties. These
forward-looking statements include statements that are not
historical fact, including statements about management's beliefs
and expectations. Forward-looking statements are based on
management's beliefs as well as assumptions made by, and
information currently available to, management. Because such
statements are based on expectations as to future economic
performance and are not statements of historical fact, actual
results may differ materially from those projected.
Altisource Portfolio Solutions S.A. and its affiliates
(collectively, the "Company") undertake no obligation to update any
forward-looking statements whether as a result of new information,
future events or otherwise. The risks and uncertainties to
which forward-looking statements are subject include, but are not
limited to: the Company's ability to retain existing customers and
attract new customers; general economic and market conditions;
governmental regulations, taxes and policies; availability of
adequate and timely sources of liquidity; and other risks and
uncertainties detailed in the "Forward-Looking Statements," "Risk
Factors" and other sections of the Company's Form 10-K and other
filings with the Securities and Exchange Commission.
About Equator
Equator, a business unit within the Altisource®
family of companies, is a leading provider of default software
solutions for lenders, servicers, real estate agents and other
mortgage and real estate industry professionals. Equator's
infrastructure software as a service (iSaaS) solutions include EQ
Workstation®, EQ Marketplace®,
Midsource® and EQ Portals™, which can be used a la carte
or as an end-to-end solution. Equator's REO, Short Sale and
Loss Mitigation modules have processed more than $200 billion in transactions. Four of the
top five financial institutions currently use Equator's
platform. For more information, please visit
www.Equator.com.
About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) is a premier
marketplace and transaction solutions provider for the real estate,
mortgage and consumer debt industries offering both distribution
and content. Altisource leverages proprietary business
process, vendor and electronic payment management software and
behavioral science based analytics to improve outcomes for
marketplace participants. Altisource has been named to
Fortune's fastest growing global companies two years in a
row. Additional information is available at www.Altisource.com.
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SOURCE Altisource Portfolio Solutions S.A.