In a move it says will speed closings, Equator is now offering mortgage servicers a way to train real estate agents on servicers’ separate processes and requirements for handling short sales and REO properties.
Equator’s software-based Servicer Specific Training program is offered through the company’s EQ platform, which is used by four out of five of the nation’s biggest banks, including Bank of America, Wells Fargo, and GMAC Mortgage.
As part of the new program, Equator creates and produces training materials approved by and customized to the servicer, including short sale and REO manuals, videos, and task guidelines. Servicers can change their specific certification course materials as needed, the company said.
For servicers, Equator anticipates the program will reduce the cost of servicing loans, reduce borrower complaints, increase agent compliance, streamline agent selection, boost the quality of selected agents, and increase the success rate of closed transactions.