RES.NET Releases Short Sale Portal

LAKE FOREST, Calif., Feb. 24, 2011 /PRNewswire/ -- RES.NET, an infrastructure of diverse real estate professionals and supporting software applications, has released their much anticipated Short Sale Portal.  The new portal provides Mortgage Servicers with critical tools to manage the short sale workflow process, and to connect with their borrowers and representing listing agent.  Because of the paperless system design of the portal, agents will be able to cut down on the use of fax machines and phone calls, and connect seamlessly with the mortgage servicer through RES.NET's AMP Portal.  Tasking, electronic documentation, and instant messaging keeps the agent, the borrower, and the mortgage servicer in sync, effectively transacting short sales while eliminating guess work and long gaps between communication. Additionally, the amount of phone calls to the mortgage servicer will be reduced as the status of the short sale transaction will be automatically directed to the homeowner.

In addition to the release of the Short Sale Portal for the mortgage servicer, RES.NET is launching the HomeOwner Portal, which is a secure application borrowers can go to complete the short sale application, and to connect directly with their listing agent and mortgage servicer. The Portals will be readily available on the RES.NET platform, giving both Portals full connectivity between the others, thus enabling each person in the real estate transaction to manage the workflow process, task each other, and receive instant notifications of completion of each task, ensuring the short sale remains in full compliance.

"Providing RES.NET members with a Short Sale portal that links the Servicer, the Homeowner, and the Listing Agent, gives everyone involved in a short sale transaction the opportunity to instantly and consistently interact with one another," said Todd Mobraten, COO of USRES, the parent company to RES.NET, Inc.  "The delay in the release of these applications was intentional, ensuring we could deliver a simplistic solution to all parties, free of charge. The industry has struggled with similar solutions, and RES.NET has devised a strategy and solid solution to overcome all obstacles within the Short Sale transaction. This also gives agents who are already on RES.NET that extra ability to diversify their business, which is critical to success in today's industry."

The Portals will be released on March 1, 2011, and RES.NET has secured four mortgage servicers to roll out these applications.

SOURCE RES.NET