Fannie Mae Selects HomeTelos’ Lender Center to Support Its Property Preservation Activities

Dallas, TX. January 12, 2009 – Texas-based HomeTelosTM, LP announced today that Fannie Mae has selected the HomeTracker® Lender Center application as a workflow and document management solution to support communication, analysis, and decision-making by Fannie Mae related to property preservation efforts conducted by Fannie Mae mortgage servicers. 

The HomeTracker Lender Center solution allows Fannie Mae to streamline the process for receiving and responding to servicer requests for approval of property preservation expenses which would exceed Fannie Mae guidelines.  Lender Center manages a complete history of requests for approval, determinations, requests for clarification/explanation of determination, as well as providing information for an objective and auditable review process. This technology standardizes rules and processes for all users, dramatically increasing the resolution of first time requests, and helping both Fannie Mae and mortgage servicers better leverage resources. 

The Lender Center application, launched in 2003, has facilitated the processing of over 300,000 property preservation determinations, and is widely used by major mortgage servicing institutions.  It has reduced the re-submission rate of requests on average from 87% to 17%, and decreased the response time for property preservation requests from 10 days to 2 days. 

About HomeTelos, LP: HomeTelos, headquartered in Dallas, Texas, specializes in the development and support of web-based solutions for troubled assets and Real Estate Owned (REO) asset management and communication. Its suite of applications has supported more than 250,000 properties and vastly improved efficiency and communication among all parties in the pre-foreclosure and REO processes.   HomeTelos delivers solutions that reduce holding time and costs while improving workflow efficiency and communications. 

For more information, visit www.hometelos.com or call (800) 934-1836.

HomeTelos’ holiday spirit and Jonathan’s Place

On December 23rd, HomeTelos delivered over $300 in super-store gift cards, a truck-load of kids’ clothing and other great stuff from the Needs List posted by Jonathan’s Place. The donations were generously given by HomeTelos team members and their children.

Why, you ask? As the holidays were approaching, we at HomeTelos wanted engage our families in helping to give back to the community. After receiving some great suggestions from the team, we landed upon Jonathan’s Place and were deeply moved by the extraordinary service this non-profit organization provides to our North Texas community.

What is Jonathan’s Place? A few snippets from their amazing website…

We are an emergency shelter for abused, abandoned and neglected children, age newborn to 17 years. We are the only licensed emergency shelter in the area that serves children under the age of ten (10).

The main program of Jonathan’s Place is serving the abused, abandoned and neglected children of North Texas as an emergency shelter, providing temporary residential and treatment services. This has been the main focus of Jonathan’s Place since the fall of 1999.

Jonathan’s Place is also a Foster & Adoptive Family Program – recruiting, training and verifying foster, foster-to-adopt and adoptive families. We then place children from Child Protective Services and our emergency shelter into their care.”

Many thanks to the HomeTelos team and their families who participated in this grass-roots program to lend a hand to some of our local community’s most vulnerable children this holiday season. We hope that you continue to keep Jonathan’s Place in your thoughts throughout the year.

PAPERLESS REAL ESTATE … Are we there yet?

Real Estate experts hailed the advent of paperless offices more than 20 years ago when computers went mainstream. Although a majority of large companies and real estate firms were eager to adopt the concept, it’s only been within the past few years that the philosophy has truly started to catch on. The latest studies show that nearly 90 percent of all large corporations still operate with a high use of paper. A typical paper driven Real Estate transaction is copied more than 12 times prior to the actual closing of the transaction. That’s a lot of trees!

Bidselect.com, a real estate bidding system, ushered in the end of the long-lived dominance of paper in the Real Estate industry. With this pioneering Real Estate technology, it can safely be anticipated that many industry leaders will operate in a paperless fashion. Bidselect.com takes the guesswork out of buying and selling properties for both Buyers and Sellers. No more waiting days to meet with buyers or sellers, to spend hours reviewing stacks of paper just to get to the “bottom line“. Now, with a click of the mouse, the process can be done without paper over the internet. Offer submission, seller review and even offer negotiation – all done fast, electronically, efficiently and without paper! Buyers, sellers, brokers and agents benefit from this entirely online process. With Bidselect.com, Buyers and Sellers get exactly what they want and go green at the same time.

Bidselect.com – the future of Real Estate. Today!

Changing Lives — One Swing at a Time!

The Flower Mound Lady Jaguars swing bats daily in preparation for the 2008-09 softball season, but the Jags recently found themselves swinging hammers — and changing lives, helping Habitat for Humanity build houses for homeless and low-income families. The team partnered with First Preston Management for this welcome opportunity to make a difference with hammer-swings.

The Lady Jags and First Preston staff built walls at the Dallas Habitat Warehouse, experiencing first-hand some unexpected benefits of Habitat for Humanity. The Lady Jags Softball volunteers were thrilled to learn tasks they never thought they could do and see a final product that they literally had a hand in creating. Upon arriving for the work day, the site supervisor was a “little tenuous” about working with a group of “softball players”. By the end of the day, though, he admitted with a Cheshire-cat smile that he was “nothing short of overwhelmed and amazed at the work ethic the team brought to the build.” The Lady Jags had hoped to build 200 walls during the day, but far exceeded their goal by building 215 walls and units! After a long day of hardwood work, each Lady Jag volunteer left smiling, knowing her work made a tangible, long-lasting difference for a family in need.

While Habitat for Humanity has built more than 200,000 houses for homeless and low-income families worldwide since 1976, there are still thousands who would love the chance to become homeowners! The Lady Jags know Habitat for Humanity cannot do it alone, and they now understand that they are building much more than just houses. Only as a team can we turn a few walls into homes, hope, relationships, stronger communities and nurturing families.

HomeTracker, LP Changes Name to HomeTelos

Dallas, TX, December 15, 2008 – Texas-based HomeTracker, LP today announced its company’s name change to HomeTelosTM, LP, reflective of the Company’s expanded technology offering.  The new name is based upon the Greek word “telos” which means goal.  With a full suite of services to support the marketing and management of real estate asset portfolios, HomeTelos includes web-based solutions for the real estate industry allowing clients to achieve their goals of selling properties rapidly for excellent returns.

Founded in 2001, the company’s flagship application HomeTracker®, provides an end-to-end asset management solution for managing large real estate owned portfolios.  Since its release, over 1.6 million work orders for property management and marketing have been completed; over 1.8 million property inspections ordered and received; and over 210,000 appraisals ordered and managed.

In 2004, the suite of solutions was expanded to include BidSelect®, an online marketplace for real estate that has revolutionized the way real estate transactions are conducted.  While Hometracker is the powerful workflow management tool that drives hugely successful asset management operations, BidSelect is the innovative public face for the real estate industry.  Since its release, over 550,000 offers have been managed and over 90,000 properties have been listed and sold.   With up to 10 million page views monthly and over 250,000 registered users, BidSelect on average facilitates selling properties within 34 days for 96 percent of the list price.

HomeTrackerOne® is a solution for individual real estate professionals and smaller-sized brokerages, launched in 2007. Combining some of the best features from the HomeTracker and BidSelect products, HomeTrackerOne meets the need for end-to-end management and marketing of smaller real estate asset portfolios.

Most recently, a Loan Exit Option Program was launched to provide homeowners with a foreclosure alternative similar to the short sale, but with accelerated turnaround times and a much greater likelihood of success.  This program is unique in that it aligns the interests of Homeowners, Lenders, Real Estate Sales Professionals and Investors to enable the sale of homes in concert with the final settlement of a mortgage.

For more information on HomeTelos and its expanding technology offerings, visit www.hometelos.com or call (888) 676-9200.