HomeTelos

First Preston HT Celebrates 26th Anniversary

HeartTree26th.v4 copyOn February 14th, the First Preston HT family of companies celebrates 26 years of business innovation and exemplary customer service. First Preston HT extends appreciation to our employees, our national network of associates, and our clients who have helped to cultivate a legacy of business success and community service.

The First Preston HT family of brands includes:  First Preston, HomeTelos, HomeTracker, BidSelect, Lender Center, HT Solutions and Outdoor Quota Solutions.  To learn more about First Preston HT, visit www.FirstPrestonHT.com.  Remember to Like us on Facebook and follow us on Twitter.

Attention Missouri Selling Brokers: Buyer Select News

Missouri Selling Brokers  You’re Invited:

AnnouncementEffective August 23, 2013, HUD will be implementing a “Buyer Select” closing agent program in Missouri.  All buyers whose contracts are executed on or after August 23, 2013, will now select their own closing entity.

To introduce this program to the industry, HomeTelos will provide an overview of the Buyer Select Program to industry partners that are involved in the sale of HUD Homes.

Webinar Training is as follows:

Event Name: BUYER SELECT CLOSING AGENT PROGRAM EXPANDING IN MISSOURI

Event Duration: Join us for a webinar on Friday, August 16, 2013 from 11:00-12:00 PM CDT

Event Description: The new “Buyer Select Settlement Agent” program will be introduced and an overview of the process will be provided.

Registration: The following is the registration link to register for the webinar: https://attendee.gotowebinar.com/register/9017745021889108992 (No Longer Active Link)

Register early as space is limited.

After registering, you will receive a confirmation e-mail containing information about joining the webinar.

Please don’t forget to mute your phone, once you are on the call.  The code to mute and to unmute your phone is *6.  Also be sure to be on time as the virtual door will close once the meeting gets underway and late comers will not be allowed access to the call.

View System Requirements

HomeTelos Express: Our visits to Pueblo and Durango CO

On this round we visited Muldoon and Associates and Trend Equity Group. We even had time for a quick Pikes Peak sighting and put our lives at risk on the Royal Gorge Bridge!

Warren Buffett: Bullish on real estate

We’ve been in the REO services industry since the late 80’s and we’ve seen a lot of things come in go in those years. But we’ve discovered something new that we wanted to make sure that you knew about.

Warren Buffett has built the 2nd largest Real Estate Brokerage chain in the country.

That’s right, while you were looking the other direction one of the world’s most prominent investors has decided that real estate would be a good asset and pushed his chips in that corner.

His company is called Home Services America and is based in Minneapolis, Minnesota. It is a subsidiary of Berkshire – “controlled” Mid-American Energy Holdings. The umbrella of amenities for HAS includes a plethora of settlement services, such as mortgage, title and escrow, relocation and insurance..and they are on pace to add 4-6 regional chains this year.

Here’s the other interesting wrinkle to the company. After acquisition, the local Brokerages are encouraged to keep their company names and the owners must remain involved in the business. Homes Services of America provides well thought out business systems and backend tools in to support the local brokerage. Financially, it’s like putting the best regional brands on steroids.

If Warren Buffett thinks that real estate is a profitable investment, we think that indicates something that we’ve known all along. The future for the real estate industry is bright.

What do you think?

HomeTelos LEO Program Achieves Market Success as Foreclosure Alternative

US-TX, Dallas, October 21, 2009 – HomeTelos Loan Exit Option (LEO) program has demonstrated market success as an effective approach in avoiding foreclosure for borrowers, investors, and mortgage servicers.  The LEO pre-foreclosure home sale program is faster and has significantly higher closing success rates than traditional short-selling programs. The HomeTelos LEO system aligns the interests of borrowers, servicers and other interested parties through its unique workflow management system, which qualifies properties for pre-foreclosure sale.  When qualified, LEO then facilitates property sales through its dynamic online marketplace that brings motivated sellers & buyers together.   Mortgage servicers can better help borrowers avoid foreclosure through HomeTelos’ integrated and streamlined LEO system and processesCostly, frustrating, and ultimately unsuccessful sales efforts are avoided without heavy staff demands being imposed on servicing operations.    

Since LEO’s launch last year, LEO properties upon listing have averaged 37 days on market, 4 offers per property and sales prices that average 96 percent of list price.  A key to this success is real-time communication between real estate brokers, servicers and investors, allowing LEO to average only 3 days from  buyer’s offer submission to servicer’s acceptance or rejection.  According to a Florida borrower, “we were getting nowhere, losing our job then our home.  We appreciated the quick action in getting our short sale resolved in this market”.  LEO provides loan servicers with assurance that the property is widely marketed, offers represent real market value and that closing issues are resolved in advance.  Borrowers avoid foreclosure proceedings, critically damaged credit ratings and the threat of lender recourse for loan payment shortfalls. 

According to HomeTelos President Stephen Polley, “LEO’s success is driven by its breakthrough combination of innovative technology and re-engineered workflow processes for achieving the combined critical objectives of servicers, borrowers and other interested parties.  LEO provides a way for families under financial stress to have a mortgage option that allows them to relocate with dignity.”  

The Loan Exit Option (LEO) system process is patent pending.  

About HomeTelos, L.P.:  HomeTelos is headquartered in Dallas, Texas and specializes in the development and support of web-based solutions which support the management and marketing of real estate assets, including pre-foreclosures and foreclosures.  For more information, visit www.hometelos.com or call (888) 676-9200.

HomeTelos LEO: On the Cutting Edge of Something Great!

Comment from a Platinum performing agent in Los Angeles, CA:  “Nothing is forever in this business and your ability to adapt to the changing marketplace will ensure your survival.  I think the move to focus on LEO is a brilliant move.  I think your company is on the cutting edge of something great.  I don’t see REOs flooding the market.  I see a measured pace for REOs especially as the number of workouts and short sales continue to increase.  I think the LEO program will be a great success in California.  I recognize that it’s a privilege to work with your company.

HomeTelos LEO Program Announcement

HomeTelos LEO launched its pilot program in 4Q 2008.  The pilot results have been extremely encouraging.  Participating brokers have sold most of the properties assigned at current market prices, while averaging only 29 days on market!  Most exciting have been the positive responses we’ve received from homeowners, brokers and title companies who have experienced the successful results of a completed short sale.  Here are a few of their comments…

  •  “The homeowner was cooperative.  The property was well maintained, the pricing was in line with my BPO and, the sale occurred quickly…I think this program is great”!!! 
  • Overall experience was very good. Communication from the HomeTelos team was great”!
  • “The ease in which we were able to get answers from the lender via HomeTelos exceeded my expectations”!

Expansion of the HomeTelos LEO Program is imminent, but for good reason lender resources have been focused on keeping people in their homes over the past few months, delaying the referral of many potential leads.  In the meantime HomeTelos plans to add an additional loan servicer and continue expansion of the program in the months ahead.

Working together, we will help families, lenders and our markets achieve better outcomes by avoiding foreclosures.  Visit www.hometelos.com for additional information on the HomeTelos LEO Program and pre-approved short sales.

Broker Feedback on HomeTelos LEO Program

Earlier this week, I contacted one of our brokers to inquire about a property status. At the end of our discussion, the broker informed me about a new program he was working pertaining to the HomeTelos LEO program.

He stated he has received several referrals so far and has been pleased with the results. He continued to state that this program is a great solution for homebuyers who are at risk of default. In addition, he mentioned how smooth the processes have been and is excited about this program.

The HomeTelos LEO program avoids the hassles and delays of a traditional short sale due to pre-approved terms established up front with the lender servicing the loan; therefore, providing an overall pleasant experience for all parties involved.

Wear Your Name Badge

I was on the plane traveling from Orlando to Dallas (via Houston), when, wouldn’t you know it, I found myself surrounded by Keller Williams’ brokers and associates! I know the shuttle was one classroom-in-miniature, but now I had another opportunity.  I seized the day!!

I took note of the lady beside me in seat A, since she was professionally dressed on a 9pm flight. Comfort is sometimes the priority when you are “just flying”, but I’ve found that what you wear earns attention! So, of course, I paid attention (something all the women in my family seem to do).  Her name badge caught my eye, _____ Keller Williams. Could this be? Have I been given another opportunity to talk real estate? With my passion for real estate, it is an enjoyable subject for me, so it’s hardly “work”.

I began my “questionnaire” … Have you utilized BidSelect, do you specialize in REO’s, how do you feel about the real estate industry today, and so forth. Then I began my explanation of “Look what is available to you and your office!” She seemed pleased with the possibilities, but shared with me that she was very overwhelmed by all the technology that was introduced at the National Convention she had attended, even after being in real estate for many years.  She also told me how frustrating short sales are. My goodness, am I a natural at setting the stage or what?! I talked about BidSelect and its user-friendly features. I talked about the wonderful cooperative sale offered through HomeTelos.  Then I explained how the services of our brokers in REO make them the cream of the crop (which we are always looking for!). At this point, a tap on my shoulder was followed by “May I have your card? I have been eavesdropping, and I too am a Keller Williams broker. I am very interested in what you have been saying.” I was surrounded!!!! I gave my cards out and received some. (So glad I keep my cards readily available!!! Hint, hint!)

This all began because a real estate professional wore her name badge. When I was teaching real estate classes, I would say, “One of the least expensive, yet most valuable marketing tools you can use is wearing your name badge… everywhere!”  Except, perhaps, church.

Until next time, I’m back on the road. Take care, and remember to Wear Your Name Badge!