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.