Race to the Moon

In the late sixties we witnessed a global race by all nation's to be responsible for the first man on the moon. Unless your a conspiracy theorist living in a trailer in the desert with sixty cats you believe the US one that race. We again now have a new race, national and international company's are participating to end recession. It is still a race for technology but we have the first place company's trying to be heard. When I call this the race to end recession we know from historical data that although these 'Company's' are not saying that's what this is about, there are several media whispers that will give the originating company this prestigious title. The plan is to have a single electronic platform that 'Learns' the lenders specific software. One of the biggest failures in Short Sale's is the lack of communication. We have tried to get lenders to use our Transaction Point software but all lenders have already invested millions in their own software which is not compatible with any other. The invention of an electronic platform that would be compatible to every lenders software would essentially wipe out Loss Mitigation and it's current horrible lack of participation in communication. Service Link is an FNF owned company and has it's 'Vision Sale' product and in second place -

Foreclosure.com Founder, President and CEO, Brad Geisen, announced today that he has built the first-ever short sales offer management system that handles marketing, processing, negotiating and closing services all in one central location.

QuickSale(SM) (www.QuickSale.com) is an easy-to-use platform that simplifies an often long and complicated process, bringing together all parties -- distressed homeowners, lenders, investors, buyers and agents -- who all share one common interest: Moving real estate inventory as fast as possible under the best terms.

"Short sales are the ultimate solution when it comes to solving the national foreclosure crisis now and in the future," said Geisen.

In short sales situations, banks or mortgage lenders agree to discount home loan balances prior to selling because of economic (local home values have plummeted) or financial (unemployment) hardship on the part of homeowners.

Geisen states that QuickSale.com helps cash-strapped homeowners avoid foreclosure and minimize the negative impact on their personal credit, allowing them to pursue alternative housing options worry-free when the time is right.

On the lender side, banks ensure instant liquidity for the defaulted loans on their books, maximizing the amount (often 80 to 90 percent of market value) that they can get out of distressed properties in a much shorter timeframe (30 to 90 days).

QuickSale.com closes the loop by bringing in agents and buyers located throughout the United States and beyond who purchase the distressed properties at negotiated prices before the banks repossess them. Agents who coordinate short sales from start to finish through the QuickSale(SM) system earn commissions.

"Banks lend money, they're not in the business of marketing and selling real estate -- certainly not on today's current scale," said Geisen. "And their loss mitigation departments are just too overwhelmed at this point. QuickSale.com is a structured tool that provides much-needed support and relief. It short circuits the entire foreclosure process to ensure the best possible outcome for all parties involved . . . quickly."

I have heard of several other software platforms but none so advanced they are actually meeting with the GSE's about enforcing servicers to use them.

-Christopher Rockey