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PREO
PREO Marketplace and PREO Home Owner Support were created to be the complete default marketplace and borrower support portal. PREO Marketplace increases traffic to properties, standardizes advertising, maximizes the sale process and provides opportunities for loss mitigation along the way. Advertising and traffic to properties is achieved by maximizing current legal advertising taking place in every MSA, by driving traffic via Google, Yahoo and MSN and by direct advertising. PREO enables lenders to secure a buyer for the default property before the Foreclosure sale, thereby reducing carry costs and other costs associated with taking the property in REO. The lender benefits from PREO Marketplace by getting a buyer before the foreclosure sale; reducing carry costs; bringing more eyes to REO properties; Internet marketing; legal advertising; and increasing property liquidation.
PREO Home Owner portal is a pre-foreclosure opportunity approval tool. A home owner will get a pre-foreclosure letter from their servicer/lender letting them know about PREO and the web site location. The Home Owner portal contains a work flow to help manage the process of liquidating the asset before going to foreclosure. The home owner is validated through property information loaded from a LPS file feed. Any changes to the LPS desktop are updated to PREO within the hour. The lender benefits of PREO Homeowner Support are that lenders only receive offers with a complete document package; reduced call volume; electronic communication; standard contracts; and short sale documents stored electronically.
PREO
www.preo.us.com