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Whether users call it a one-stop shop, bounded services or component servicing, vendors are racing to leverage easy-to-use technology that can be constantly updated with new tools capable to help manage the mortgage servicing process and enhance the resale value of distressed properties.
"It is becoming much harder" for lenders and servicers to manage the still-increasing number for real estate owned properties on the market, said Eric Lichtenheld, president of Integra Group Real Estate of Tucson, Ariz. To alleviate that burden many mortgage banks, despite their size, are more and more depending on third-party service providers to reduce the time a property is on the market. According to Lichtenheld, these bank clients are always shopping for efficient REO management that allows them to increase the value of these assets "by making a home...