DRI Management Systems, Inc. introduced a new technology module Monday to automate the process of remarketing REO assets.

The California-based company explained that its new DRI Broker system facilitates direct, electronic communications between real estate agents and lenders’ REO departments, enabling asset managers to accelerate resolutions and lower servicing costs throughout the REO process.

The software is flexibly designed to work on servicers’ internal systems, supporting standard industry formats and protocols, or as part of the DRI Office default management platform.

Direct and efficient communication between asset managers and their agents and brokers is the key to

effective REO resolutions, according to Fred Melgaard, DRI’s EVP and COO.

“Automating as many of the otherwise-manual processes as possible completely raises the bar on productivity levels,” Melgaard said. “Asset managers connect quickly and easily with brokers, and because DRI Broker is accessed online, it goes wherever the broker can connect to the Internet.”

The DRI Broker bi-directional link provides secure, instant communication from the system to real estate brokers, including the transmission of asset data and supplemental attachments. DRI says the system gives asset managers the ability to issue and send tasks to broker work queues and track their progress from start to finish.

“Time-wasting phone calls for status and instructions largely disappear,” Melgaard explained.

DRI Broker’s interface also features tools to manage offers and counter-offers on properties, pre-marketing functions to track occupancy and evictions, valuation requests, information on relocation assistance, and other agreements.

In addition, property preservation steps are managed, along with rental income and expenses, as well as all phases of the listing and marketing process.

“Everything works together, sharing information and triggering workflows, notifications and service orders as predefined by the client,” Melgaard said.