Default Servicing Technologies, LLC (DST) recently introduced a new Web-based REO workflow platform for residential and small commercial properties.

The new system is modeled after the company’s flagship asset management software, DispoSolutions, but has been specifically designed to serve small to medium-sized banks, credit unions, outsourcers, and hedge funds.

“The majority of REO platforms have concentrated on large financial institutions so we took our enterprise product and modified it according to the needs of smaller financial institutions” explained James Clark, CEO, DST.

The workflow system serves as a portal for all parties involved to create a paperless property management solution. DST says the platform features a point-and-click interface that allows its clients to manage the entire REO process, from pre-REO to post-close. Reporting features are also incorporated into the system.

According to DST, its REO management platforms now offer users of any size an out-of-the-box, Web-based solution that will reduce the timeline of REO portfolios and increase staff efficiency.

Default Servicing Technologies, located in Glencoe, Illinois, was established in 2006. In addition to its REO management solutions, DST has developed valuation management software.