Nations REO, Inc., a division of Foreclosure Management Company (FMC) based in Overland Park, Kansas, announced Wednesday that it has deployed DepotPoint, Inc.‘s TrackPoint platform to power the company’s REO workflow and property management operations. Nations REO has thousands of bank-owned properties under management. The company’s customers — large mortgage lenders, servicers, and private equity firms — rely on Nations REO to scale their businesses to dispose of the growing number of bank-owned, foreclosed real estate. DepotPoint, headquartered in Bellevue, Washington, explained that its TrackPoint platform allows companies like Nations REO to rapidly deploy a workflow system that scales on demand, improves their operational efficiency, and lowers their total cost of managing properties. These efficiencies in turn lower the severity of losses for Nations REO customers, the company said. The REO application is one of a set of default management applications, including short-sale, foreclosure, and loan-modification, offered by DepotPoint as part of its software-as-a-service (SaaS) platform.

“Hiring DepotPoint is one of the wisest moves we’ve made recently,” said Chuck Burton, president of FMC. Burton says his company has a unique set of characteristics in our workflow, and DepotPoint took the time to understand Nations REO’s processes, and then configure rules into their software to enhance operations and improve efficiency. “For example, we have certain protocols relative to broker communication in the context of REO disposition,” Burton explained. “Using DepotPoint’s TrackPoint platform, we ensure that these protocols are maintained, and with real-time system updates our clients know exactly what we know about their properties.”