Tag Archives: Field Asset Services

In a move to increase vendor communication and provide higher quality services to customers, Field Asset Services, whose business is tailored to the REO industry, has announced several organizational changes. The company says the restructuring will allow FAS to bring greater efficiencies and savings to its clients, while increasing scalability, reducing turn-times, and solidifying long-term relationships with its vendor network.

Field Asset Services (FAS) successfully processed more than 100 million photos in one year via FASconnect, its online photo management system for proof of performance reporting. The system captures, documents, and securely shares photos of work performed in the field. Powered by Pruvan, FASconnect GPS certification and time and date-stamping capabilities to provide lenders and service providers a ""certified"" performance guarantee of work completed on REO properties.

Field Asset Services (FAS) now provides inspections services. With this new offering, FAS is expanding Collateral Command, the company's single source solution for all services required to manage foreclosed and REO properties. The company has fine-tuned the sometimes subjective and uncertain process of inspections to provide lenders and servicers with a ""fool-proof"" service, employing a national network of more than 6,000 qualified, full-time inspectors trained and experienced in property collateral and foreclosures.

Stewart Lender Services, a nationwide provider of centralized origination, loss mitigation, and REO asset solutions for mortgage lenders and servicers, has announced three key partnerships that will allow the company to expand its service offerings. Stewart is collaborating with Inglet Blair, LLC, Spectrum Field Services, and Field Asset Services.

The market's been flooded with REOs, and banks are struggling to get these properties off their books and back into the hands of responsible homeowners. According to Field Asset Services, the answer to moving these properties faster is simple - with some pretty standard repairs, such as fresh paint and updated appliances, the company's independent market study found that lenders can cut more than two-thirds off the length of the sales cycle.

Field Asset Services (FAS) anticipates the field services industry to focus on advancing the vendor network and creating higher quality field service offerings in 2011. The company says with the decline of the housing market, the use of field services has become a core business practice for banks, servicers, and investors taking on the day-to-day maintenance and preservation of REO properties. With predictions that the REO inventory will grow in 2011, FAS says there will be greater reliance on third-party support to gain control over costs and risks.

Field Asset Services (FAS), an Austin-based provider of field services to the REO industry, recently added three members to its executive team. Karen Glasgow was hired as SVP of client operations, Loetta Arrington was promoted to SVP of business development, and Terry Sadowski was appointed chief marketing officer.

Field Asset Services (FAS) recently launched Collateral Command, a solution for property management services and support that offers lenders and servicers a single source for managing foreclosed and REO properties. Included within the Collateral Command suite is Utilities Management Service, which allows banks, servicers, and lenders to leverage FAS and its industry relationships to streamline the day-to-day tasks of managing the utilities process and payments.

Professionally rehabbed REOs result in minimized sales cycles and maximized returns.