Business & Finance
Business and Finance
Business and Finance 
Wed, May 12, 2010
We Save Homes, Inc. Strengthens Mortgage Default Services Capabilities With Real Estate Software Technology
IRVINE, CA--(Marketwire - May 12, 2010) - We Save Homes, Inc. (
- REO Management and Servicing: servicing Real Estate Owned (REO) properties.
- Property Preservation: ensuring that unoccupied properties are quickly secured and remain adequately protected throughout the default process. This segment also includes Home Rehabilitation Services: transforming a neglected property into a marketable property quickly, efficiently and cost-effectively.
- Property Inspections: offering nationwide commercial and residential inspection services, including 24-hour rush and Saturday service.
- Licensed Independent Escrow Services: an independent escrow corporation serving escrow needs throughout California.
- Short Sale Processing and Negotiations: identifying borrower candidates to list properties, streamlining and expediting the Short Sale process. A short sale is the sale of property where the sale proceeds fall short of the balance owed on the property's loan.
We Save Homes, Inc's Robert Schaefers commented, "By licensing Channel Inc.'s proprietary software system for managing our portfolio of Real Estate Default Services, we now have a fully-integrated system to serve the rapid growth in the short sale marketplace. The software system is a paperless online solution, which is configured with our own workflow, tracking and reporting rules and procedures. Moreover, our procedures are based on the U.S. Government's recently implemented Home Affordable Foreclosure Alternatives (HAFA) Program. The system will help fuel our business by saving time, eliminating errors, increasing efficiency, reducing costs, streamlining operations and optimizing borrower relationships. Channel's software platform is the perfect foundation to marry to our existing offerings because it allows us to meet all of these objectives."
John Nicholas, CEO of Channel Inc. stated, "Nearly 100 percent of companies in the real estate industry input the same data into multiple software applications daily, wasting time and money. Our software platform will enable We Save Homes, Inc. to offer faster, less expensive and more flexible default services. It is expected to bolster all segments of the Company's business, which come together under a one-stop shop."
In April 2010, the U.S. government implemented the Home Affordable Foreclosure Alternatives (HAFA) Program. With the adoption of the Home Affordable Foreclosure Alternatives "HAFA rules" introduced by the Obama Administration, industry experts expect a significant increase in short sale opportunities. The current national short sale opportunity increased by 932,234, or 7%, in the first quarter of 2010 compared to the same quarter in 2009, as reported by RealtyTrac's April 15, 2010 findings.
According to an industry expert, shorts sales accounted for 17% of all residential real estate sales in February 2010, up from nearly 13% in November, 2009. In March of this year, CNN Money reported, "Bank of America, the country's largest mortgage servicer, has more than doubled the number of short sales it processed in recent months."
Schaefers added, "The addition of Channel Inc.'s software system helps We Save Homes, Inc. establish itself as a leader in standardizing the mortgage default process which is now being imposed by the U.S. government and lenders nationwide."
About We Save Homes, Inc.
We Save Homes, Inc. provides a full-range of products and services for commercial and residential mortgage servicers throughout the nation.he Company's regulatory-compliant default management solutions save time, eliminate errors, and increase efficiency.These solutions include:
- REO Management and Servicing: servicing Real Estate Owned (REO) properties.
- Property Preservation: ensuring that unoccupied properties are quickly secured and remain adequately protected throughout the default process. This segment also includes Home Rehabilitation Services: transforming a neglected property into a marketable property quickly, efficiently and cost-effectively.
- Property Inspections: offering nationwide commercial and residential inspection services, including 24-hour rush and Saturday service.
- Licensed Independent Escrow Services: an independent escrow corporation serving escrow needs throughout California.
- Short Sale Processing and Negotiations: identifying borrower candidates to list properties, streamlining and expediting the Short Sale process. A short sale is the sale of property where the sale proceeds fall short of the balance owed on the property's loan.
We Save Homes, Inc. utilizes advanced technology solutions to streamline and simplify the default management process. The Company meets the specific needs of commercial and residential mortgage servicers throughout the nation through a technology portfolio, which includes:
- Mitigation software -- which ensures fast and efficient load modifications according to FDIC and HAMP regulations
- Document management and processing -- which is a regulatory-compliant system to enable mortgage servicers to overcome the inefficiencies and high costs of conventional document handling, while speeding and simplifying data aggregation, task management, tracking and reporting
We Save Homes Inc. provides a turnkey, full-service solution to enhance businesses and improve customer relationships.
The Company is committed to maximizing its clients' asset preservation while reducing costs, streamlining operations and optimizing borrower relationships. The technical solutions developed by We Save Homes, Inc. enables default mortgage servicers to meet the increasing demands of an ever-evolving and competitive economy.
About Channel, Inc.
Developed in 2003 as an internet based Loan Origination Software service, Channel Inc. has added additional Channels for managing Real Estate Default Services. The Company's software provides a better way of buying, selling and coordinating vendor services for real estate transactions, including; Loan Modification, Short Sales, Valuation, Eviction, Field Inspection and Reporting, Property Preservation, Property Marketing, Property Listing, Loan Origination and Sale/Closing. Channel Inc. offers three primary services; Licensing the Channel Inc. Software Service, Software integration and development services and Management Consulting services.
This news release may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements contained in this new release that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned, that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward looking statements which may be made in this release or which are otherwise made by or on behalf of the Company. Factors which may affect the Company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward looking statements include but are not limited to, those discussed in the Company's filings with the Securities and Exchange Commission.