DRI Management Systems Introduces DRI BrokerTM for Advanced REO Resolution

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New module stands alone or works with the industry’s most sophisticated default management platform for seamless automation in remarketing bank-owned real estate assets

Newport Beach, CA, July 18, 2011-- DRI Management Systems, Inc., the 27-year leader in default process management software, announces its latest innovation, an easy to use and cost-saving tool that automates the process of resolving real estate owned (REO) assets.  DRI Broker^TM facilitates Realtors’ direct, electronic communications with REO departments, enabling asset managers to accelerate resolutions and lower servicing costs in every phase of the REO process.  Additionally, the software is flexibly designed to work on servicers’ internal systems, supporting standard industry formats and protocols, or as part of the award-winning DRI Office^TM platform.

Direct and efficient communication between asset managers and real estate brokers is the key to effective REO resolutions, according to DRI Executive Vice President and Chief Operating Officer Fred Melgaard.  “Automating as many of the otherwise-manual processes as possible completely raises the bar on productivity levels,” Melgaard says.  “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 all appropriate attachments.  The ability to issue and send tasks to broker work queues and track their progress from start to finish brings unequaled control to the process.  “Time-wasting phone calls for status and instructions largely disappear,” Melgaard notes, “And that’s just the beginning.”

DRI Broker’s interface features multiple core functions and tools, including offer and counter offer management. The pre-marketing functions help track occupancy and evictions, valuation requests, relocation assistance and other agreements.  Property preservation steps are managed, along with rental income and expenses, as well as all phases of the listing and marketing process. 

“DRI Broker is a tremendous tool when used with existing systems,” Melgaard says.  “It’s even better when used with the full capabilities of the DRI Office platform.  Everything works together, sharing information and triggering workflows, notifications and service orders as predefined by the client.  DRI created this technology category over a quarter century ago, and we have never ceased to innovate,” he notes.  “DRI Broker is another great example of the power of default management technology, and we are very pleased to provide this invaluable tool to the REO segment of loan servicing.”

DRI Broker is available immediately by subscription license.  Convenient online demonstrations of DRI Office are available by calling DRI at949.242.4161 or by arrangement on the company’s website, www.DRIDefault.com.

About DRI Management Systems

Based in Newport Beach, California, DRI Default Management Services is the industry’s preeminent default solution, offering a suite of integrated default management software that can be used individually or in unison, and which can be interfaced with any other servicing or accounting system.  DRI’s flagship technology, DRI Office^TM, enables companies to expertly manage, automate and accelerate their servicing of defaulted loans, including prime and non-prime mortgages as well as secured and unsecured consumer loans. The DRI Office platform features a complete array of default management software modules, including: loss mitigation, pre-foreclosure foreclosure, bankruptcy, REO, litigation, property preservation, administration, and claims and auto/consumer loans. Clients include two of the nation’s top five servicers.  For more information, please visit www.DRIdefault.com.

 

Press Contact

Jim Hennessy

Strategic Vantage Marketing & Public Relations

JimHennessy@StrategicVantage.com

858.774.0201

 

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