With the influx of new rules and regulations, property preservation is not just about mowing a lawn, securing a lock or boarding up a window; it is about preserving and maintaining the appearance of each home and neighborhood in a compliant and expedited manner.
Servicers have adapted to this new environment by finding innovative ways to do the important work of protecting and maintaining these assets through the use of mobile technology.
To meet today’s demanding regulatory requirements servicers and investors today demand property information in a timely manner, which requires visibility and transparency into multiple data points throughout the preservation process. To provide this degree of information, field service providers must deliver innovative technology solutions that ease the burden of the field service representative while delivering dynamic data to the servicer and investor.
The days of a contractor walking around the property with a notepad and an outdated camera are long gone. Putting the power of mobile in the palm of their hands is a game-changer.
The speed at which servicers can get information from their property preservation company is a critical factor in quality control. Mobile technology significantly enhances this process.
The right mobile property preservation solution brings a host of innovative technology capabilities to the job, making it faster, more accurate and more profitable for the parties involved. This type of solution should include:
>> Comprehensive, at-a-glance order review showing the field representative the status of every order: current, rejected and completed. It’s everything a field services professional needs for a complete picture of their workflow…without the error prone paperwork.
>> Intuitive, step-by-step Q&A format guides the person in the field through every work order requirement. There are no skipping steps and no extra steps. Contractor training time is significantly reduced with greater reporting accuracy.
>> Automatic compliance alerts keep everyone in the field informed regarding business critical documents. One that automatically reflects federal, state, local, and investor specific requirements.
>> GPS enabled functions allow for route-to-site mapping and geo-tagged photos, which provide date and time stamping to satisfy compliance regulations.
>> Real-time order review/order submission gives complete order information control; when the field representative is satisfied, a tap on the screen submits it for approval. Precise orders, from the field property reporting, faster payments.
Five Brothers FiveLive solution is the workflow management system that automates virtually every step of the work order process in real-time. For more than 40 years, Five Brothers has provided innovative, regulatory-compliant default management solutions that enable commercial and residential mortgage servicers nationwide to maximize asset preservation while reducing costs, streamlining operations and optimizing borrower relationships.
About The Author
Nickie Badalamenti-Kalas is president at Five Brothers. She works directly with Five Brothers CEO, Joe Bada, to oversee the daily operations and long term strategic vision of Five Brothers. A dynamic entrepreneur, business leader, and skilled executive who brings leadership, insight, and new strategies that drive customer satisfaction, revenue growth, and profitability.