marketanalysis

Market Analysis: You Have To Be Relevant

*You Have To Be Relevant*
**By Tony Garritano**

***As I always say, cool technology for the sake of having cool technology is not a winning strategy. You have to invest in cool technology that solves a real issue that your business faces. The technology has to be relevant to you. As we talk more and more about foreclosures and defaults, the topic of short sales keeps coming up. I think any technology to make short sales easier is very relevant, which is why when I heard about what Wingspan Portfolio Advisors is doing, I was compelled to tell you about it. They’re staying ahead of the curve and really trying to address the issue of doing more timely short sales. Here’s what this specialty servicer is up to:

****Wingspan Portfolio Advisors, a Dallas-based diversified servicing company, and WREN, the Wingspan Real Estate Network for agents and brokers, have launched the Wingspan Commander, a full-featured short sale technology and service platform for real estate professionals. Powered by Elk Software’s easy-to-use, award-winning transaction management technology, Short Sale Commander, this new initiative empowers real estate agents, brokers and franchises with fast, professional, full-service short sale facilitation, negotiation and closing services nationwide.

****Wingspan’s WREN affiliate has been offering short sale facilitation to the real estate community since commencing operations in 2011. The addition of the Wingspan Commander technology provides new levels of transparency, communication and ease of use for busy real estate professionals, saving them tremendous time and effort while increasing short sale success.

****As part of the new collaboration with Short Sale Commander, Wingspan will also offer access to the Wingspan Certified Short Sale, a pre-contract review service that identifies potential obstacles earlier in the process than in ordinary short sale transactions. With its Certified Short Sale and loan servicing expertise, Wingspan is able to accelerate the short sale process up to 50 percent faster than industry averages, benefiting all parties to the transactions.

****“As an industry, agents and homeowners often wait for weeks and months only to find out that a short sale file has been declined by a servicer based on an issue that could have been identified and remedied earlier in the transaction,” says Chris Plummer, Wingspan Portfolio Advisors vice president and managing director of WREN. “Wingspan’s experience with servicers, investors and mortgage insurance companies allows us to identify these issues and assist the homeowner and agent in resolving them before an offer is submitted.”

****Short Sale Commander was created by Michigan-based Elk Software to streamline short sale processing for real estate agents and brokers.

****“By adding a full-service component to our existing platform, we have now extended our offering to potentially reach 100 percent of short sale transactions,” says Erik Lovell, president of Short Sale Commander. “We selected Wingspan as our partner in this solution because of their national coverage, extreme short sale and default industry knowledge, and their excellent track record in getting files closed.”