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Premium member Presentation Transcript Matt MartinReal Estate Management : Matt MartinReal Estate Management Online Short Sale Management Portal MMREM + Portal success Pre Marketing creates the account in the portal : Pre Marketing creates the account in the portal Pre Marketing will then assign the borrower to the property : Pre Marketing will then assign the borrower to the property The Seller then uploads their documents directly into the portal : The Seller then uploads their documents directly into the portal Using a Check List and PDF Indexing, Pre Marketing ensures proper documentation : Using a Check List and PDF Indexing, Pre Marketing ensures proper documentation At this stage the file is assigned to an Asset Manager : At this stage the file is assigned to an Asset Manager The Asset Manager will assign the Realtor : The Asset Manager will assign the Realtor The Asset Manager can choose a realtor by name or by proximity to the subject property : The Asset Manager can choose a realtor by name or by proximity to the subject property The Realtor will then be tasked to upload their Signed Referral Agreement : The Realtor will then be tasked to upload their Signed Referral Agreement The Asset Manager will also confirm internally all other qualifying information on the Realtor : The Asset Manager will also confirm internally all other qualifying information on the Realtor At this stage the realtor is tasked to submit a BPO : At this stage the realtor is tasked to submit a BPO The BPO is completed by a local agent familiar with the respective market : The BPO is completed by a local agent familiar with the respective market The Asset Manager will set the List Price : The Asset Manager will set the List Price The Realtor will set the Listing Appointment : The Realtor will set the Listing Appointment The Realtor will upload the Listing Agreement : The Realtor will upload the Listing Agreement The Realtor will be tasked to upload the MLS and Property Photo : The Realtor will be tasked to upload the MLS and Property Photo The Asset Manager notifies the Title Company : The Asset Manager notifies the Title Company The Realtor then Determines Occupancy and will Verify Lockbox Duty : The Realtor then Determines Occupancy and will Verify Lockbox Duty The Realtor inputs HOA information (if applicable) : The Realtor inputs HOA information (if applicable) The asset manager provides weekly updates : The asset manager provides weekly updates Every week the asset manager is required to update all parties The asset manager updates the listing agent and seller via the portal Every week the asset manager will gather weekly showings and price information Monday morning reporting The Realtor is then asked to Complete the Offer Worksheet : The Realtor is then asked to Complete the Offer Worksheet The Realtor will then upload the Regional Sales Contract : The Realtor will then upload the Regional Sales Contract The Asset Manager and Supervisor will both confirm the Contract Documents : The Asset Manager and Supervisor will both confirm the Contract Documents The Asset Manager will send the Contract to the Title Company : The Asset Manager will send the Contract to the Title Company The Realtor is tasked to complete a 2nd Occupancy Inquiry and have Seller send 30 Day Notice to Vacate if Tenant Occupied : The Realtor is tasked to complete a 2nd Occupancy Inquiry and have Seller send 30 Day Notice to Vacate if Tenant Occupied The Title Company will upload the Prelim HUD-1 : The Title Company will upload the Prelim HUD-1 The Negotiations’ Supervisor will assign a Negotiator to approve the Prelim HUD-1 : The Negotiations’ Supervisor will assign a Negotiator to approve the Prelim HUD-1 The Negotiator will compile the Short Sale Package in PDF and send to the Lender(s) : The Negotiator will compile the Short Sale Package in PDF and send to the Lender(s) The Negotiator will provide current Stages of Negotiations : The Negotiator will provide current Stages of Negotiations The Asset Manager provides Weekly Updates (Negotiations Phase) : The Asset Manager provides Weekly Updates (Negotiations Phase) Asset Manager / Negotiator Seller Loan Servicer Mortgage Investor Mortgage Insurer Buyer HOA Liens Buyers Lender’s Primary Pool Junior/ 2nd Lienholders Housing Counselor Once the property is ready to close the negotiator will upload the Ready to Close (RTC) documents : Once the property is ready to close the negotiator will upload the Ready to Close (RTC) documents The Seller will Download, Sign, and Upload the RTC documents : The Seller will Download, Sign, and Upload the RTC documents The seller will download, sign, and upload the Demand Letter Release Form : The seller will download, sign, and upload the Demand Letter Release Form The Asset Manager will send (NPI Protected) Demand Letters to Buyer’s Agent : The Asset Manager will send (NPI Protected) Demand Letters to Buyer’s Agent The Asset Manager monitors regional contract performance (Closing Phase) : The Asset Manager monitors regional contract performance (Closing Phase) Buyer’s Appraisal Buyer’s Financing Home Inspections HOA Documents Cash for Keys (if applicable) POA Title and Escrow Any other Contingency and Right of Rescission Periods The Asset Manager will inquire about POA : The Asset Manager will inquire about POA The Asset Manager will send a Commission Invoice to the Listing Broker : The Asset Manager will send a Commission Invoice to the Listing Broker The Asset Manager will get an update from the Buyer’s Lender : The Asset Manager will get an update from the Buyer’s Lender The Realtor will confirm the Closing Date : The Realtor will confirm the Closing Date The Title Company will upload the Signed HUD-1 : The Title Company will upload the Signed HUD-1 Closing : Closing e asset Verify funds transfer Save a copy on Virtual hard drive Shred NPI The Asset Management Supervisor will Close the file and submit to Post Close / Accounting You do 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opd 2 MMREM Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 127 Category: Product Traini.. License: All Rights Reserved Like it (0) Dislike it (0) Added: November 10, 2009 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Matt MartinReal Estate Management : Matt MartinReal Estate Management Online Short Sale Management Portal MMREM + Portal success Pre Marketing creates the account in the portal : Pre Marketing creates the account in the portal Pre Marketing will then assign the borrower to the property : Pre Marketing will then assign the borrower to the property The Seller then uploads their documents directly into the portal : The Seller then uploads their documents directly into the portal Using a Check List and PDF Indexing, Pre Marketing ensures proper documentation : Using a Check List and PDF Indexing, Pre Marketing ensures proper documentation At this stage the file is assigned to an Asset Manager : At this stage the file is assigned to an Asset Manager The Asset Manager will assign the Realtor : The Asset Manager will assign the Realtor The Asset Manager can choose a realtor by name or by proximity to the subject property : The Asset Manager can choose a realtor by name or by proximity to the subject property The Realtor will then be tasked to upload their Signed Referral Agreement : The Realtor will then be tasked to upload their Signed Referral Agreement The Asset Manager will also confirm internally all other qualifying information on the Realtor : The Asset Manager will also confirm internally all other qualifying information on the Realtor At this stage the realtor is tasked to submit a BPO : At this stage the realtor is tasked to submit a BPO The BPO is completed by a local agent familiar with the respective market : The BPO is completed by a local agent familiar with the respective market The Asset Manager will set the List Price : The Asset Manager will set the List Price The Realtor will set the Listing Appointment : The Realtor will set the Listing Appointment The Realtor will upload the Listing Agreement : The Realtor will upload the Listing Agreement The Realtor will be tasked to upload the MLS and Property Photo : The Realtor will be tasked to upload the MLS and Property Photo The Asset Manager notifies the Title Company : The Asset Manager notifies the Title Company The Realtor then Determines Occupancy and will Verify Lockbox Duty : The Realtor then Determines Occupancy and will Verify Lockbox Duty The Realtor inputs HOA information (if applicable) : The Realtor inputs HOA information (if applicable) The asset manager provides weekly updates : The asset manager provides weekly updates Every week the asset manager is required to update all parties The asset manager updates the listing agent and seller via the portal Every week the asset manager will gather weekly showings and price information Monday morning reporting The Realtor is then asked to Complete the Offer Worksheet : The Realtor is then asked to Complete the Offer Worksheet The Realtor will then upload the Regional Sales Contract : The Realtor will then upload the Regional Sales Contract The Asset Manager and Supervisor will both confirm the Contract Documents : The Asset Manager and Supervisor will both confirm the Contract Documents The Asset Manager will send the Contract to the Title Company : The Asset Manager will send the Contract to the Title Company The Realtor is tasked to complete a 2nd Occupancy Inquiry and have Seller send 30 Day Notice to Vacate if Tenant Occupied : The Realtor is tasked to complete a 2nd Occupancy Inquiry and have Seller send 30 Day Notice to Vacate if Tenant Occupied The Title Company will upload the Prelim HUD-1 : The Title Company will upload the Prelim HUD-1 The Negotiations’ Supervisor will assign a Negotiator to approve the Prelim HUD-1 : The Negotiations’ Supervisor will assign a Negotiator to approve the Prelim HUD-1 The Negotiator will compile the Short Sale Package in PDF and send to the Lender(s) : The Negotiator will compile the Short Sale Package in PDF and send to the Lender(s) The Negotiator will provide current Stages of Negotiations : The Negotiator will provide current Stages of Negotiations The Asset Manager provides Weekly Updates (Negotiations Phase) : The Asset Manager provides Weekly Updates (Negotiations Phase) Asset Manager / Negotiator Seller Loan Servicer Mortgage Investor Mortgage Insurer Buyer HOA Liens Buyers Lender’s Primary Pool Junior/ 2nd Lienholders Housing Counselor Once the property is ready to close the negotiator will upload the Ready to Close (RTC) documents : Once the property is ready to close the negotiator will upload the Ready to Close (RTC) documents The Seller will Download, Sign, and Upload the RTC documents : The Seller will Download, Sign, and Upload the RTC documents The seller will download, sign, and upload the Demand Letter Release Form : The seller will download, sign, and upload the Demand Letter Release Form The Asset Manager will send (NPI Protected) Demand Letters to Buyer’s Agent : The Asset Manager will send (NPI Protected) Demand Letters to Buyer’s Agent The Asset Manager monitors regional contract performance (Closing Phase) : The Asset Manager monitors regional contract performance (Closing Phase) Buyer’s Appraisal Buyer’s Financing Home Inspections HOA Documents Cash for Keys (if applicable) POA Title and Escrow Any other Contingency and Right of Rescission Periods The Asset Manager will inquire about POA : The Asset Manager will inquire about POA The Asset Manager will send a Commission Invoice to the Listing Broker : The Asset Manager will send a Commission Invoice to the Listing Broker The Asset Manager will get an update from the Buyer’s Lender : The Asset Manager will get an update from the Buyer’s Lender The Realtor will confirm the Closing Date : The Realtor will confirm the Closing Date The Title Company will upload the Signed HUD-1 : The Title Company will upload the Signed HUD-1 Closing : Closing e asset Verify funds transfer Save a copy on Virtual hard drive Shred NPI The Asset Management Supervisor will Close the file and submit to Post Close / Accounting