MBA NEWSLINK - August 23rd, 2010
By Charles Wisniowski

In a decidedly mixed blessing, technology venders in the default management service sector anticipate their business to continue to boom in the wake of higher mortgage default rates and a real estate market that continues to struggle to right itself amid an anemic economic recovery. Read More — >

MORTGAGE BANKING - August 2010
By Warren Lutz

If the focus last year was on loan modifications, in 2010 the focus is shifting to short sales, with a new federal program designed to provide relief to borrowers for whom loan modifications are impractical or impossible.

These challenges have created a new segment within the mortgage industry of companies aiming to help servicers deal with the extraordinary demand for short sales, as well as the hurdles to getting them approved. And the hurdles are significant. Read More — >

PROGRESS IN LENDING - July 12th, 2010
By Anthony Garritano

In reflecting on current industry circumstances, (DepotPoint President & CEO Joe) Filoseta has some ideas on how to get the secondary market back in the game.

If non-government entities are to re-enter the mortgage space, Joe thinks there are some things that need to happen to get them interested in mortgage again. Read More — >

MORTGAGE TECHNOLOGY - July 2010
By Anthony Garritano

Our four major criteria for inclusion of eligible vendors and service providers on our list are customer satisfaction, functionality, market share and viable revenue model.

DepotPoint brings technology innovation to the distressed property market with state-of-the-art solutions that deliver transparency, efficiency and intelligence to every default servicing transaction. Read More — >

REAL ESTATE BELMONT HEIGHTS BLOG - May 4th, 2010

The U.S. government is encouraging short sales as a solution to the nation’s still-growing foreclosure crisis, but insight from industry players indicates that borrowers and lenders alike are having trouble executing short sale transactions. Read More — >

THE REO INSIDER - April 23rd, 2010
By Austin Kilgore

It’s a competitive world for real estate agents and brokers, especially those working in the REO universe. In addition to handling the day-to-day demands of facilitating REO property transactions, agents are always trying to market themselves.

To throw its hat into the ever-growing social media marketing opportunities that exist for agents, Bellevue, Washington-based DepotPoint launched a new Web-based service for agents to attract new short sale and REO clients. DepotPoint is a technology company that develops software for distressed asset servicing. Its primary service is TrackPoint, a software-as-a-service (SaaS) that tracks short sale and REO workflow. Read More — >

DS NEWS - April 20th, 2010
By Brittany Dunn

DepotPoint, Inc., a Bellevue, Washington-based provider of default servicing workflow solutions recently announced that it has launched a real estate agent network and modified its proprietary short sale solution to be fully compliant with the administration’s Home Affordable Foreclosure Alternatives (HAFA) program, which went into effect on April 5.

AgentConnect, the company’s new real estate agent network, is a powerful Web-based tool for qualified real estate agents who want to help troubled homeowners gracefully exit their mortgage commitment through a short sale. Read More –>

MORTGAGE ORB.COM - April 15th, 2010

DepotPoint Inc., a provider of default servicing workflow solutions, has launched AgentConnect, a tool designed to help qualified real estate agents gain visibility from DepotPoint’s short-sale and real estate owned property (REO) clients, the company says.

“More than ever, investors and servicers require real estate agents with legitimate, on-the-ground experience selling distressed properties,” says Joe Filoseta, DepotPoint president and CEO. Read More –>

MORTGAGE SERVICING NEWS - March 30th, 2010
By Amilda Dymi

“According to Joe Filoseta, CEO of DepotPoint, one critical issue for servicers today is work steps management. ‘Work steps management in this market is even more of an imperative than it’s been primarily because most servicing shops are overwhelmed with volume and they have hired an army of relatively inexperienced people whose training time is minimal.’”

Systems that guide individual employees thorough a process in a manner that provides task and timeline management are critical. “Time is money!” he says, so it is as critical to keep transactions on an asset disposition process more efficient and less costly, whether it is through a short sale or REO sale. Read More –>

MORTGAGE TECHNOLOGY - March 2010
By Anthony Garritano

“The core (servicing) platforms, for the most part, were built as accounting systems… but that’s accounting, not servicing functionality, and therein lies the fundamental problem. I think this cycle has finally awakened servicers to the idea that this side of the business, the servicing side of the business, has to step up and get to where we are on the origination and production side. I think this is fundamental.” Read More –>