I have several REO clients. One has recently transferred their in-house asset management to an outside agency. My contact with the in-house asset managers informs me that this occurred without too much fanfare or explanation.
The new asset manager interface is "Aspen". Is there anyone who has information about this company as to performance or other information. I have other clients that have switched to "Resnet", and that resulted in zero contact with the asset manager except what can be obtained via their online portal.
These middlemen result in slower processing of property issues that eventually result in additional expenses for each property. I know this must have something to do with lower labor costs on behalf of the bank (more people are losing their jobs), but is there anyone out there who can explain how this expedites the processing of these foreclosed/short sale properties?
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