New Internet Features Include Automated Valuations, Appraisals.(Brief Article)

Ocwen Realty Advisors now is offering vendor management services in addition to other collateral risk management products such as appraisals, broker price opinions, and automated valuation modeling through its recently launched website, www.ocwenrealtyadvisors.com.

David Babbitt, director of business development, said that the performance of vendors dealing with assets in the field, such as real-estate owned, is paramount to maximizing returns for lenders.

"Our new website and Internet-based approach to vendor management enable ORA to enhance service levels to our clients by providing our vendors an efficient means by which to administer their day to day business," Mr. Babbitt said.

Vendors can accept, track and complete orders from lenders and other customers through a link with Ocwen Technology Xchange's REALTrans application.

Bill Krueger, vice president of Ocwen Realty Advisors, said Ocwen has created a scoring system to evaluate the performance of vendors and ensure that lenders receive valuations from the best providers serving a given market.

Ocwen has created a scoring system that grades vendors based on the quality of their work and the service they provide.

Wholesale lenders are among the biggest users of valuation services. In addition, lenders buying large portfolios of loans may use valuations as part of the due diligence done on the portfolio. Michael Short, vice president of ...