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Fidelity Information Services, formerly Alltel, has entered into a strategic alliance with REO.com to develop an interface that will pre-populate fields on REO.com's website with data from Fidelity's Mortgage Servicing Package to reduce costs for lenders and those involved in the management of defaulted loans.
REO.com, based in Sacramento, Calif., provides the Offer Management System as well as an online marketplace for distressed real estate-owned properties. These services allow investors to make offers on properties that have been removed from foreclosure due to a lack of sufficient bids.
By placing the property on the REO.com website, customers can view properties and make bids through an agent, who can then either ...
Source: HighBeam Research, Fidelity and REO.com Join Forces.(Brief Article)