Austin, TX (PRWEB) September 12, 2011
Field Asset Services (FAS), the nations leading provider of field services to the REO business, today announced the availability of the Companys new pre-foreclosure service named Avert. By utilizing integrated advanced technology and building on FASs knowledgeable staff, Avert delivers banks and servicers, for the initial time, a single source solution to decrease default expenditures and stay away from foreclosure.

With housing costs continuing to fall and the number of vacant homes on the rise, banks are below enhanced stress from regulators and the public to increase their loss mitigation good results rates. In addition, the number of pre-foreclosed properties yet to be foreclosed upon is increasing. According to a current report by Regular and Poor, it could take almost four years for the housing market place to work via the present shadow inventory.

As the shadow inventory of at-risk homes continues to swell, banks and solutions are faced with numerous challenges and need options to stop these pre-foreclosures from becoming foreclosed properties, mentioned Dale McPherson, President and Chief Executive Officer of Field Asset Solutions. With Avert, FAS can offer banks and servicers with the right information and tools to improve the loss mitigation process, lessen costs and build higher collateral intelligence properly in advance of a property becoming a foreclosure asset.

Avert gives a comprehensive and higher-quality suite of solutions to aid banks avoid foreclosures and associated expenditures, including the ability to: