REO Management

REO Management

The ARCS Real Estate Owned (REO) module provides end-to-end support for managing REO/OREO assets. This streamlined management tool automates daily REO processes and reduces overall REO staffing needs.

REO Dashboard

The REO dashboard provides summarized portfolio history and status in a simple format, with drill-down access to case level alerts needing immediate attention.

REO Portfolio Dashboard - History

REO Summary - Alerts

Case Management

Quickly locate cases or individual assets using a variety of filter and search criteria.

REO Portfolio Dashboard

Expense and Income Management

Easily allocate expenses and income to individual assets. Invoices and management statements are presented in a simple workflow with built-in approval processes to ensure accurate allocation, coding, and capitalization.

Invoice Allocation

Reserve Analysis

ARCS REO tracks valuations and adjustments at the asset level and automatically calculates the surplus/shortfall. A reserve analysis can then be performed and a recommended action captured (charge-off/reserve). The final reserve analysis is then submitted for approval using a customized approval process.

REO Reserve Analysis

Offer Management

Purchase offers can be submitted, processed, and approved with extensive detail captured.

REO Offer

Reporting

Produce detailed reports for management and board presentations.

Closed REO Report

Other features include:

Case Creation

  • Servicing system integration for importing collateral information
  • Foreclosure/transition of collateral to REO cases, including support for split assets
  • Adding assets to existing REO cases
  • Preservation of asset valuation and NRV history
  • Recording of initial balances
  • Support for real estate and other non real property assets
  • Scalable to fit small or large portfolios
  • Supports participated / syndicated assets as well as government guarantees (e.g. SBA Loans)
  • Maintains a complete audit trail and history of entries

Case Management

  • Executive REO dashboard surfaces actions and assets requiring attention
  • Electronic REO case working file consolidates information throughout the entire lifecycle of REO assets
  • Tracking of redemption periods
  • Key balance tracking (including book balance, charge-offs, and reserves)
  • Store notes, pictures, and documents directly in the REO working file
  • Asset marketing plans
  • Support for large numbers of assets per case
  • Tracking and management of asset insurance
  • Full support for REO assets on the ARCS loan WatchList (classified/criticized loan list)
  • WatchList foreclosure forecast and asset sale dates
  • Trending and analytics
  • Key event alerts and notifications

Expense and Income Management

  • Expense and Income tracking at the case and asset level
  • Invoice capture and tracking
  • Invoice coding workflow
  • Expense accruals
  • Capitalized expenses, including approvals
  • Configurable fee types with G/L mapping information
  • Management of vendor insurance and W-9 records
  • Reconciliation processes and reports to keep G/L in sync
  • Integration with BankTEL and other Accounts Payable systems

Appraisal/Valuation Management

  • Appraisal requests and processing
  • Annual appraisal reminder
  • Multi-asset valuations
  • Supports valuation adjustments / liens
  • Impairment / valuation review
  • Asset write-downs (charge-offs) and reserves

Bid/Offer Management

  • Purchase offers and LOI’s
  • Listing agreements
  • Management of offer lifecycle, including counter offers and approvals
  • Offer analysis including net gain/loss
  • Detailed settlement expense tracking, including estimated and final amounts

Reporting

  • Regulatory / board reporting
  • Annual REO expense detail by property
  • REO/OA status report
  • REO Appraisal report
  • REO Insurance status report
  • Asset exception report
  • Monthly accounting roll-forward report
  • Trending / historical reports
  • Detailed case reports
  • Sold real estate reports

VSI Solutions