Five Brothers' commitment to servicing REO properties is second to none.  Our REO department provides an all-inclusive approach to managing REO properties.  The department is comprised of Vendor Management Specialists and Broker Specialist Teams, professionals who focus strictly on communications with vendors, brokers, and agents.  These specialists work together and in conjunction with Real Estate professionals, vendors, title companies, law enforcement, and attorneys, to ensure that the REO process is managed efficiently and in compliance with regulations, the law, and your requirements.  Our primary objective is to facilitate the extensive coordination involved in obtaining, securing, maintaining, marketing of, negotiating, and closing on an asset.

Five Brothers' integrated approach to REO Management is designed to minimize losses and maximize returns.  Placing the accountability with Five Brothers ensures that your properties benefit from our 40 years of experience in the industry and allows your staff to focus on other areas of servicing.

Benefits of using Five Brothers' REO Services include:  

• Real Comp REO Services website, which provides access to the status of any order 24/7
• Nationwide network of REO Professionals
• REO Evaluation Specialists
• Full range of Field Services
• Loss Mitigation Software
• Fixed fee approach for property preservation costs
• Single point of contact and accountability
• REO Analyzer - maximizes sale price, minimizes holding time
• Completely paperless, online system, including electronic offer submission on the internet
• "Cradle to grave management"

Five Brothers' REO Solution

• Property Preservation
• Inspections
• Valuation Services - Appraisals and BPOs
• Securing and Re-Keying
  

Legal Management

• Service Notice of Foreclosure
• Cash for Deeds
• Cash for Keys
• Eviction Coordination
• Property Management
• Utility, Property Tax, and Insurance Payments
  

Marketing

• Market Analysis and Photos
• Marketing Strategies
• REO Analyzer
• Monthly Marketing Reports
• Realtor Monitoring
  

Closing

• Title Procurement and Resolution
• Contract Review
• HUD-1 Review and Approval
• Loan Closing Service
• Escrow/Closing Coordination
  

Reporting

• Completely Paperless Online System
• Daily, Weekly, and Monthly Management Reports
• Performance Reports
• Customized Reports

REO Foreclosure Services

Complimentary Loss Mitigation Software

• Mortgagee Notification of Loss Mitigation
• Mortgager Help Awareness Program
• Interview (Personal and Financial)
• Insuring Agency Rule-based Analysis
• Alternative to Foreclosure Solutions
• Loan Modification Tools
• Amortization Statement

Foreclosure Services

• Attorney Foreclosure Tracking Software
• Skip Tracing Services
• Foreclosure Posting Service

REO Possession Management

Five Brothers will coordinate and facilitate Cash-for-Keys and evictions in accordance with local law and your instructions.  Once the asset has been secured, Five Brothers will facilitate utility, property tax, and insurance payments.

• Cash-for- Keys - We will meet with parties in possession of a property in an attempt to negotiate cash for keys settlements, according to your directions, to try to avoid additional eviction costs and marketing time delays.
• Eviction - We will attend the eviction and, following your explicit instructions, will secure and stabilize the asset; we will provide photographs of the completed services.

REO QC Inspections

At Five Brothers, we offer a full-service approach to REO Management, specifically tailored to meet the needs of each individual client.  Our inspections provide critical information throughout the REO cycle, from foreclosure to sale.  Inspections enable us to document any and all problems, from high grass to hazardous conditions, to reduce potential liability for your company.  Our website, FiveOnline.com, allows you to access real time status of any property 24-7.

Five Brothers generates fully customizable reports on FiveOnline.com.  Once we receive property information, our Processing Department enters the data into our system and our QC Department verifies the information by following our strict QC guidelines.  Completed reports are available on FiveOnline.com; we can also e-mail/fax/mail copies of reports at your request.

QC REO Inspection Forms

Five Brothers' QC REO Exterior and Interior Inspection forms are specifically designed to provide current and relevant information about REO Properties.  The inspection forms indicate critical items you need to be made aware of so you know which properties need immediate attention.  Scores are carefully determined and assigned to each REO property.  These scores allow you to make quick, informed decisions in order to save you valuable time when dealing with REO properties.

Routine inspections indicate items necessary to bring a property up to decent, safe, sanitary condition.  Above and beyond the items indicated in the routine inspection, the QC REO Inspections denote items recommended to bring a property to saleable condition.  This information enables you to evaluate the time and cost required to make your REO properties as marketable as possible.

REO Asset Valuation

Five Brothers goes to great lengths to provide the most detailed and relevant appraisals for your REO properties.  We chose agents who are reputable and who have proven their ability to provide accurate, professional, and timely valuations.  Five Brothers' internal quality control system analyzes agents across the country and rates them according to quality and return times to ensure valuations are completed completely and efficiently.

Our appraisals are designed to assist you in quality control, asset disposition, and marketing strategies.  Valuations include property condition, photos, for sale comparables, sold comparables, repair recommendations, an "As Is" value and an "As Repaired" value.  Five Brothers monitors the neighborhood throughout the REO cycle and provide monthly evaluations of similar sold properties.  We offer Analysis and Recommendations for achieving the highest and best return.

Broker Price Opinions

• Standard Exterior BPO - valuation based on exterior inspection, which includes comparable real estate values, sold comparables, probable sale price, 90-day quick-sale price, "As Is" and "As Repaired" values, and photos.
• Standard Interior BPO - valuation based on exterior and interior inspection, which includes comparable real estate values, sold comparables, probable sale price, 90-day quick-sale price, "As Is" and "As Repaired" values, and photos.

Appraisals

• Exterior Appraisal - valuation based on an exterior inspection, comparable real estate values, and neighborhood condition; completed by a licensed real estate appraiser.
• Full Interior Appraisal - valuation based on an exterior and interior inspection, comparable real estate values, and neighborhood condition; completed by a licensed real estate appraiser.

REO Pre-Marketing Services

• Evaluation of collateral subsequent to acquisition
• Property and neighborhood marketability evaluation
• Highest and best return analysis

REO Marketing Services

Five Brothers' priority is to attain the highest possible return in the shortest possible time frame.  As soon as we obtain enough information about the property, we start working on an effective marketing strategy.  Once you allow us to list the property, we put that strategy into effect and begin an aggressive marketing campaign.  Five Brothers provides the following marketing services:

• Online marketing through multiple websites
• Place newspaper adds on a weekly basis
• Attend open houses and evaluate effectiveness
• Design and distribute property brochures
• Send property information via e-mail to investors

REO Property Maintenance Services

Inspections

• Foreclosure Inspection
• Occupancy Inspection
• Loss Draft Inspection
• Rush Inspection
• Reverse Mortgage Inspection
• Drive-By Inspection
• Interior Inspection
• Monthly/Weekly Inspection
• FNMA Form 30 Inspection
• Damage Inspection

Property Preservation

• Securing
• Boarding
• Lawn Maintenance
• Winterization
• Debris Removal
• Snow Removal
• Convey Maintenance
• Rehab

Automated Services

• Auto Winterization during winterization season
• Grass Cuts
• Auto Securing
• Auto Resecure when a previously secured property is found open to trespass

REO Closing Services

Five Brothers will coordinate the closing process once an offer has been accepted. Our experienced closing coordinators will review the contract to make sure it is complete and free of errors.  We will obtain all of the necessary signatures.  We will assemble the proper parties, including your attorney or one we obtain from an appropriate law firm, and employ the services of a title company.  Five Brothers has the ability to certify closing documents, attend the closing, collect and distribute funds, and distribute closing information, all according to your requests.

Closing & Title Services

• Resolution of Title impediments prior to closing
• Curative Title Clearing
• Management of closing functions, inclusive of HUD-1 review and approval
• Loan Closing Service
• Title Search, Title Recording, and Document Retrieval