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Default Management Recovery

VQN is a complete solution for managing all aspects associated with foreclosures, repossessions, owned assets and bankruptcies
 
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VQN features works well for your Legal counsel

VQN Default Management Recovery provides a repository for your bank to manage all foreclosures,repossessions and owned assets in one place. Every critical process is user defined by your bank and all exceptions to milestone activities are reported and brought to the attention of the appropriate specialist(s). With this one solution, all information relative to the foreclosure, repossession, or owned assets process are maintained and appropriate reports easily made available. Eliminate all the disconnected error prone Excel files people are using to track and report information by using VQN.

With Collections for Signature

Default Management Recovery you can

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Automatically Schedule Reminders for:

  • Real estate taxes next due
  • Listing expiration date
  • Deed recording date
  • Date sent to foreclosure
  • Foreclosure resolution date
  • Foreclosure sale date
  • Possession date
Track Critical Information

by Property Lien position, other Lien Holders, as well as Participants and percent of participation by property

  • Property values (book value, list price, and appraisal)
  • Insurance claims
  • Tenants and income produced by the property
  • Repairs and the expenses to maintain the property
  • Real estate agents associated with the property
  • Offers received on the property
  • Closing costs by property
  • Expenses on the property, including the option to automatically move expenses to the recovery module
  • All collateral out for repossession
  • Repossessions in inventory and their storage locations
  • The sale of repossessed collateral
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Produce Relevant

Out-of-the-Box Reports

Repossessions Pending

All items on the pending repossession list without a date repossessed

Repossessions Assigned

Items currently assigned to a repossession agent but not recovered

Repossessions on Hand

All items repossessed and awaiting auction/sale with the date repossessed, but without a sale date

Repossessions Main

All items repossessed where the date of the repossession (and the resulting sale date if it is selected) falls within a specific date range

Repossessions Sold

All items sold over a date range, whether or not they are being charged off

Pending Foreclosure

all properties with a date sent to foreclosure but no resolution on sale confirmation date

Foreclosures Completed

all properties that have completed the foreclosure process and have been sold (either to the bank or another party)

Property Details

Owned assets of the bank optionally selecting by the last property appraisal or the next tax due date. Options exist to report by last appraisal date and next tax due date

Expense by Category

Expenses including maintenance on the properties

Property Expenses

Expenses being paid on any owned assets over a period of time

Sales by Type

All sales by type of property (family, home, commercial building, multi-unit building, etc.)

Sales Cost

Expenses specific to closing/sale costs, separate the cost of ownership

Recovery from Sale

Actual vs. expected recovery; how much of the amount due on the account is being recovered from the sale

For Sales Inquiry

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Please contact us to find out more about our product offerings. We can provide a web based presentation to show you how our products can help you today!

UNI-SOURCE 2000, Inc
11040 Manchester Road, Suite 200
St. Louis, MO 63122

Copyright 2022 by Uni-Source 2000 Inc.