Conexxus Releases REO Optimizer Solution for Financial Institutions
LOUISVILLE, Ky., July 24 /PRNewswire/ — Conexxus, LLC developer of CONEXXUS compliance management software, introduced REO Optimizer, a combined service and software offering for the banking industry. The offering combines real estate development and banking expertise, as well as document gathering services using CONEXXUS patent-pending monitoring software. The combination provides critical property data – historically unavailable to banking professionals in an organized and expedited format – to accelerate decision making and facilitate the timely disposal of distressed development properties.
REO Optimizer offers tremendous, immediate value to financial institutions by identifying what critical documents are needed, and promptly gathering and organizing the necessary data. Further, the software also securely shares this critical data with both the bank and its potential buyers through the web.
“Our software’s unique monitoring capabilities continue to show incredible flexibility and value to our customers. We are extremely excited about this new cutting-edge offering, as it provides an immediate solution for a significant need in financial institutions nationwide. Currently, institutions are working manually with checklists, paper files, and spreadsheets, which simply isn’t practical with the volume of non-performing assets,” said Jeff Reibel, Conexxus Founder. “The residential property foreclosure issue has been well documented. Banks are now experiencing record increases in the nonperformance of development properties, requiring special expertise, knowledge and the gathering of unfamiliar documents. Deals simply do not happen without correct documentation and understanding by both parties, or if they do financial institutions are often leaving millions of dollars on the table. The magnitude of the issue is reflected in earning releases and the extreme increase in development loan non-accrual status.”
Mr. Reibel continued, “Our solution is packaged at the right time to meet an emerging market need and is unlike any other currently available. We worked hand-in-hand with national banks and developers, to ensure that the expectations of both banks and buyers have been met by REO Optimizer. We are pleased to offer a quick and easy solution to financial institutions plagued with distressed development properties, and to assist them with resolution and recovery during this current state of the economy.”
About Conexxus:
Conexxus, LLC develops, markets, and supports software and accompanying solutions offering increased visibility and decreased costs for clients. Conexxus provides unique, integrated solutions which monitor documents, sign-offs and processes for completion, or lack thereof, across an organization on a real-time basis. Conexxus now offers REO Optimizer to financial institutions with distressed development properties. More information about REO Optimizer can be found at http://conexxus.com/solutions/optimizer/index.html.
Conexxus’ customized offerings can be utilized throughout many areas of an organization, in any industry, teamed with an affordable price-point, elevating CONEXXUS as a unique data and compliance monitoring tool. Benefits of use include increased efficiencies and reduced operating costs while ensuring compliance with external regulations, as well as internal processes and procedures. Learn more about Conexxus solutions at http://www.conexxus.com/.
Source: Conexxus, LLC
CONTACT: Jeff Reibel, Founder & CEO, of Conexxus, LLC, +1-866-608-4321, jeff.reibel@conexxus.com
Web Site: http://www.conexxus.com/
