News

Green River Capital Introduces Short Sale Technology Platform GRFConnex

Wed October 30, 2013

WEST VALLEY CITY, Utah, Oct. 22, 2013Green River Capital, LLC (GRC), a provider of REO asset management and loss mitigation services for mortgage servicers, investment firms, and banking institutions announced that its sister company, short sale unit Green River Financial (GRF), has enhanced its technology offering, launching GRFConnex to ensure all clients remain compliant with new and forthcoming regulations.

“GRF has significantly improved our short sale and deed in lieu technology and processes to ensure that not only our organization, but also our clients are continually in compliance with increasing regulatory standards and investor-driven changes,” said Tim Reilly, senior vice president for GRC/GRF. “While our focus has been on the evolving GSE and FHA requirements as part of the National Servicing Alignment initiatives and on the January 2014 CFPB new servicing rules implementation date, we know our work does not end there. We will continue to monitor and adapt our technology and processes to ensure compliance with future changes that impact consumer contact and short sale processing.”

GRFConnex is a step-driven, template-based short sale and deed in lieu processing system. The nimble technology can be immediately adjusted to accommodate both industry-wide changes as well as a client’s unique business needs. It generates succinct pipeline management and dashboard reporting, allowing clients to track the progress of their loans each day based on specific requirements from regulators and investors in addition to their own internal policies.

Travis Justice, vice president of short sales for GRF added, “If an industry-wide change should occur that impacts short sale or deed in lieu processing, for instance, we can quickly make modifications within the GRFConnex template. This allows our clients to have complete confidence in our entire program – they are assured that GRF handles all regulatory monitoring and makes expedient updates to the system accordingly, so when it comes to compliance, controls and reporting they will not miss a step.”