REO News

Jackson & Associates Launches Symphony, the First Platform Designed to Manage the Recovery of Occupied REO
IRVINE, CA %u2013 January 14, 2005 %u2013 Jackson & Associates, Inc., a provider of legal services and nationwide legal process management to the real-estate-owned (REO) industry, today announced the successful launch of its flagship Symphony platform for managing the recovery of occupied REO. Symphony is the first specialized solution designed to control the risk associated with occupied REO, and manages the legal and related processes involved in post-foreclosure property recovery.

%u201CThe risks incident to the recovery of occupied REO are quite different from vacant REO, both in terms of the frequency and severity of risk exposure. Identifying and controlling these risks is the key to minimizing loss,%u201D said Robert Jackson, President and Senior Managing Attorney. %u201CSymphony provides the REO industry with a platform that has been developed expressly to control risk and limit loss.%u201D

Managing property recovery means that Symphony does much more than track evictions: enterprise-level tools provide management insight into all REO legal process, including post-foreclosure bankruptcy matters, complex litigation, and evictions. A broker management module facilitates information transfer from assigned brokers, including regular vacancy checks. Robust support for ancillary recovery efforts enables management of cash-for-keys/cash-for-trash offers across the enterprise, including document distribution. Coordinated information flow is managed by Symphony%u2019s patent-pending %u2018query and answer%u2019 technology, making the entire property recovery process seamless and integrated.

Symphony is the first platform that does away with standard possession timelines, often a ubiquitous benchmark in managing occupied REO. A proprietary rich data model provides an innovative alternative, driving dynamic exception identification and real-time reporting control for all legal process. This new approach can deliver dramatic results: an aggregate time savings of as much as 30 days relative to standard possession timelines, reliable ratings of both attorney and broker performance, as well as uncommonly accurate estimates of time-to-completion.

%u201CInternal analytics found that the industry%u2019s current best practices for eviction tracking don%u2019t apply to the vast majority of actual post-foreclosure legal process,%u201D said Jackson. %u201CObviously, this makes it difficult to successfully manage the property recovery process or to identify and control any associated risks. Symphony implements a new set of standards %u2013 we think a better set of standards %u2013 that make the entire process far more transparent and far more efficient, for everyone involved.%u201D

Symphony is available to clients of Jackson & Associates who have executed a service agreement with the firm. More information about Symphony%u2019s features and capabilities is available online at http://www.jandalegal.com/symphony.

About Jackson & Associates
Jackson and Associates, Inc. is a professional law corporation with associated co-counsel in every State of the Union that focuses on providing post-foreclosure legal services and nationwide legal process management to clients in the REO industry. With over 10 years of experience representing REO departments and their specific legal needs, Jackson & Associates has managed over 40,000 REO matters nationwide and provides intelligent solutions to control risk and minimize loss severity for its clients. The firm can be found on the web at http://www.jandalegal.com.