Partnership will provide technology to leading non-profit housing organization, putting national housing market on fast-track to recovery
FOR IMMEDIATE RELEASE
Boca Raton, Fla.
— Active Data Technologies Inc. will provide Counselor Direct with technology support and access to significantly-reduced real estate listings contained within bulk real estate portfolios, establishing a website portal that its network of non-profit organizations can access direct, and in real-time, to meet the immediate needs of aspiring homeowners.
The two like-minded companies today finalized the details of the strategic alliance, which will support nationwide neighborhood stabilization and revitalization missions.
Under the partnership, Counselor Direct will enhance its ability to stabilize neighborhoods faster with access to countless discounted housing opportunities that otherwise would not be available on the traditional market.
It's a forward-thinking collaboration that is in-line with the U.S. Department of Housing and Urban Development (HUD) vision, which recently called for creative methods to dispose of a significant amount of Real Estate-Owned (REO) inventory directly to private equity investors with the goal of neighborhood stabilization.
"We see a tremendous synergy between our two organizations," said Brad Geisen, CEO of Active Data Technologies Inc. "To get the American housing market back on its feet, we need to meet the needs of all future homeowners at all income levels. Many subsets of the housing market are well on their way to recovery; however, the housing needs of moderate- to low-income consumers are still far from being met."
Counselor Direct works directly with several state housing agencies in the hardest-hit states, as well as non-profit organizations that work directly with consumers who aspire to purchase homes in these areas. One of the challenges the non-profit organizations face is a lack of available inventory at affordable prices for these individuals. And while Neighborhood Stabilization Program (NSP) funds are often used to offset the costs of these homes, more can and must be done.
"Historically, CounselorDirect has demonstrated increased success with government programs that rely on non-profit organizations to act as the front lines," said Andy Firoved, CEO of Counselor Direct. "Simply adding automation, work flow and best practices through software technology, we are able to increase success considerably. We are optimistic that this new website portal partnership combined with our mutual resources will have a positive impact on stabilizing and revitalizing low- to moderate-income neighborhoods."
Active Data Technologies Inc. already provides the critical software solutions for the banking and servicing industry that is focused on the distressed asset arena, assisting numerous companies that utilize the various technologies — online offer management, online marketing loss mitigation and asset management, among others — it has developed.
However, it is Active Data Technologies Inc.'s ties to bulk REO inventories and portfolios, whether assembled by investors or provided directly from the source (banks), that is the key to this partnership.
One that will help set the wheels of recovery in motion.
"All of our recent advancements have been focused on providing real-time solutions for the distressed housing market," said Geisen. "We are extremely excited about the role technology is playing in every aspect of this phase of the real estate recovery cycle."
Geisen also revealed that several existing investor clients have expressed desire to place a percentage of their inventories on this platform the moment it is ready for rollout. In addition, the partnership will also involve many other peripheral industry players who provide "buy and repair" financing, general contractors, laborers and real estate professionals, among others.
For more information please visit www.ActiveDataTechnologies.com
About Active Data Technologies Inc.
Active Data Technologies Inc. is the pre-eminent technology leader in the online distressed real estate disposition/management marketplace, forging strong partnerships with major, mid-sized and minor financial institutions throughout the United States. We create custom Real Estate-Owned (REO) websites and provide a powerful around-the-clock marketing program to ensure maximum property exposure, engaging more than 6 million buyers and investors throughout the nation each month. We also develop easy-to-use backend offer management systems that servicers, lenders and other large real estate portfolio owners can seamlessly integrate into their websites to facilitate, manage and expedite the sale of REO inventory nationwide for top dollar. Headquartered in Boca Raton, Fla., Active Data Technologies Inc. powers several major real estate websites, including Foreclosure.com, QuickSale.com and HomePath.com, among others.
Based in Irvine, California, CounselorDirect is a software provider for HFAs (Home Finance Agencies), government agencies in financial sectors, non-profit counseling agencies, and foreclosure-prevention facilitators nationally. CounselorDirect-powered technology offers a best practice infrastructure and secure online portals that provide tools such as user intake, data analytics, financial services, and system generated reporting for U.S. Treasury. CounselorDirect plays an instrumental role in the direction and deployment of several federally funded and managed programs. Our core competency is understanding and defining workflow to ensure the efficient deployment of these programs, while building and powering the technology to support the programs. As a result, CounselorDirect is not only the leading provider of software solutions for the states' Hardest Hit Fund programs, but with the $7.6 billion federal dollars the government allocated to help provide mortgage assistance to struggling homeowners, CounselorDirect powered systems alone will facilitate saving homes of more than a million Americans that would have otherwise been displaced.
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