Exceleras, the creator of the DispoSolutions Real Estate Owned (REO), ValueSolutions Collateral Valuation and ClearView Offer Management platforms, has released a scheduled software update to its DispoSolutions REO software that has added a unique timeline view to its user interface, the company announced in a release.

The updated functionality will make it easier for users, including default servicers, asset managers and investors to streamline the disposition process, saving them time and money.

The new Timeline View page gives staff users a chronological view of any property in the system, including time in status, changes in status, key event dates, including the ability to effectively track off-market and hold timelines, Exceleras said.

Users can see at a glance where the property is in the process as well as review from the portfolio level, allowing them to pay closer attention to those that are lagging and costing the company more money.

“When people get busy, it's easy to forget that the clock is ticking for every property in the portfolio, not just the case that the user is working on,” Exceleras Chief Operating Officer Amy Bergseth said in the release. “When we released ClearView, we saw clear evidence that the disposition timeline could be significantly shortened, but only if the software users were aware of the opportunity. This new user interface update makes it easier than ever before to get all of the benefits we've built into DispoSolutions.”

ClearView is a real estate offer negotiation tool that works with DispoSolutions and is designed to allow a buyer's agent to submit an offer directly to the bank or servicer. While the search engine is a tool for investors, only licensed agents can make offers through the ClearView platform.

After tracking tens of thousands of REO transactions, Exceleras found that sellers using ClearView saw an increase in the average number of initial offers (not counters) per property of over 66 percent, resulting in 3 more offers per property, on average, the company said.

The Average Days on Market per property decreased by 9.33 days. Best of all, ClearView users saw an increase in the average Percentage of Sale Price to Initial Listing Price of more than 10 percent.

“Time is a thief that robs servicers and investors by increasing loss severity,” Exceleras CEO and President Michael Harris said. “We have tools that can shorten the REO disposition timeline and that saves money, but it only works if users get the most out of our software. This new update provides a powerful tool that makes it obvious how time is impacting our clients' businesses so they can use the other tools we've given them to do something about it.”