Five Brothers Introduces QuickData HUD P260 Bid Data Input Service

WARREN, Mich., April 27 /PRNewswire/ -- Warren, Michigan-based Five Brothers, a nationwide provider of commercial and residential mortgage default management solutions, today announced the release of its QuickData™ HUD P260 bid data input service. Joe Bada, CEO of Five Brothers, made the announcement.

The new QuickData service - available exclusively to users of Five Brothers Field Service Solutions - provides efficient data entry, including photo transfers, into the new HUD P260 Portal. Notification of completed data input is posted to the company's FiveOnline™ asset preservation workflow management system, which is web-based and accessible 24/7. Using the HUD P260 Portal, mortgage servicers simply accept and submit the pre-entered bid, saving time, preserving resources and eliminating workflow backup. Effective April 7, 2010, all HUD information must be submitted via the new HUD P260 Portal.

"QuickData is a simple solution that eases the strain on client resources resulting from the current uptrend in loan defaults," said Bada. "We saw a need from our customers to ensure compliance with HUD requirements, without sacrificing efficiency, so we took that opportunity to help by simplifying their workload. We remain committed to creating solutions that enable clients to be better prepared, more efficient and more effective as they respond to the challenges of a fast-changing mortgage industry."

Founded in 1967, Five Brothers partners with commercial and residential mortgage servicers nationwide to provide regulatory-compliant default management and mortgage technology solutions strategically aligned with each client's business needs and operating goals. Five Brothers offers a full range of field services, including property preservation, inspections, notary services, REO management, property valuation and a nationwide network of experienced customer and field service representatives. Advanced mortgage technology solutions include a complete document management and processing system (MARS™), state-of-the-art loss mitigation software (MOTZ™) and industry-leading high-speed scanning, loan-level indexing and automated workflow management (IntelliStorage™). For more information, visit www.fivebrms.com.

SOURCE Five Brothers



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