TAMPA, Fla., Aug. 9, 2011 /PRNewswire/ -- PREO, LLC., developer of turnkey solutions for the liquidation of REO and pre-foreclosure inventory, announced today that it has partnered with Fairchild US, LLC, a leading provider of financial services and solutions to community and regional banks nationwide. Fairchild will roll out PREO's suite of loss mitigation products, beginning with PREO.com, to its growing list of banks nationwide.
"Fairchild has developed a network of trusted banking relationships by providing best-of-breed financial solutions for both sides of the balance sheet," said Eric Friedman, President of PREO. "This enables PREO to reach small to midsized institutions more rapidly, while maintaining a high level of customer service. We are excited to partner with Fairchild and look forward to helping their growing list of clients minimize lender and investor losses and speed the housing recovery."
"Our clients count on us to provide financial solutions relevant to today's economy," said Mark Kelley, Managing Partner & CEO for Fairchild. "PREO's loss mitigation solutions leverage the latest technology and promise to help our customers reduce their inventory of distressed properties. We are excited to offer PREO to all our banking customers."
PREO.com is a complete online marketplace for short sales, REO, and pre-foreclosure properties, offering clear and transparent processes, helpful tools, user-friendly interfaces, and quick turnarounds on homes. Learn more at http://www.PREO.com.
WHAT: A turnkey solution to liquidate REO and pre-foreclosure inventory
WHO: Bringing together lenders, buyers, homeowners, and real estate agents
WHY: Because short sales can be completed more quickly and easily
HOW: By simplifying/standardizing processes, and providing market clarity to pricing
About PREO, LLC.
PREO was created by real estate, foreclosure and bankruptcy attorney James E. Albertelli, Esq. to be the complete default marketplace. Over 15 years of representing lenders and servicers in judicial and non-judicial states, Mr. Albertelli obtained a wealth of knowledge about the shortcomings of the traditional methods of foreclosing and selling property. He sought to design a better way to increase the ROI or the NPV of cash received from the REO process and at the same time help the current defaulting homeowner to gain meaningful relief. Out of those concerns, PREO was born.
About Fairchild US, LLC.
Fairchild is a financial advisory firm serving a broad spectrum of clients including banks, municipalities, corporations, businesses and individuals. Fairchild builds rich client relationships by returning to the basic principles of sound financial management which addresses the following:
- Repositioning assets and liabilities and their allocations
- Restructuring balance sheets with both equity and debt
- Repackaging debt for better terms and conditions
Fairchild's goal is to analyze its client's financial picture, make recommendations and changes if needed and maximize efficiency by implementing a simple, risk-averse and measured plan. Today's challenging financial landscape needs a return to simple applications, simple and time-tested solutions without fanfare. Fairchild US is constantly surveying the market for financial products and solutions that will accomplish that common goal of returning to stability and profitability ... now and for the future. Learn more at http://www.fairchildus.com.
SOURCE PREO, LLC.