REI Ink: A Lighthearted Look at REO Asset Management Modernization
From “Oregon Trail” to Operational Efficiency
By Mike Chew
Growing up, most of us can relate to the concept of the “awkward years” – the years when your body seems to grow faster than your sense of style. Braces, bad haircuts, short-lived fabs, and strange clothing choices come to mind. However, most don’t recognize such awkwardness when it is happening. Awareness usually occurs years later when you revisit those old school pictures, the ones that cause you to laugh, cry, or in extreme cases, toss those photos in the trash. While reflecting on the past is sometimes cringe-worthy, it does offer perspective.
For REO Asset Management companies that have been around through the years, revisiting the awkward past is a badge of honor. It means that the company has modernized to meet rapid changes affecting its institutional asset owners, vendors, realtors, savvy home buyers, and investors. So, what does the modern REO Asset Management company look like?