I just receive this from REOTrans:LOS ANGELES, CA - October 5, 2009 - REOTrans announced today it will be changing its name to Equator. The reason for the name change is to facilitate the expansion of its technology solution. Since its inception in 2003, REOTrans has grown beyond REO automation to become the epicenter of the Default Servicing Industry. The name change is scheduled to take place at the end of Q4, 2009."The founding principles that have earned our client's trust will remain, the only thing changing is the name," said Chris Saitta, CEO of REOTrans. He went on to say, "Growth requires change, to enable our growth we're changing our name to Equator." The company chose the name to represent its scope and purpose. The Equator is comprehensive yet precise and a point of change. It's also rich in metaphor to help communicate and perpetuate the company's identity.REOTrans currently provides a comprehensive technology platform that automates and connects the Default Servicing industry. The platform includes a configurable workstation, vibrant marketplace, transactional web site and a borrower self-service portal. It automates everyone's daily process while connecting them and their disparate systems in a safe and transparent ecommerce environment.Currently 51 Mortgage Servicers, 15,000 Default Vendors and 625,000 Real Estate Agents use the platform to manage over 150,000 transactions daily. There has been over $65 billion in foreclosed real estate sold through the platform.For more information contact REOTrans at 310-469-9500 or email info@reotrans.com.
The change has not happened yet. It is still REO Trans. I do not think the name will change until closer to the end of the 4th quarter from the info I saw.
Comments
I think that REOTrans will manage the change well. I wish there had been some more notice, through. A Monday is a tough day to make such a big change.