Symphony processes its 5,000th legal matter a little more than a year after its initial release, and has saved REO servicers an estimated $4 million dollars in carry costs alone since its release.
Irvine, CA (PRWEB) March 1, 2006 –- Jackson & Associates, Inc., a leading provider of post-foreclosure legal expertise to the real estate owned (REO) industry, announced today that its flagship Symphony web application recently processed its 5,000th legal matter, a little more than a year after its initial release. Since that release, clients have saved an estimated $4 million dollars in carry costs due to Symphony's industry-leading performance.
"When you consider that Symphony is currently limited to the niche of REO evictions and related post-foreclosure legal processes, reaching the 5,000 case mark in about a year's time is a good indicator of just how capable Symphony is, and of how well-received it has been," said Robert Jackson, President and Senior Managing Attorney. "And, we are particularly pleased to have reached this milestone while maintaining a system uptime of over 99%, and with our users rating Symphony among the industry's best default-related technologies."
Symphony is based on a unique and patent-pending process model that trumps the standard eviction tracking capabilities found in most default systems, delivering a quantifiable and objective performance edge that is clearly evident after 5,000 cases. Assuming an average unpaid principal balance of $50,000, a monthly carry cost of 1.5%, and industry-standard eviction timelines, Symphony's performance edge has to date saved clients of Jackson and Associates an estimated $4 million dollars in carry costs alone. By dramatically reducing carry costs, Symphony can positively impact servicers' efforts to control their loss severity. "Our clients have come to rely on our expertise and unique focus to help control their loss severity and manage their legal risk, and Symphony's demonstrated ability to reduce processing timelines, increase productivity, and accurately model the legal processes involved in occupied REO is one way we are helping our clients meet that goal," said Jackson.
Jackson and Associates' Symphony platform for occupied REO management is available at no charge to clients of the firm, and includes such industry firsts as an integrated personal property module, an integrated "cash for keys" module, and a comprehensive, multi-dimensional attorney grading module.
About Jackson & Associates
Jackson and Associates, Inc. is a professional law corporation with associated co-counsel in every State of the Union, and focuses on providing post-foreclosure legal services and nationwide legal process management to clients in the REO industry. With over 12 years of experience representing a wide range of default servicers and REO management organizations, Jackson & Associates has helped its clients recover approximately 60,000 occupied assets nationwide. The firm is located on the web at: http://www.jandalegal.com.
About Symphony
Symphony is a web-based platform for occupied REO that goes beyond case management and offers more than the standard eviction tracking functionality found in most default systems. It provides event management, workflow automation, quality assurance, and auditing capabilities that uniquely leverage Jackson & Associates' extensive background in post-foreclosure law. Designed to work either independently of or in conjunction with existing default technology, clients who retain Jackson & Associates to manage their post-foreclosure legal matters nationwide are able to use Symphony to manage every aspect of occupied asset recovery -- starting from initial assignment all the way through to vacancy.
Symphony’s users recently rated it among the best technology in the default industry, and the platform is available to clients of Jackson & Associates who have executed a service agreement with the firm. More information about Symphony’s features and capabilities is available at http://www.jandalegal.com/symphony.
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