Professional Property Management | Miami | Fort Lauderdale | The Palm Beaches

Bank Services Overview

REO and Non-Performing Asset Management

REO asset management has evolved over the years and has become a proven vehicle for banks and mortgage companies to help stabilize internal staffing and operating expenses and increase file velocity while providing valuable pressure release on rapidly growing portfolios. From acquisition of new assignments through the entire REO process to the closing of successful sales transactions you can rely on EDGE Asset Management and the customized services we provide to make your job, and those of your staff, easier.

EDGE Asset Management’s REO Services program is designed to satisfy the needs of our broad range of clients, focusing on management and maintenance of REO properties, apartment buildings, office buildings & private homes. You can rest easy knowing that you no longer have the need to rely on multiple contractors to service your maintenance needs.

The current financial crisis is creating a huge body of residential properties falling into default and foreclosure. Government programs and regulations governing REO properties are changing daily, and new laws protecting the rights of renters have all placed increased risk on those entrusted with REO default management. This is why lending institutions, servicers, investment firms and insurance entities are turning to EDGE Asset Management to assist them in managing default and foreclosure activities. EDGE Asset Management is a full-service, default asset management company, offering customized and cost effective solutions to liquidate REO assets with mitigated risk.

EDGE Asset Management provides comprehensive management and marketing services as assistance in liquidating non-performing assets nationwide for national and regional banks and lenders. We offer a central management location on all tasks involved in the liquidation process, from file assignment through closing. As part of EDGE Asset Management’s service, strategic partnerships and affiliations have been formulated to guarantee national exposure on each individual property, as well as having an optional national lending partner for potential buyers. In addition, EDGE Asset Management aligns itself with preferred service partners through the mortgage default industry, including experienced and trained brokers and agents, national preservation vendors, closing firms, and attorney and title companies with diverse operational teams.

 

REO Liquidation Management Process

Our liquidation process is designed to enhance your ability to manage the REO disposition process through EDGE Asset Management with the highest level of quality, service and performance. EDGE Asset Management recognizes and clearly understands the importance of providing results that meet and exceed the demands of our clients, the current market and economic conditions.

Our liquidation process is used to assist clients in streamlining their default and REO processes and to provide a framework for managing the REO asset management outsourcing relationship. The REO liquidations process includes plans for client on-boarding and process integration, training, service delivery standards, account management, performance review, security and continuous improvement methods. Defining these activities is essential for the success of both parties, and executing the process ensures that EDGE Asset Management and the client are prepared and can scale operations quickly, which leads to outstanding performance and minimizes risk.

 

Property Evaluation

EDGE Asset Management provides property evaluation services in support of clients at various stages of the default management and REO liquidation process, including prior to the property becoming REO.

 

Property Preservation

EDGE Asset Management has high quality service providers to support your needs anywhere in the country. EDGE Asset Management REO asset managers administer the maintenance and repair of our clients’ REO properties including obtaining approval on all repairs and budgets, obtaining bids, review and analysis of bids, selection of vendors and oversight of the property preservation tasks.

 

REO Maintenance and Property Management Services

  • Boarding (windows & doors)
  • Carpentry
  • Cash for Keys
  • Debris Removal
  • Demolition
  • Winterization/De-Winterization
  • Drive-By Inspections
  • Electrical Work
  • Fire Damage Repairs
  • Flooding Pumps
  • Handyman Services
  • Interior Cleaning
  • Lawn Maintenance
  • Lock Changes
  • Lock Re-keying
  • Lock Box Installation/Coding
  • On-Going Maintenance
  • Major & Minor Repairs
  • Mold Remediation
  • Oil Tank Removal
  • Plumbing Repairs
  • Pool Maintenance
  • Rehabs
  • Roofing
  • She/Deck Removal
  • Stolen & Abandoned Car Removal
  • Trash & Cleanouts
  • Water Damage Repairs

 

REO Property Inspection Services

  • Initial
  • Weekly/Bi-Weekly
  • Pre-Foreclosure
  • Foreclosure
  • Pre-Conveyance
  • Conveyance
  • Construction Draw
  • Occupancy Status
  • Verification / Vacant Property
  • Sale Date
  • Habitability
  • Vandalism / Property Damage
  • Insurance Loss
  • Violations and Summons

 

Mortgage Field/Property Preservation Services

  • Evictions & Moving Services
  • Board-Ups to FHA/VA and Conventional Specifications
  • Re-Secures to FHA/VA and Conventional Specifications
  • Lock-Changes, Lock-Outs, Padlocking
  • Re-Keying to all Key Codes
  • Cash for Keys with Inspection of Property
  • Lock Boxes Installed and Coded to your Specifications
  • Clean-Outs, Trash-Outs and Debris Removal Services
  • Winterizations, De-Winterizations
  • Lawn Maintenance/Grass Cuts-Bi-Weekly and Weekly
  • Tree Removal Services/Trees Services
  • Flooded Basements Pumped Out
  • Hazardous Pools Demolished
  • Hazardous Pools Pumped Out and Secured to FHA/VA and Conventional Specifications
  • Demolishing/Removal of Hazardous Houses, Homes, Garages and Sheds
  • Stolen and Abandoned Cars Removed
  • Roofs Tarped, Repaired or Replaced
  • Complete Repair Services, Inspections and Reports for FHA/HUD, VA and Conventional
  • Repair Services from Violations and Summonses’ of Municipalities
  • Insurance Work from Vandalism

 

REO Property Management

  • Perform Eviction Assistance for all Banks, Mortgage Companies, and Law Enforcement
  • Perform Property Condition Inspection and Report per Client’s Request
  • Perform Complete Securing of the Property. This Includes Board-Up and Lock-Out Services to all Specifications.
  • Perform Complete Clean-Out, Trash-Out/Debris Removal Services to all Specifications.
  • Janitorial Services to all Specifications.
  • Winterization of Property to all Specifications.
  • Perform and Conduct Initial and Long Term, Lawn and Landscaping Maintenance Services.
  • Perform and Conduct Security Check Inspections Weekly or Bi-Weekly
  • Provide Complete Detailed, Itemized Reports and Photos of Changes in Property Conditions.
  • Abate and Remove all Hazards and Code Violations from Inspectors of Municipalities.
  • Manage and Maintain all Maintenance and Service Repairs Accordingly to the Client’s Request.
  • Manage and Maintain Relationship with all Real Estate Owned Offices and Representatives.
  • Managing Properties of Your Acquisition/Inventory

 

REO Property Maintenance

  • Evictions & Moving Services / Eviction Assistance
  • Board-Ups to FHA/VA and Conventional Specs
  • Re-Secures to FHA/VA and Conventional Specs
  • Lock-Changes, Lock-Outs, Padlocking
  • Re-Keying to all Key Codes
  • Cash for Keys with Inspection of Property
  • Lock Boxes Installed and Coded to your Specs
  • Clean-Outs, Trash-Outs and Debris Removal
  • Winterizations, De-Winterizations
  • Lawn Maintenance/Grass Cuts Weekly/Bi-Weekly
  • Tree Removal Services/Trees Services
  • Flooded Basements Pumped Out
  • Hazardous Pools Demolished
  • Hazardous Pools Pumped Out and Secured to FHA/VA and Conventional Specifications
  • Demolishing/Removal of Hazardous Houses, Homes, Garages and Sheds
  • Stolen and Abandoned Cars Removed
  • Roofs Tarped, Repaired or Replaced
  • Repair Services to Address Violations and Summonses’ of Municipalities
  • Insurance Work from Vandalism

 

Property Maintenance Services

  • Debris Removal Services of Estates, Attics, Basements and Yards
  • Lawn Maintenance/Grass Cuts-Bi-Weekly and Weekly
  • Tree Removal Services/Trees Services
  • Complete Repairs/Renovations and Re-Hab for the Real Estate Industry
  • Complete Handyman Home Service Repairs
  • Repair Services from Violations and Summonses’ of Municipalities
  • Gutters and Leaders Cleaned, Flushed, Repaired or Replaced
  • Flooded Basements Pumped Out
  • Hazardous Pools Demolished
  • Demolishing/Removal of Hazardous Houses, Homes, Garages and Sheds
  • Roofs Tarped, Repaired or Replaced

 

Handyman Services

  • Debris Removal Services to Estates, Attics, Basements and Yards
  • Demolition of Wood and Metal Sheds
  • Roofs Repaired or Replaced
  • Gutters and Leaders Cleaned, Flushed, Repaired or Replaced
  • Lawn Maintenance-Grass/ Lawn Mowed
  • Decks/Decking Repaired
  • Decks/Decking Waterproofed
  • Carpentry Repairs
  • Plumbing Repairs to Leaky Pipes and Faucets
  • Masonry Repairs of Sidewalks and Steps
  • Ceramic Tiles Repaired, Replaced or Re-Grouted
  • Painting – Interior and Exterior
  • Plaster Walls and Ceilings Repaired
  • Drywall (Sheet Rocking) Repaired and Replaced
  • Wallpaper Hanging and Removal
  • Lighting Fixtures/Ceiling Fans Repaired or Replaced
  • Minor Electrical/Replace Outlets & Light Switches
  • Ceiling Tiles Repaired or Replaced
  • Install Vanities, Toilets & Medicine Cabinets
  • Doors Repaired / Stuck Doors, Rubbing and Adjust Frames
  • Doors Replaced/ Interior and Exterior
  • Windows / Replace Sash Chains & Rope Guides
  • Replace Door Locks and Hardware
  • Kitchen and Bath Cabinetry Repaired
  • Assembling Wall Units, Shelving, Computer Desks
  • Installation of Smoke/Carbon Monoxide Detectors
  • Installation of Mini Blinds and Shades
  • Installation of Hardware to Cabinetry
  • Odd Jobs and Punch List Items

 

Home Improvements

  • Custom Installations of Woodworking, Cabinetry, Vanities & Countertops
  • Installation of Carpeting and Vinyl Tile Flooring
  • Installation of Vinyl Siding
  • Installation of Vinyl Replacement Windows
  • Roofs Repaired or Replaced
  • Gutters and Leaders Cleaned, Flushed, Repaired or Replaced
  • Decks / Decking Replaced, Repaired and Waterproofed
  • Masonry Sidewalks Repaired or Replaced
  • Carpentry Repairs
  • Plumbing/Heating Repairs
  • Painting – Interior and Exterior
  • Ceramic Tiles Repaired, Replaced or Re-Grouted
  • Plaster Walls and Ceilings Repaired
  • Wallpaper Hanging and Removal
  • Drywall (Sheet Rocking) Repaired and Replaced
  • Lighting Fixtures/Ceiling Fans Repaired or Replaced
  • Ceiling Tiles Repaired or Replaced
  • Installation of Vanities and Toilets
  • Doors Repaired or Replaced
  • Kitchen and Bath Cabinetry Repaired