Re: Best REO Software & File Storage
We use a simple filing system to keep track of all REO properties. We start with something like this on a shared drive z:\property files\2008\48124\Ash 3257. We create a new main folder for each year which is filled with sub folders for each zip code. We then create a new subfolder within the zip code folder for each new property as we get new assignments. The subject property folders each contain 12 subfolders for Bids, Billing, Checklists, Comps, Data, Docs, OSR, Pictures, Scanned Docs, Taxes, Valuation Reports, Violations & Demo, and Water Bills. Each person on the team files all necessary documents and photos as they come in so everyone can access them as needed.
Also, to keep track of the properties, we use ACT! with the REO Database Module, the Quicklink add on for Quickbooks, and Quickbooks to track every thing from the initial OSR, all maintenance, BPOs and MSRs, pending file tracking, billing, everything. We track upwards for 600 REOs with 10 users on this system. ACT! merges seemlessly with MS Outlook and MS Office which is cool. The ACT! database is also loaded onto a shared drive to everyone on the support staff has realtime access. When the phone rings, we can lookup and answer any question about any file in less than 5 seconds.
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