Jackson and Associates Announces Campaign to Change REO

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Campaign features the website http://www.ChangeREO.com, which challenges common REO myths, and aims to foster new ideas and new thinking which can better control loss severity.

foreclosure legal expertise to the real estate owned (REO) industry, today announced the launch of its Campaign to Change REO. Central to this campaign is the website http://www.ChangeREO.com, which seeks to educate the REO industry about many of its most common myths, and about how new ideas and new thinking can help break those myths down and lead to practices which better control loss severity.

"The REO industry is a dynamic industry focused on results, so much so that sometimes the industry doesn't have the time to really examine itself," says Robert Jackson, President and Senior Managing Attorney at the firm. "The idea behind the Campaign to Change REO is to take a step back for a moment, have some fun while objectively evaluating some of the assumptions underpinning much of the industry's business practices and process models, and to challenge existing paradigms in a way that ultimately helps REO operations in their continuous quest to lessen loss severity."

Exemplifying the Campaign's myth-busting attitude, a white paper available at http://www.ChangeREO.com challenges the common notion that a warm body combined with the right timeline template constitutes a best practice in managing REO legal process. Internal analytics – based on a significant sample size of around 10,000 evictions - found that less than 15% of evictions actually fit a timeline. This finding means the vast majority of evictions are actually going unmanaged in a traditional timeline-based system, highlights the inefficiency caused by traditional reliance on timeline templates, and sounds the bell for the development of an alternative approach.

For its part, Jackson & Associates features Symphony, its patent-pending web application designed and developed to manage occupied REO using an identified alternative to the traditional – and demonstrably ineffective - timeline-based approach. This new approach can deliver dramatic results: an aggregate time savings of as much as 30 days relative to standard possession timelines, reliable ratings of both attorney and broker performance, as well as uncommonly accurate estimates of time-to-completion.

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 more than 52,000 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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