FORT COLLINS, CO – 10/27/2017 (PRESS RELEASE JET) — Association Online (AO) has announced the availability of its new Association Account Risk ScoreSM service. Fort Collins-based ProHOAm, Inc. d/b/a Association Online provides title and loan servicing support to real estate transactions across the nation.
The Association Account Risk ScoreSM service provides an economically feasible solution for identifying the prevailing risk of homeowner and condominium association accounts in large loan portfolios. It identifies the risk inherent in a specific property for an escalating association balance, costly association collection process and possible association foreclosure proceedings.
The industry has lost millions of dollars due to such unknown liabilities – settling legal fees and outstanding account balances, remediating homeowner association foreclosure proceedings and sometimes experiencing the total loss of collateral due to unknown homeowner association activity. Until now, the cost and process of managing such risk has been impracticable.
AO’s Association Account Risk ScoreSM provides the lender/investor a feasible method of identifying risk and facilitating timely mitigation measures to achieve title security and minimize costs. “Many of our clients are managing tens to hundreds of thousands of properties in their portfolios. The Association Account Risk ScoreSM provides an effective method to rapidly and accurately prioritize properties at the greatest risk for financial and legal action,” offered CEO Mike Schwab. “It’s a roadmap for curative action in circumstances where timing is critical.”
Whether holding investment properties for the long-term, or REO properties through sale, AO clients rely on the quick identification of association-related risk – from the point of purchase or the origination of a mortgage. The Association Account Risk ScoreSM utilizes liability and risk data, including unknown foreclosure status through the exercise of statutory rights.
The Association Account Risk ScoreSM has been in beta testing for past the eighteen months, giving Association Online the opportunity to refine processes and algorithms. “Association Online has created an innovative solution to an overriding industry problem. Their models validly predict specified risk with outstanding reliability and confidence,” says Dr. James Lani, CEO of Intellectus Statistics.
AO, a recognized industry leader in information research and distribution, data management and the creation and improvement of process solutions to the housing industry, is nationally known for HOA Contact Reports, Municipal Lien Searches, HOA Estoppels and Closing Packages, HOA Account Status Reports and much more to assist the real estate, lending and investment community.
For more information or to request a complimentary report, contact Carol Bennis at (970) 672-2796 or [email protected]
About Association Online:
Established in 2005, Association Online is a wholly-owned subsidiary of ProHOAm, Inc. an 8(a) certified, Native-American-owned small business. The company serves the time-sensitive information needs of lenders, investors, mortgage servicers, property managers and helps the industry manage risk with an unsurpassed 99.6% rate of accuracy. ProHOAm, Inc. began business in 2005 with a new approach to HOA management. Over the years, the Company’s vision and business emphasis has changed. Association Online provides title and loan servicing support to real estate transactions across the nation. AO is an industry leader in information research and distribution, data management and the creation and improvement of housing industry process solutions.
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