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ONEDEMAND.COM INC. provides custom software and Web development to the REO industry, and its flagship product is Symphony, a Web-based solution to manage REO evictions and ancillary occupied REO legal issues. Designed and built by an attorney with nearly a decade in the REO eviction field, Symphony provides not only those features clients have come to expect – workflow automation, timeline control, document management, fee and cost controls, and electronic invoicing – but also a unique approach to risk management and legal compliance forged by its heritage. Symphony’s difference, however, is more than just its features; Symphony is different at its core.
Symphony’s core theory of management diverges from the cookie-cutter “timeline tracker” systems that dominate eviction management today. Symphony’s original genesis is a mathematical regression analysis of actual REO eviction data, which led to a discovery that evictions do not behave linearly as the “timeline tracker” systems require. In fact, the modeling showed that over 80% of all evictions ended up as exceptions in a linear system, negatively impacting both performance and cost of management.
In search of a better way, Symphony’s design was based on the production management theories of Charles Deming, who rose to prominence helping Toyota rebuild after the end of World War II. Symphony’s unique processes – having been honed and proven over thousands of evictions in its decade-long history – are subject to multiple patents pending, and help drive value to clients by better isolating true exceptions, better managing timelines, better controlling fees and costs, and by better managing the complex sources of legal risk that lurk in today’s REO eviction landscape.
REO evictions today are not what they were in the past. REO evictions today require the navigation of a complex, evolving and sometimes unclear set of legal standards. Potential exposure can come from any number of angles, be they legal (i.e. SCRA, “robo-signing,” MERS, produce-the-note, and other issues tied to origination, servicing and debt collection), political or media-based in nature. Symphony was born out of this new landscape, and out of the shortcomings its attorney-turned-developer identified while trying to use the various cookie-cutter “timeline tracker” systems.
For nearly a decade, Symphony and its predecessor have been paired with the legal management services of Robert J. Jackson and Associates Inc. – a law firm pioneer in the concept of “legal process management”. This arrangement continues the legal heritage that drives Symphony and its innovations, and provides servicers and financial institutions the unique ability to access specialty REO eviction management experience earned over two decades without having to train, hire or scale their own staff, while also accessing world-class reporting and business intelligence detailing their eviction portfolio from nearly every angle imaginable.
New laws. New risks. New reality. Occupied REO isn’t the same. It’s time for a solution that isn’t the same: Symphony.