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 Think of it this way: Why would you use a 10 iron to hit a 95 mph fastball, when you could just use a bat? When it comes to REO legal process management, people are still trying to develop a better 10 iron - that is, better timelines - rather than looking to develop a bat. One of the greatest myths in REO is that timelines are the best tool to manage eviction performance. Thus, everyone in REO chases a better timeline template in order to gain a competitive advantage. But, what if timelines aren't the best management tool? What if there was a "bat"? A recent study of around 10,000 REO evictions found that less than 15% actually behaved according to a timeline. This result means timelines of any kind - whether based on bad, good, or the best templates - were useless in predicting and managing a vast majority of the eviction files. The real issue, then, is to find metrics and a modeling process that can actually describe legal process (including evictions), and thus be used to accurately measure performance for a statistically relevant sample. For those interested in ditching their 10 irons, and in stepping up to a more capable and robust management system, contact J&A. We've developed a process management system based on cutting-edge analytics and metrics, all backed by a patent-pending mathematical model and the industry's largest REO eviction database - over 500,000 data points in size. |
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