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By MRIS Compliance Department

MRIS, February 23, 2009-Did you know we recently made changes to Keystone and Matrix to help you enter and search for properties? There are many fields in Keystone that identify properties that are subject to a short sale or foreclosure. MRIS has made changes to Keystone that allows the listing agent to identify properties that are subject to a potential short sale.

“Subject to a Potential Short Sale” has been added to the Disclosure field and listing agents are required to enter this where applicable.

Also, the “Current Financing/Loan Information” pick list has the following property options: REO, Foreclosure, HUD Owned, and Pre-Foreclosure. For your business needs, we are aware that a short sale listing can have consequences impacting the contract.

For that reason, we also added another option; “Compensation on Net Sales price” within the Contract Info field. Although these fields aren’t standard on Matrix search forms, they can be easily added by using the “click here to add or remove search fields” link found on all Matrix search screens.

We believe these new options will help you create a better search and make use of meaningful data concerning short sales. For additional information, please visit our website at www.mris.com/compliance.

To send feedback on this article, email communications@mris.net.

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