Hubzu Launches New Mobile App

Rhea-AI Summary

Hubzu, a top online real estate marketing platform, has launched a new mobile app for residential buyers. This app enhances access to Hubzu's features, enabling users to bid on homes, including retail and foreclosures, from their mobile devices. The platform has successfully facilitated over 225,000 home sales and 4.5 million bids since 2009. The app will soon introduce proxy bidding and integrates with Hubzu’s foreclosure app. This innovation reflects Hubzu's commitment to leveraging technology to improve property investment processes.

Positive

• Launch of a new mobile app enhances user access to Hubzu's services.
• The app includes features for bidding on various residential properties.
• Hubzu has facilitated over 225,000 home sales since its inception.

Negative

• None.

Real estate marketing and auction platform provides best-in-class technology to benefit both buyers and sellers

LUXEMBOURG, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Hubzu, a leading online real estate marketing platform, today announced it launched a new best-in-class mobile app that will give residential real estate buyers on-the-go access to the power and functionality of the Hubzu platform. With this new app, Hubzu now provides even more tools for buyers to find, research and bid on homes in a competitive auction format for all types of residential real estate, including retail, short sales, foreclosures and REO.

The Hubzu^® online platform is an end-to-end asset management and disposition solution for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions. Hubzu simplifies the purchase and sales process for buyers, sellers and brokers of foreclosure and other properties with transparent bidding and streamlined transaction support. Supported by a strong focus on customer feedback, data and analytics, Hubzu has facilitated the sale of over 225,000 homes nationwide with over 4.5 million bids placed since 2009.

Available for IOS and Android, the new easy-to-use mobile app is designed to help make real estate investing through Hubzu even simpler. Experienced and new buyers can grow their portfolios anytime and anywhere right from their phones. They can discover unique properties, bid on online auctions and stay updated with real-time alerts. Property listings include key details, photos, auction dates, bid prices, estimated rental rates and more.

By the end of the year, the mobile app will also include proxy bidding capabilities to make it easier for buyers to acquire homes at foreclosure sales from anywhere in the world. It will also pair directly with the new Hubzu foreclosure app available in October that will provide fully integrated search, research and bidding capabilities for live on-site foreclosure sales.

“Our app is a must-have for real estate investors,” said Michael Jansta, General Manager of Hubzu. “It’s the ultimate mobile tool for helping buyers increase their portfolios by leveraging data and technology to discover, research and acquire properties. It’s reflective of our commitment to invest in technology and continuously improve the Hubzu marketplace.”

About Hubzu^®

Hubzu is a leading online real estate marketing platform. Since 2009, Hubzu has facilitated the sale of over 225,000 homes in the United States and Puerto Rico via its transparent online marketing and auction process. Licensed agents and brokers use the Hubzu platform to market and facilitate the auction of properties for their clients. Home buyers benefit from Hubzu’s search tools and automated and transparent bidding process to find and purchase new homes. Hubzu is part of the Altisource^® Portfolio Solutions S.A. family of businesses. Additional information is available at Hubzu.com, Facebook and LinkedIn.

About Altisource^®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets it serves. Additional information is available at Altisource.com.

Source: Altisource Portfolio Solutions S.A.

Investor Contact: Michelle D. Esterman Chief Financial Officer 770-612-7007 Michelle.Esterman@altisource.com

Press Contact: Kevin Hosey Senior Manager, Marketing 770-612-7007 Kevin.Hosey@altisource.com

FAQ

What is the purpose of Hubzu's new mobile app launched in 2020?

The app provides on-the-go access for residential buyers to bid on homes, enhancing the property investment experience.

How many homes has Hubzu sold since its establishment?

Hubzu has facilitated the sale of over 225,000 homes since 2009.

What features are available on the Hubzu mobile app?

The app allows users to discover properties, bid in auctions, and receive real-time alerts about listings.

When will proxy bidding capabilities be available in the Hubzu app?

Proxy bidding capabilities are expected to be included by the end of the year.

What types of properties can be bid on through the Hubzu platform?

Users can bid on retail properties, short sales, foreclosures, and REO properties.