August 2021 – REI INK

LRES Acquires Keystone Asset Management

by admin
Comment Off
496 views

LRES Corporation, a diversified REO/Asset Management and Valuations company, announced that it has signed a definitive agreement to acquire Keystone Asset Management, Inc., a Pennsylvania corporation. The deal is expected to be completed September 1, 2021, and the joined companies will operate under the LRES Corporation name. “Keystone has been a well-known and respected player in the REO/Asset Management business as well as the appraisal and valuation businesses for over twenty years. We know the management team well and have admired their growth, innovation, and resiliency. It was an easy decision to join forces,” said Roger Beane, CEO of LRES. “Roger and I have talked for a long time about finding a way to align forces,” said Jane Hennessy, founder of Keystone. “We are delighted that this acquisition has occurred. LRES brings an additional layer of Tier One delivery capabilities. It is an exciting time for our team.” Ryan Hennessy, Chief Executive Officer of Keystone adds, “Having known the LRES team for many years, I’m extremely excited. The two companies have a lot in common, have had a great working relationship over the years, and present a formidable solution to the REO and valuation ecosystems.” The acquisition of Keystone complements LRES’ continued drive to expand its servicing solutions channel and the customers it serves. “Keystone brings with it tremendous talent and technology capabilities,” said Mark Johnson, President of LRES. “An exciting byproduct of this union is that we now have a talented team located in the Eastern time zone.” About LRES Founded in 2001, LRES Corporation provides property valuations, REO asset management, HOA, and commercial trustee solutions for the mortgage and real estate industry. At LRES, “We Hear You.” Our team is committed to delivering superior service and customized, real-world solutions that help our clients effectively manage compliance and financial risks associated with property valuation and mortgage-related assets and drive profitability. For the latest LRES information, visit the LRES Newsroom at www.lres.com/category/articles/

by admin
Comment Off
622 views

Lenders will benefit from reduced cycle times and increased efficiencies on the path to close with EXOS CD ServiceLink’s best-in-class EXOS Technologies is strengthening its Closing offerings with the rollout of EXOS Closing Disclosure (CD). With EXOS no-touch CD, ServiceLink lender partners will benefit from increased efficiencies on the path to close as it digitizes and automates every step of the closing disclosure process – including revisions – for faster origination. EXOS CD is now incorporated into ServiceLink’s workflows, which are powered by EXOS Title, the industry’s longest standing and most-trusted digital title product. EXOS Title provides lenders with an instant title decision and clear-to-close commitment within seconds using localized machine learning rules and logic, natural language processing and optical character recognition (OCR) technology. This automation allows for a more streamlined title production process, now made more efficient with EXOS CD. With EXOS CD incorporated, additional “stare and compare” manual processes in the loan closing lifecycle have been automated, reducing the time and effort required for data preparation and ultimately, reducing cycle times and improving quality. Moreover, any revisions that may be needed throughout the closing process can now be processed virtually, with the ability to CD prep within a minute with appropriate workflows. “We are committed to challenging the status quo in the mortgage landscape by thinking of smart solutions that not only benefit the lender and their bottom line, but improve the borrower experience in the process. EXOS CD is an extension of that commitment,” said Dave Steinmetz, president of origination services at ServiceLink. “Our partners leveraging EXOS CD have reported improved accuracy, reduced cycle times and have enjoyed the ability to schedule their closings immediately after receiving clear-to-close commitments. We’re proud to bring these efficiencies to our partners, particularly during this high-volume period.” To learn more about EXOS CD and its benefits, visit svclnk.com/exos/closing-disclosure/.

by admin
Comment Off
1,416 views

TurboTenant’s Rental Market Data Center aims to give visibility into trends within an industry that has been historically difficult to analyze. TurboTenant, the industry-leading online platform for renters and landlords, has launched a new Rental Market Data Center which houses a variety of data aiming to give visibility and trend reporting into a historically hard to analyze industry. TurboTenant is also partnering with the NYU Furman Center to help further research around rental housing trends and challenges. “Our research collaboration with TurboTenant offers a unique opportunity to gain insight into the decision-making processes of landlords and renters, and to better understand how the rental housing market has adapted to the economic crisis,” said Daniel Waldinger, Assistant Professor of Economics at NYU and Principal Investigator on the project. TurboTenant has helped over 350,000 landlords manage their rental properties and has direct access to top rental market indicators. The data center features average rent and deposit pricing, median days on market, and inventory and demand metrics. Additionally, survey data compiled over the last year related to the impact of COVID-19 on landlords and renters is highlighted, with rent payment and financial trends leading that narrative. “We believe a great home can make a life-changing difference in a renter’s life,” said Sarnen Steinbarth, TurboTenant’s Chief Executive Officer. “Our goal with this collaboration and our Rental Market Data Center is to help uncover opportunities to better serve and empower independent landlords as well as renters.” TurboTenant leads the independent landlord industry in cutting-edge software aimed at assisting landlords and renters across the United States with marketing syndication, online applications, tenant screening, lead management, rent payments, communication and more. About TurboTenantMore than 350,000 landlords across the U.S. turn to TurboTenant for free, online solutions for landlording. Features offered by TurboTenant include online rental applications, tenant credit and background reports, property marketing, and online rent payments. Sign up at www.turbotenant.com. About the NYU Furman CenterThe NYU Furman Center advances research and debate on housing, neighborhoods, and urban policy. Established in 1995, it is a joint center of the New York University School of Law and the Wagner Graduate School of Public Service. More information can be found at furmancenter.org and @FurmanCenterNYU.

American Homes 4 Rent Pays Tribute to Founder, B. Wayne Hughes

by admin
Comment Off
606 views

American Homes 4 Rent issued the following statement regarding the passing of the Company’s founder and former Chairman of the Board of Trustees, B. Wayne Hughes: The entire American Homes 4 Rent community extends our deepest condolences to Wayne’s family and loved ones. Wayne’s accomplishments made him an iconic and visionary leader in the real estate industry. Over his long and successful career, Wayne created several groundbreaking ventures, including pioneering two important and thriving real estate sectors – self-storage with the founding of Public Storage (NYSE: PSA), the largest self-storage company in the world, and single-family rental (SFR) homes. He and his family also founded American Commercial Equities, a real estate management company with retail and office properties across California and Hawaii. American Homes 4 Rent was founded in 2011 through Wayne’s vision of offering families across the United States more desirable and affordable housing choices. That vision revolutionized the homebuilding industry and his legacy now extends far beyond our company, as evidenced by the ever-growing multibillion-dollar SFR industry. While Wayne distinguished himself over the course of 60 years as a real estate legend, he will also be remembered by those who knew him as a beloved family man and generous philanthropist. Wayne never overlooked the importance of his family, colleagues and community. He earned a B.A. in Business from the University of Southern California and was a devoted Trojan throughout his life. He served on the university’s Board of Trustees and received an honorary Doctor of Business Administration degree in 2014. While his charitable contributions to the university remain private, the Los Angeles Times reported in 2019 that “it is a staggering generosity that has not previously been reported and ranks him among the most significant backers of higher education in the West.” Wayne was an outstanding leader who had a relentless drive to better the world through philanthropy, giving his time and financial resources to cancer research with a focus on eradicating pediatric cancer through the establishment of the William Lawrence and Blanche Hughes Foundation. On a personal level, Wayne’s passion was thoroughbred racing. His beloved Spendthrift Farm, a Kentucky-based thoroughbred stallion farm, is home to many champion horses including the 2020 Kentucky Derby winner Authentic. Today, American Homes 4 Rent is defined by the vision that Wayne established. Across the organization, his spirit will continue to shape the way we operate and succeed in the years ahead. About American Homes 4 Rent American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and “American Homes 4 Rent” is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing and operating attractive, single-family homes as rental properties. As of June 30, 2021, we owned 54,785 single-family properties in selected submarkets in 22 states. Additional information about American Homes 4 Rent is available on our website at http://www.ah4r.com.

by admin
Comment Off
617 views

RCN Capital, the leading nationwide private lender for real estate investors, has been named on the 2021 Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies, ranking No. 3251. RCN Capital also ranked No. 180 on the Inc. 5000 Regionals: New York City Metro list earlier this year. “It is truly an honor to see RCN Capital on the 2021 Inc. 5000 list with the likes of so many other prestigious companies,” said Erica LaCentra, CMO of RCN Capital. “The tireless efforts of every member of RCN have helped us to grow to where we are today, and their ongoing hard work and dedication continues to push the company to greater heights.” RCN Capital provides unique financing options for real estate investors that are purchasing or refinancing residential and commercial investment properties. Initially starting out by offering short-term fix & flip and bridge financing, RCN has expanded their loan programs over time and now offers long-term financing options for investors looking to build their rental portfolios as well as new construction financing. The company has grown rapidly over the last ten years and has recently opened an office in Charlotte, NC as well as Los Angeles, CA in addition to their main headquarters in South Windsor, CT. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. About RCN Capital RCN Capital is a South Windsor, CT based national, direct, private lender. Established in 2010, RCN provides commercial loans for the purchase or refinance of non-owner occupied residential and commercial properties. The company specializes in new construction financing, short-term fix & flip and bridge financing and long-term rental financing for real estate investors. For more information on RCN Capital and RCN’s loan programs, visit www.RCNCapital.com.

by admin
Comment Off
559 views

Creates a Vertically Integrated Real Estate Platform 33 Holdings LLC announced the signing of a merger agreement to acquire interest in Beers Housing Inc., a General Contractor and a leading service provider in mortgage field services, maintenance, rehab, construction and development in the southeast US. The M&A is expected to strengthen 33 Holding’s vertically integrated real estate platform executing value-add and opportunistic real estate projects. Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business,” commented Chad Beers, Founder & Chief Executive Officer of Beers Housing Inc. “As part of 33 Holdings LLC, we will be able to serve 33’s existing portfolio as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future,” he stated. “This investment in Beers Housing Inc., presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services & construction services business to our platform,” stated Sanjay Raghavaraju, Founder & Chief Executive Officer of 33 Holdings LLC. “With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients,” stated Corey Oldknow, Broker & Chief Acquisitions Officer of 33 Holdings LLC. Under the terms of the agreement, Beers Housing Inc., will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing Inc., will take on the role of Chief Operating Officer (COO) at 33 Holdings LLC & Beers Housing Inc., helping with the integration of the two companies while ensuring value to Investors and Clients over the next few months. Both Chad Beers & Heather Beers will join Corey Oldknow & Sanjay Raghavaraju as Principals of 33 Holdings LLC. “Beers Housing Inc., is excited to join the 33 group of companies,” said Heather Beers, Managing Partner of Beers Housing Inc. “Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33’s significant financial and operational resources. The partnership with 33 ensures that BCP’s principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in.” About 33 Holdings LLC (33)33 Holdings LLC specializes in real estate investment, acquisition, development, construction and asset management across the Southeast US with a concentration on primary and secondary markets. Sanjay Raghavaraju founded 33 Holdings LLC on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. 33 Holdings has a strong track record of driving investment results. 33 Holdings differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with investors. For more visit http://www.33holdings.com About Beers Construction Partners (BCP),Beers Construction Partners specializes in maintaining and adding value to bank and investor assets throughout the Southeast by using a hands-on approach with a hybrid employee/subcontractor base model. Chad Beers, founded Beers Housing in 2007 with a strong focus on the mortgage field service space as well as fix and flip and has been able to adapt to various services lines with the strong leadership and client relationships brought in by Heather Beers to not only meet but exceed the industry and economical needs in the housing market. Beers Housing now has multiple service lines to include mortgage field services, maintenance, rehab, ground up construction and development. For more visit http://www.beershousing.com