DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/329085
» VISIT US ONLINE @ DSNEWS.COM 71 P R O P E R T Y VA L U AT I O N KEY PERSONNEL Roger Beane CEO and Founder Paul Abbamonto COO Don Mask CFO Alice Sorenson Chief Investment Officer Staffing » 100+ employees CORPORATE DETAILS: 765 The City Drive South, Suite 300, Orange, California 92868 | 714.872.5813 | Marketing@ LRES.com | LRES.com CORPORATE PROFILE: LRES is a national provider of property valuation and REO asset management products for the real estate, capital market, and finance industries. LRES specializes in helping clients effectively manage regulatory compliance and financial risks associated with valuation matters in the mortgage origination and default markets. LRES has experienced significant year-over-year double-digit growth, regardless of market conditions, thanks to an experienced staff, advanced technology, solid business planning, and efficient operations. COMPANY HISTORY: The company, launched in 2001 as Lighthouse Real Estate Solutions, offers residential and commercial valuation services along with REO asset management services for the real estate and finance industries. In 2010, reflecting the company's significant growth, it rebranded itself to LRES Corporation and added capital markets and mortgage originators to its client list. In August 2013, LRES opened its Operations Facility in Phoenix, Arizona, to accommodate continued growth, expand its national footprint, and also serve as a key component of the company's disaster recovery plan. ADDED VALUE TO CLIENTS: LRES' core services are particularly useful in the origination and default markets, providing value for both performing and non-performing assets. The company's entire valuation staff has completed the initial 15-hour USPAP training course as well as the seven-hour USPAP course, as part of its commitment to upholding those standards of uniform appraisal practice, FNMA guidelines, and client requirements. Further, all LRES valuation staff have been certified through third-party Appraisal Independence Requirements training. Every appraisal report is ordered through LRES' proprietary system and placed with properly licensed/certified appraisers. In addition, experienced LRES valuation auditors and/or licensed appraisers review 100 percent of all orders line by line to ensure they are "underwriter-ready" and meet its clients', FNMA, and applicable state requirements. BUSINESS LINES, SERVICES, AND PRODUCTS: LRES offers a complete suite of valuation products and services including appraisals, broker price opinions (BPOs), broker opinions of value (BOVs), and enhanced valuation products, as well as an assortment of hybrid valuation products. The company also offers comprehensive REO asset management and disposition services. GEOGRAPHICAL SCOPE AND COVERAGE AREA: LRES provides nationwide services for national institutions, mortgage lenders, mortgage servicers, credit unions, and capital markets through its panel of more than 7,500 appraisers and more than 8,500 brokers/agents. KEY FEATURES » LRES offers focused, customer-centric solutions to its clients. » A chief appraiser overseeing valuation products and services » Serving as a nationwide licensed and regulatory compliant appraisal management company with a national panel of licensed, certified real estate professionals » An extensive vendor application and scoring procedure ensuring the most accurate and timely valuations » A proprietary valuation review process conducted by licensed staff of platform appraisers » A technology platform offering clients and vendors easy integration through a hub that is flexible, secure, and minimizes risk » A management team with extensive industry experience in both client and vendor environments COMPETITIVE ADVANTAGE » Advanced technology for regulatory compliance and quicker turn times » 24/7 secure online ordering environment » Simple client integration with the LRES ordering platform » Secure credit card ordering KEYS TO SUCCESS » Smart application of technology » Knowledgeable, experienced staff offering personable service » Continuous effort to improve performance » Spending the time to truly understand and help conquer clients' business hurdles. 2014 GOALS AND STRATEGIES » Strive to maintain its impressive record of year-over-year double-digit revenue growth » Diversification through the addition of new market segments and the development of new products » Strategic business acquisition(s) to grow the company horizontally and/or vertically » Serving as the business partner of choice for clients and vendors through cost-effective pricing and crisp, responsive customer service INDUSTRY AWARDS AND ACCOLADES » National Pinnacle Awards for Best Listing Practices, Outsourcer; Best Closing Practices, Outsourcer Nationwide coverage Orange, California Corporate Headquarters LRES CORPORATION