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LRES Experiences Major Growth in 2016
[January 19, 2017]

LRES Experiences Major Growth in 2016


LRES, a national residential and commercial real estate services company providing valuations, REO asset management, HOA and technology solutions for the mortgage and real estate industry, announced the company has achieved many organizational milestones in 2016 due to the introduction of new service offerings, the growth of its executive team and an expanded client base.

The increased performance was partially attributed to its successful acquisition of InsideValuation, a provider of commercial and residential evaluations. Through that acquisition, LRES was able to strengthen its commercial unit and expand its overall product offering to include interagency-compliant Evaluations, performed by its strong network of more than 25,000 field agents.

LRES' new Evaluations offer lenders and servicers yet another option to determine property value. Evaluations are more cost effective than traditional commercial appraisals, reducing valuation costs by up to 75 percent and reducing turn time by as much as 50 percent or more. These valuation products can often be used in situations that do not call for a full appraisal, and there are a number of cases covered in the interagency guidelines that allow the lender to forgo a full appraisal.

LRES also strengthened its homeowners' association (HOA) services to aid originators, servicers and investors in dealing with potentialrisks associated with HOA defaults and liens. LRES established a partnership with a full-service litigation and transactional law firm, best known for its Real Estate and Consumer Finance practices. Through this partnership, the law firm now consults LRES on HOA Litigation and Loss Remediation. Another successful milestone for the company was the improvements of the proprietary HOA Solutions platform which allows LRES' Homeowner Association Solutions Department to run more efficiently, enabling earlier detection of HOA Liens. Due to these advancements in 2016, LRES assisted in mitigating and preventing approximately 1,000 possible HOA foreclosures from taking place; thus leading to millions in portfolio savings for its client base.



In addition to expanding through acquisition, LRES expanded its management team by adding several key associates to its executive team, including a chief technology officer, a chief appraiser and a new vice president of operations and a vice president of technology.

"LRES achieved many highlights in 2016 with our additional service offerings, growing skilled executive team, improved internal processes and another successful acquisition," said Roger Beane, CEO of LRES. "2016 was also the year LRES celebrated its 15-year anniversary, and we look forward to many more anniversaries better serving the real estate industry through enhanced offerings and quality customer service."


About LRES

Orange (News - Alert) County, Calif.-based LRES is a national residential and commercial real estate services company providing valuations, REO asset management, HOA and technology solutions for the mortgage and real estate industry. With more than 15 years of continued growth, LRES offers managed business processes for the origination and default markets. For more information about LRES, visit its website at www.lres.com.

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