LRES reports 'dramatic growth' in 2015
Company poised for more in 2016
LRES, a national REO and appraisal management company offering property valuations, asset management, HOA and technology solutions for the mortgage and real estate industry, announced Thursday that the company had a “banner year” in 2015.
According to a release from the company, LRES saw its revenue grow 58% growth throughout 2015, and the company is expecting a 19% growth rate in 2016, thanks to its “diverse end-to-end service offerings and expanded client base.”
Among the many factors in LRES’ success, it was partially attributed to launching its homeowners’ association services.
With its HOA services, LRES aids originators, servicers and investors in dealing with potential risks associated with HOA defaults and liens.
The company also said that its strong 2015 was due to the company’s strategic partnership with OSC, a lender-placed insurance, tracking and compliance services provider, as well as the integration with Lenders Choice, a residential real estate appraisal management company that specializes in residential appraisals.
LRES is now helping OSC manage the collateral insurance requirements of its customers’ portfolios, the company said.
LRES also said that it continues seeking additional strategic acquisition targets to strengthen and diversify its offerings.
LRES also announced that it now fully integrated with Platinum Data Solutions RealView and Mercury Network using LRES DirectConnect, an integration framework that enables third-party systems to “integrate seamlessly” into the LRES LINK order management platform to optimize and accelerate the appraisal order processing.
LRES said that it also upgraded its client-vendor portals for correspondent lenders and associated financial institutions to improve user experience and serve a broader base of loan officers.
LRES also said that it added several “key” associates to its executive team, including a new chief technical officer, three vice presidents of sales, a vice president of finance/controller and a client relations manager.
“Through LRES’ additional diverse service offerings, experienced executive team, increased technology enhancements, improved internal processes and a successful acquisition, we experienced a year of dramatic growth in 2015 and project continued growth through 2016,” said Roger Beane, CEO of LRES.