ORANGE, Calif.--(BUSINESS WIRE)--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, celebrates 15 years of providing managed business services for the origination and servicing markets.
In its decade and a half of service, LRES has evolved to best accommodate the changing needs of the mortgage industry. The company started as an appraisal and REO asset management company and grew its service offering to also include evaluations, proprietary technology solutions and specialized HOA services.
LRES has experienced a number of milestones within its 15 years in business that contributed to the success of the company today. Formerly known as the Lighthouse Real Estate Solutions Company, the company rebranded itself to LRES Corporation in 2010 to reflect the company’s significant growth. In 2012, it completed migration to a new virtual infrastructure and developed SSAE Type II/SAS70 certified data center to achieve MISMO 3.1 compliance. In 2013, the company opened an operations facility in Phoenix to accommodate continued growth, expand its national footprint and also serve as a key component of the company’s disaster recovery plan.
In 2014, LRES introduced hybrid valuation products to help its clients meet evolving property valuation requirements. These products combine accurate property values with additional information that is often overlooked but can substantially impact a property’s value. That was also the year LRES expanded business into 11 new states to become officially authorized to transact business within all 50 states.
In 2015, LRES added new service offerings with the launch of its homeowners’ association (HOA) services to aid originators, servicers and investors from potential risks associated with HOA defaults and liens. It also acquired a company formerly known as Lenders Choice, a residential real estate appraisal management company that specializes in fast and thorough completion of residential appraisals through its communications technology and software platform.
This year, LRES acquired Reno, Nev.-based Inside Valuation, which brought to LRES its strong network of more than 25,000 field agents and its customer support team. This team consists of residential and commercial valuation experts, which will strengthen LRES as a whole and will further enhance LRES’ position in the market. Through this acquisition, LRES increased its service offerings to include commercial evaluations, which contain thorough data and analysis to procure accurate and timely valuations for commercial properties.
“LRES has grown exponentially in the past 15 years through its additional diverse service offerings, experienced team, increased technology enhancements, improved internal processes and successful acquisitions,” said Roger Beane, CEO of LRES. “We look forward to the next successful 15 years of serving the mortgage industry and making it easy to do business with LRES.”
Orange 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.