LRES is celebrating 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 grown exponentially in the past 15 years through its additional diverse service offerings, experienced team, increased technology enhancements, improved internal processes and successful acquisitions,” LRES CEO Roger Beane said in the company’s press release.
LRES, formerly known as the Lighthouse Real Estate Solutions Company, rebranded itself to LRES Corp. in 2010, reflecting 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 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.
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, the company said.
“We look forward to the next successful 15 years of serving the mortgage industry and making it easy to do business with LRES,” Beane said.