George B. Flessas intended to retire in the Philippines after selling his REO firm back in Milwaukee, Wisconsin. Instead of settling, living in a new country inspired him to start another venture due to a need he saw for a nationwide Multiple Listing Service (MLS) and the low cost to operate a business in the Philippines.
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eMortgage Logic, LLC is celebrating its 10th year in business. The company provides residential real property valuations, data, analytics, and customized solutions for mortgage lenders, servicers, and investors nationwide. The idea for eMortgage Logic originated with Ralph Sells during his tenure at Freddie Mac, after Sells revived a struggling internal broker price opinion company acquired by the GSE's HomeSteps division.
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Valuation Vision, based in California, has released a new valuation product that relies on the assessments of not one but three real estate professionals. BPOMerge offers servicers and investors a comprehensive report with broker price opinions (BPOs) from three real estate agents. MergeValue then analyzes the comparables the agents relied on and employs advanced algorithms to calculate a single price based on all the data from the agents. Each agent's comparables are weighted by the agent's performance metrics.
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JVI Solutions LLC, a nationwide appraisal and inspection services provider, and Active Data Technologies Inc., the parent company of Foreclosure.com, announced Wednesday that the two Florida-based firms have forged a technology partnership which they describe as "game-changing." The joint venture will soon introduce a proprietary automated home appraisal and broker price opinion (BPO) system that integrates interactive analytical data into a mobile platform.
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Baron and Budd attorneys filed a lawsuit on February 10, alleging that Wells Fargo and JPMorgan Chase charged excessive default service fees. According to the suit, while federal law allows mortgage servicers to charge borrowers BPO fees, Wells Fargo and Chase marked up the charges or performed unnecessary services to make a profit, which is not permissible. The suit also claims that the fees are disguised on statements as other charges, miscellaneous fees, or corporate advances.
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Clayton Holdings LLC announced Wednesday it has completed its acquisition of Green River Capital. No financial details were disclosed. Green River has a staff of approximately 200 and a nationwide network of more than 5,000 real estate brokers, providing REO, short sale, and BPO services to investor, financial institution, and GSE clients. Green River will continue to operate as a standalone business, under its current brand and led by its current management team.
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Clayton Holdings announced Friday that it has agreed to buy Green River Capital. The transaction is expected to close within 60 days. No financial details were announced. Green River will become a wholly owned subsidiary of Clayton Holdings. The company will continue to operate as a standalone business, under its current brand, in its current location, and will be led by its current management team.
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eMortgage Logic, LLC, a national provider of property valuation services, has developed a new report that the company says continues to demonstrate its ability to bring clarity and transparency to the residential valuation space. eMortgage Logic's new Platinum Valuation Report (PVR) combines broker price opinion (BPO) and automated valuation model (AVM) data, coupled with a detailed reconciliation analysis report completed by a licensed or certified appraiser.
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Clear Capital announced Thursday the appointments of Gabriel Nacht as CFO and Brian Wick as VP of marketing. Both individuals bring more than 24 years of experience to their positions with the company. A few weeks ago, Clear Capital also announced the appointment of Erik Lundquist to head its commercial valuations team, and the company says it's looking to add further to its staff, with a number of key positions currently available.
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eMortgage Logic (EML), a national property valuations provider based out of Texas, is taking the guesswork out of determining the neighborhood for the subject property with the release of new proprietary interactive polygon mapping functionality. The company says the transparency provided through this new tool will enhance internal and external quality analysis and will provide clients with the confidence that comparables are not only similar in characteristics, but also in location.
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