Equi-Trax Named Exclusive Valuation Provider by Red Rock
Equi-Trax Asset Solutions LP, a national collateral valuation provider offering a line of hybrid valuation products delivered under a meticulous quality control process to bridge the gap between BPOs and full appraisals, was selected to offer its services to Red Rock Servicing on an exclusive basis.
Red Rock Servicing provides national asset management servicing that relies on a home-grown workflow technology to manage and automate the services that support the loan asset life-cycle.
“We are very excited about this partnership because it underscores the importance of precise valuations in pre-foreclosure and foreclosure transactions,” said Guy Taylor, CEO at Equi-Trax. “In the absence of trusted, accurate valuations, transactions such as REOs and short sales will not get done.”
“We offer the entire breadth of services as it relates to the debt life cycle. But our pre-foreclosures, foreclosures, HAFA short sales and REOs will be handled by Equi-Trax,” said Richard Kaye, founder and CEO of Red Rock. “All of these transactions require an accurate valuation before a strategy for a resolution can be determined.”
Red Rock specializes in borrower re-underwriting and rehabilitation, HAFA-compliant short-sales, deed-in-lieu, comprehensive REO services, and other services.
The aim of this partnership is to ensure that transactions, such as REOs and short sales, can be handled in as efficient a fashion as possible, that borrowers are treated with respect, and that investor guidelines are followed. “Between our high-quality valuation products and Red Rock Servicing’s asset management acumen, we are bringing a much needed but much overlooked offering to the market,” said Taylor.
About Red Rock Servicing
Red Rock maximizes investor return through a combination of superior technology and a comprehensive, nationwide suite of services that shepherd investor assets from initial boarding through final disposition, with as little or as much direct stakeholder involvement in each stage as desired. Red Rock’s technology allows easy oversight and management of each stage of the lifecycle process, for both performing and non-performing loans. In addition, it facilitates inclusion and management of other third-party service providers into the process, while maintaining a single system of record, bringing efficiencies to all associated stakeholders.
About Equi-Trax Asset Solutions
Equi-Trax Asset Solutions, LP, Santa Barbara, Calif., is a national property valuation firm servicing the U.S. financial services industry. By leveraging AVM technology and the skills of certified appraisers licensed to serve the mortgage industry, Equi-Trax developed a new line of collateral valuation products that combined the best elements of BPOs, AVMs and desktop appraisals. Equi-Trax has earned a leading position in the industry through the use of detailed analytics, quality control, valuation accuracy and service flexibility. The firm’s technology platform uses over 400 data rules and connections to over 17,000 certified, evaluated and performance-rated vendors to give its clients the information they need to manage their risk appropriately at a price they can afford. Find out more about Equi-Trax Asset Solutions at http://www.equi-trax.com.