Leading private lender association and nationally licensed valuations and default services provider partner to meet private lenders’ increasing demand for default management services
LAKE FOREST, Calif.--(BUSINESS WIRE)--RES.NET, a technology platform specializing in mortgage banking default, and The American Association of Private Lenders (AAPL), the oldest association representing the private real estate lending industry nationally, today announced the companies have entered into a strategic alliance to provide core default management and asset recovery products and solutions to private lenders nationwide. AAPL members and affiliates now have access through the association’s Member Discount program to RES.NET’s all-encompassing technology suite including the Loss Mitigation’s Short Sale with Deed in Lieu Module and Real Estate Owned (REO) portals. Users can also leverage RES.NET’s single sign-on (SSO) integrated partners with added tools for accessing USRES’ default valuation products, Interactive Automated Valuations Model (IAVM) through an integrated partner, and Xactware’s Repairwise and XactPRM, providing repair estimating and renovation management tools.
Formed in 2009, AAPL is the first national organization representing the private real estate and peer-to-peer lending industry. Its members include private money lenders, hard money lenders, mortgage fund managers, brokers and service providers from around the United States. Now AAPL members can benefit from each of RES.NET’s portals to communicate with third party providers, real estate agents, asset management providers, eviction attorneys, and closing/title providers to track and manage the essential tasks and communication required when working with a borrower during the negotiation of a short sale or deed in lieu of foreclosure, and post foreclosure, with the disposition and recovery of the asset. The suite of portals is designed to work independently or in tandem, providing a seamless workflow in any kind of operation.
“We are thrilled to partner with such a recognized and well-respected default services provider in the industry,” said Linda Hyde, managing director of AAPL. “We are excited to now bring powerful loss mitigation tools to our members through RES.NET’s joining of our Member Discount program. Our goal is to provide our members with a variety of ethical and experienced partners who can solve their individual challenges, as well as address challenges throughout the private lending industry.”
Angela Hurst, SVP, USRES and RES.NET, said, “We are pleased to partner with AAPL to help its growing membership of private lenders better evaluate their position. Each of our portals has been designed specifically to support mortgage default and each expansion has been designed by customer experience and compliance experts. After decades of serving a highly-regulated industry, it is purpose-built to fill critical gaps within each customer’s own process and provides solutions-based input from subject matter experts, and scores of clients over the years. Together with the AAPL, private lenders nationwide now have access to this suite of solutions, providing lenders the ability to evolve alongside the industry as new strategies emerge and moreover, as we support our private lending customers as they prepare for added regulation in private lending.”
The mission of RES.NET is to offer a more holistic product so clients can get the best technology available all under one roof along with combining new proprietary solutions with third party integrated tools, filling critical gaps that have fragmented the marketplace for many years. RES.NET offers an all-encompassing platform for default banking subscribers, including bank and non-bank lenders, servicers, investors, capital markets and third party asset management providers, integrating features such as automated workflow, tasking, messaging, reporting, and document sharing with flexible customization offerings enables the company to provide efficient, tailor-made solutions to its growing customer base.
Established in 2003, RES.NET, a wholly-owned subsidiary of USRES, is the leading technology solution in default and asset recovery within the real estate banking and mortgage servicing industry. RES.NET is architected as an enterprise application that is driven by client feedback and allows users to create customizable workflows for REO, Loss Mitigation, Short Sale, Deed-In-Lieu, Pre-foreclosure, and Valuations. Its suite of portals is designed to work independently or in tandem, providing a seamless solution in any kind of operation.
About the American Association of Private Lenders
The American Association of Private Lenders (AAPL) is the first and largest national organization representing the private real estate and peer-to-peer lending industry. Its three core principles – Ethics, Advocacy, and Education – provide a foundation for a new generation of real estate capital. AAPL serves as a catalyst for industry growth by fostering awareness, promoting best practices and encouraging a standardized code of ethics for its membership. More information can be found at aaplonline.com.