Red Bell Real Estate, LLC Assigned Residential Vendor Rankings from Morningstar Credit Ratings
Tue March 21, 2017
RED BELL REAL ESTATE AND PYRAMID PLATFORM RECEIVE MOR RV1 RESIDENTIAL-VENDOR RANKING FOR ASSET VALUATION AND ASSIGNED MOR RV1 RESIDENTIAL VENDOR RANKING TO PYRAMID PLATFORM
TAMPA, Fla., March 21, 2017 – Clayton Holdings LLC, a leading provider of loan due diligence, surveillance, REO management, consulting, valuation, title and settlement services to the mortgage industry, announced today that its subsidiaries Red Bell Real Estate, LLC (Red Bell) and Main Street Valuations, LLC d/b/a Pyramid Platform (Pyramid Platform) have received their first residential vendor rankings from Morningstar Credit Ratings, LLC (Morningstar). Red Bell was assigned a MOR RV1 residential vendor ranking in the asset valuation market and Pyramid Platform received a MOR RV1 ranking as a real estate technology solutions provider. The forecast for both rankings is “Stable”.
Headquartered in Salt Lake City, Red Bell is a provider of leading-edge valuation products, including automated valuation models (AVMs) and broker price opinions (BPOs) used by major investors, lenders and loan servicers. Pyramid Platform offers advanced technology solutions that help investors monitor loan portfolio performance and direct loss mitigation activities; acquire and track non-performing loans (NPL); and value and sell real estate owned (REO) through a secure platform.
According to Morningstar Credit Ratings Ranking Announcement published on Feb. 27, 2017:
The assigned rankings reflect Morningstar’s assessment of both companies’ infrastructure and client-driven performance results. The Stable forecast for both rankings is indicative of both companies’ solid vendor performance derived from an experienced management team, excellent proprietary technology, solid enterprise wide risk controls, and attention to client-driven performance results. A robust training regimen, comprehensive policies and procedures, and an effective quality control environment minimize operational risk and promote best practices across the enterprise. Management has developed vendors election criteria and vendor-rating standards that effectively measure vendor performance, as reflected in the execution of service-level agreements with their customers. The companies have developed a scoring system to monitor and measure each company’s performance and product quality against service-level agreement goals, enabling senior management to assess capacity and workflow to meet or exceed client benchmarks. Red Bell and Pyramid Platform continue to integrate best practices across the enterprise with Clayton and its ultimate parent, Radian. The combined offerings of Red Bell and Pyramid Platform, as well as Clayton and Radian, represent a full suite of end-to-end residential real estate services that present clients with a single source of product solutions.
“We are extremely pleased with Morningstar’s assessment of Pyramid Platform’s SAAS delivery platform and Red Bell’s core, leading-edge pricing products and real estate solutions,” said Jeff Jonas, president of Red Bell. “Continued support from two financially strong companies committed to the real estate and mortgage markets—Clayton and Radian—allows us to continue to expand our operations and to develop game-changing innovations that provide our clients with best-in-class service and results.”
About Clayton Holdings LLC
Clayton Holdings LLC, a subsidiary of Radian Group Inc. (NYSE: RDN), provides risk-based analytics, residential loan due diligence, consulting, surveillance and staffing solutions. The company’s subsidiaries include: Green River Capital, customized REO asset management and single-family rental services; Red Bell Real Estate, advanced AVMs, BPOs; Main Street Valuations (d/b/a Pyramid Platform), technology to acquire and manage the disposition of properties; ValuAmerica, national title and appraisal management company and vendor management technology provider; and Clayton Euro Risk, global services. For more information, call 877.291.5301 or visit www.clayton.com.