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Green River Capital, a real estate firm that provides REO asset management, loss mitigation, valuation, collateral review, property management and a full suite of component real estate services, has announced the launch of Rental Asset Management & Performance (RAMP), a new intelligent surveillance service for single-family rental properties.
RAMP provides detailed performance data information on securitizations (including multi-borrower transactions), managers, borrowers, and properties, and is designed to collect and standardize data needed to monitor the performance of multi-borrower securitizations. RAMP leverages Green River Capital's analytics, due diligence, surveillance capabilities, and insight developed in valuing and inspecting more than 100,000 properties for institutional buyers to allow portfolio owners, property managers, multi-borrower lenders, investors, securitizers, and servicers to monitor rental portfolio performance. The services RAMP provides include a comparative analysis of actual performance to underwritten assumptions, according to Green River.
"The success of the single borrower deal has emboldened the market to expand lending options to smaller property owners—connecting Wall Street to Main Street—but, at the same time, this has also created challenges in terms of reporting, surveillance and vendor management,” said Tim Reilly, president of Green River Capital. "RAMP is fully operational; its surveillance tools give all stakeholders a granular view of their portfolios allowing them to see performance of individual properties within large and diverse portfolios."
A comprehensive deal overview that includes number of units, vacancy rates, debt payments per property, gross potential and actual income, expenses, and net monthly income is provided by RAMP in order to give users a clear picture of monthly property-level performance. RAMP users can create a time series to determine which properties generate enough income from rentals to satisfy monthly costs. Also, portfolio owners can use RAMP to measure the performance of property managers, and property managers can use RAMP to measure how tenants are performing.
RAMP aggregates data from multiple sources into a single repository in a homogenized format for export, which is available to the secondary market for use. Reports are customizable to include both loan and property level information.
Green River Capital is based in Salt Lake City, Utah, and is wholly owned by Clayton Holdings, a subsidiary of Radian Group, Inc.
