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Most Valuable Company Profile: Cyprexx Services LLC

Cyprexx Services LLC is a national field services company, providing property preservation, maintenance, repair, inspection, tenant-occupied services, vacant property registrations, and additional services to some of the country’s largest financial institutions, the government-sponsored enterprises (GSEs), servicers, asset management companies, and brokers.

“Our commitment to quality and client satisfaction is where we stake our reputation,” said Ed Mullen, CEO of Cyprexx Services. “When clients do business with Cyprexx, they know they have a partner that will consistently do what we say we will do. The culture at Cyprexx is built on doing the right thing, not just for our clients, but for our employees as well.”

“Many of our management team has worked their way up through the company from entry-level positions into leadership roles,” said Rhonda Ory, EVP Human Resources and Owner of Cyprexx. “In the recruiting process, we look for professional, competent individuals, and then teach them the specifics of our industry, while giving them the ability to make their own decisions.”

Cyprexx’s ability to change and adapt has proven critical during the headwinds confronting the industry over the past 18 months, including the widespread foreclosure moratoria. However, one area where they prioritized stability and consistency was in staffing decisions in light of the challenges presented by foreclosure moratoria and diminished volumes.

RJ Ory, EVP Repairs for Cyprexx, said, “Retaining our seasoned, trained staff has been paramount to ensuring we are able to effectively manage additional volume when the moratoriums expire. Because Cyprexx is debt-free, we choose to maintain staffing levels in preparation for volume increases.”

A Nimble Approach
With the changes brought about during the pandemic, Cyprexx exhibited an ability to pivot and adapt to a changing environment, shifting its workforce to accommodate the market’s evolving needs. Cyprexx’s executive team keeps up with industry trends to help adjust to market fluctuations while actively managing staffing models to account for current and future volume forecasts.

“We utilize workload and staffing models that have been developed and evolved over our more than 25 years in this business,” said Tony Maher, Director of Business Development for Cyprexx. “Because our staff is cross-trained, we tactically arrange employees to assist other departments when a need arises, allowing us to be prepared for volume fluctuations. Our ability to adjust to volatile market shifts and our proven scalability in both staff and technology allows us to constantly maintain best-in class superior performance for all clients we serve.”

A Technological Edge
In partnership with Prempoint Inc., Cyprexx developed an access management system, eliminating the need for traditional key-based locks, and associated monetary and time costs from multiple re-keys. When synchronized with an app and Bluetooth device, the system grants remote access to properties via customizable scheduling and specified entry points.

In partnership with Passcode, Cyprexx has developed a high-tech, low-cost geo-tag system. Authorized users scan the geo-tag from a mobile device via app, and the tag communicates user data at “tag-in.” This includes who enters a property, date, time, duration, photos, etc.

Cyprexx also developed its InvisiBoard solution for windows of abandoned properties to improve the look of vacant homes. The installation of InvisiBoard ensures that abandoned properties do not negatively impact the community or values of nearby assets, as well as providing additional security for these properties.

Cyprexx’s RailKit System is a powder-coated finished, customizable handrail solution, replacing temporary solutions at distressed properties.

Aside from its product offerings maintaining the integrity of distressed properties, Cyprexx offers Pruvan, an app enabling users to receive work orders in the field, take photos, and complete orders by sending photos instantly. Through the app, photos are geocoded, ensuring that the photo sent is accurate, up-to-date, and taken at the correct property. All the integrated data can be filtered into customizable reports with Pruvan’s desktop downloader.

Rebounding after the pandemic may be a challenge for many, but Cyprexx is looking at it as an opportunity to grow.

“We have always been focused on maintaining best-in-class scorecards, quality, and responsiveness amongst all of our clients,” Mullen said. “With reduced volumes, staying focused on every property to ensure our clients see the same results from Cyprexx remains our top priority.”

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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