DALLAS, TX -- (Marketwire) -- 02/19/13 -- FROM THE MBA MORTGAGE SERVICING CONFERENCE AND EXPO IN DALLAS - Carrington Technology Solutions, LLC (Carrington) and Equator Business Solutions (Equator), the national leader in default servicing technologies, today announced a partnership to provide financial institutions, institutional investors and large-scale property management companies with a scalable, end-to-end, single-family asset management suite dedicated to efficiently maximizing the performance of multiple-property portfolios. Through an exclusive agreement, RentPointe, Carrington's proprietary software application specifically designed to meet the complexities of managing diverse portfolios of single-family rental properties, is being integrated into Equator's EQ Investor Platform.
The industry's first software product that enables real-time, simultaneous oversight of multiple property managers on a national basis, RentPointe offers a specific advantage to property management companies tasked with managing multiple properties and groups of individual property managers. Delivering RentPointe as a software as a service (SaaS) solution through Equator will introduce this and other key advantages to a broader market and provide Equator's EQ Investor Platform users with a robust, comprehensive system to more effectively meet their acquisition, property management and asset disposition needs.
Equator's EQ Investor Platform provides due diligence, acquisition, asset transfer, REO rental and REO disposition through its virtual Equator Marketplace to agents, vendors, tenants and investors via various market-specific portals. Integrating RentPointe within this platform provides multiple user-specific benefits, including a higher, more efficient workflow, access to Equator and Carrington data for net present value modeling, full transparency and audit compliance, in addition to providing an electronic marketplace for real-time management of vendor orders. Access to and delivery of RentPointe information will flow through Equator's existing interface, creating a seamless experience for the end-user.
"Understanding the growing need for a product that is both tailored to portfolio management and has the ability to manage multiple property managers, we designed RentPointe to be a 'manager of managers' software solution," said Brent Rasmussen, Executive Vice President and Chief Information Officer for Carrington Technology Solutions, LLC. "Offering RentPointe through this partnership presents a win/win as it marries Carrington's operational expertise with Equator's reputation as a leading technology solutions provider for the real estate and mortgage industries. Having worked closely with Equator in the past, both as a customer and as an integration partner, I'm confident that teaming up with them once again will result in a positive impact on the market."
"RentPointe was built from the ground up to meet our needs for managing geographically-dispersed portfolios of single-family rental units," said Carrington Holding Company CEO Bruce Rose. "Over the past seven years, we have used the solution to optimize rental collections, provide in-depth analytics and effectively manage a portfolio of nearly 20,000 U.S. properties. Understanding the impact a solution such as this can have on the industry, we are pleased to be able to offer RentPointe to the growing market for single-family rentals."
RentPointe's core portfolio management capability provides a fully scalable, internet-based technology to manage every aspect of a rental property's lifecycle -- from acquisition through rehabilitation and lease-up to ongoing management. Vendor management, reporting and business analytics modules are included along with electronic document upload capability to enable lease and rental agreements, invoices and vendor contracts to be securely stored and reviewed online as necessary.
"As a technology leader committed to providing the industry with the most complete and advanced solutions, we are pleased to integrate RentPointe into our EQ Investor Platform to meet the industry's growing need for a better way to manage rental property portfolios," said John Vella, Chief Operations Officer for Equator. "Over the past few years, we've noticed an increasing demand for an application that allows people to more efficiently manage their single-family rental assets -- and we've seen, first-hand, how Carrington has been able to do just that with RentPointe as a proprietary solution. By partnering with Carrington in this way, we are able to offer RentPointe to our existing customer base and quickly bring to market a solution the industry desperately needs."
"In today's market there is no solution that fits all the needs of the investors in this space. By providing this end-to-end capability, we feel we can provide this space with an industry-leading platform," said Equator CEO Chris Saitta.
Beyond its core capabilities, RentPointe offers these mobile and additional modules:
•User configurable workflow and task management •Mobile access •Customer electronic forms and documents •Customer letter automation and print services •HOA and property tax tracking and payment automation •Electronic document storage and management •Integrated accounting package with reconciliation and check modules
Timing and Availability
The product, which is currently in pilot testing, will be available for commercial distribution on April 1. For more information and technical details regarding this solution, please visit www.rentpointe.com or call (855) 574-RENT.
Founded in 2003, Equator is the leading provider of default software solutions for lenders, servicers, real estate agents and other mortgage and real estate industry professionals. The company's infrastructure software as a service (iSaaS) solutions include EQ Workstation, EQ Marketplace, EQ Midsource® and EQ Portals, which can be used a la carte or as an end-to-end solution. The company's REO, short sale and loss mitigation modules have processed more than $150 billion in transactions. Four of the top five financial institutions currently use Equator's platform. Equator is headquartered in Los Angeles with offices in Seattle, Dallas, and Irvine. For more information, please visit Equator.com.
About Carrington Technology Solutions, LLC
As the technology arm of the Carrington family of companies, Carrington Technology Solutions, LLC leverages its industry-specific operational expertise and technology experience to provide leading solutions to third-party customers in the real estate and mortgage technology markets. RentPointe, the company's premier software application designed to meet the complexities of managing a diverse portfolio of single-family rental properties, delivers a complete end-to-end asset management suite for financial institutions, institutional investors, and large-scale property management companies via its strategic partnership with technology solutions provider, Equator. Carrington Technology Solutions, LLC is located in Aliso Viejo, Calif.
About Carrington Holding Company, LLC
Carrington Holding Company owns and operates multiple businesses that cover virtually every aspect of single family residential real estate transactions -- investments in U.S. real estate and mortgage markets, loan origination and servicing, asset management and property preservation, real estate sales and rental, and title and escrow services.
With more than three decades of experience and guided by a consistent philosophy, Carrington has built the infrastructure necessary to maximize value during any market cycle. Its affiliate companies include Carrington Capital Management, LLC, Carrington Investment Services, LLC, Carrington Mortgage Services, LLC, Carrington Property Services, LLC, Atlantic & Pacific Real Estate, LLC, White Van Real Estate Services, L.P., Telsi Escrow, Inc., and Telsi Real Estate Solutions, LLC. Carrington Mortgage Services, LLC is an equal housing opportunity lender. To learn more about Carrington Holding Company, visit our website at www.carringtonhc.com.
Editor's Note: RentPointe is a trademark of Carrington Technology Solutions, LLC. All other trademarks and trade names held within are the properties of their respective holders.
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