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TMCNet:  LPS signs agreement with RentRange for rental property income data

[September 04, 2012]

LPS signs agreement with RentRange for rental property income data

Sep 04, 2012 (Datamonitor via COMTEX) -- Lender Processing Services, Inc., or LPS, a provider of technology, data and analytics to the mortgage and real estate industries, has entered into an agreement with RentRange.com, a provider of house rental services, to offer rental property income data to mortgage servicers and investors to make decisions related to distressed housing assets.

LPS will provide RentRange reports to clients seeking rent estimates for real estate-owned (REO) properties and to investors and others wanting established values for properties based on their rental income potential.

"LPS selected RentRange because we felt it offers the best empirically based rental estimates of any product on the market today," said Rob Walker, managing director of LPS Applied Analytics. "RentRange is a powerful tool to help our clients make more informed decisions about real estate in a new and challenging environment." LPS Applied Analytics will provide the RentRange solution to mortgage servicers looking to make sell or hold-and-rent decisions on REO assets, or to calculate rent estimates for their REO properties. RentRange can also be used by investors, asset managers, REITs or hedge fund managers seeking to value properties or a portfolio of loans based on rental income potential. RentRange reports ordered through LPS will incorporate property characteristics data from LPS' nationwide property, the company said.

"The rental property market is on the rise because of low interest rates and home prices, and modest increases in rents in many markets. Our product is the best way to offer reliable rental market intelligence to those trying to understand the market and make informed decisions during this increasingly active time," said Walter Charnoff, founder/CEO at RentRange.

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