""LRES"":http://www.lres.com/, a national provider of commercial and residential valuations and asset management, announced it is now serving the retail lending division of California-based ""PennyMac Financial Services"":http://www.pennymacusa.com/.[IMAGE] [COLUMN_BREAK]
As part of its services for PennyMac, LRES is managing appraisals that comply with all USPAP requirements as well as all state and federal appraiser independence regulations for the company's customers.
""We look forward to nurturing a long-term partnership with PennyMac and providing quality service and customizable valuation solutions for its customers,"" said LRES CEO Roger Beane.
LRES' automated selection process assigns the most experienced local appraiser for PennyMac for each appraisal in every market. LRES' staff then reviews the appraisal, ensuring it meets underwriter readiness and fits all regulatory requirements, including those set by PennyMac and HUD.
""We developed our relationship with LRES because the company has a solid reputation throughout the industry for cost effectively managing its network of appraisers, which delivers quality appraisals quickly, with a strong focus on compliance,"" said Paul Atkinson, first VP of PennyMac.