theMReport.com Your trusted source for mortgage banking news
RockTop Partners, a Texas-based buyer of residential loan portfolios, has selected RIO Genesis as its technology platform provider, the software firm announced.
As a company specializing in loans and properties with title problems, RockTop has seen "tremendous growth" in recent months, according to president and founding partner Jason Pinson, and only expects that trend to continue—necessitating the addition of a technology platform to help handle management and marketing, communications, compliance, due diligence, and more.
"An American Land Title Association survey determined that title problems are found in up to 36 percent of all residential real estate transactions," Pinson said. He added that RockTop's own experience working with title defects shows at least 10 percent of loans in any given portfolio have defects “serious enough to trigger reps and warrants, impair servicer loss mitigation execution and/or negatively impact asset price.
"Because of this, we believe it is critical to our continued success that we utilize all the power of the RIO Genesis technology," he continued.
"RIO Genesis is actually more than a simple software program; it is an inclusive, affordable solution for running all aspects of a real estate-related enterprise," said Michael Krein, CEO of RIO Software Solutions, Inc. "We are delighted to be associated with RockTop Partners, who are always on the lookout for properties to purchase as one-offs or in bulk, and we look forward to building a very strong business relationship in the months and years ahead."
