In response to the mortgage crisis and at the conclusion of approximately 12 months of market surveys and focus sessions with Bankers, Private Lenders, Developers, Mortgage Loan Servicers, Builders and Consumer Borrowers, and Real Estate Sales Professionals, TRC concluded:
“The current economic crisis as it relates to mortgage lending has created significant challenges and exposed gaps in regulatory and banking expertise. Regulators, Bankers and Mortgage Servicers are typically not staffed or trained to manage the significant volume of specialized activities associated with real estate assets.” Rob Haney, TRC
These activities are broadly separated into three categories:
¤ Valuation – Establishing real value estimates based upon real market conditions
¤ Stabilization – Preventing physical deterioration from compounding market deterioration.
¤ Disposition – Liquidating real estate assets within defined objectives.
Terranova provides specialized real estate services required to objectively and prudently determine necessary collateral objectives; then executes and reports on those objectives.