An initiative of LANDCO Portfolio Services. LANDCO provides risk-management for holders of non-owner occupied mortgages and special servicing for troubled loans.
LANDCO’s Non-Owner Occupied Mortgage program is an opportunity to deliver best-in-class risk-management to lenders. The program can help make billions of dollars in financing available to private entrepreneurship by supporting thousands of non-owner occupied mortgage originations and bonds collateralized by them.
A. Rationale
- Single family rental homes today represent a big opportunity for commercial lending
- At the same time, non-owner occupied mortgages have shown a remarkably high rate of default since 2007
- Banks and bondholders need a dependable regime of risk-management if they are to re-open this opportune segment
- Critical management areas: lease compliance, financial reporting, physical inspection, troubleshooting
- There is as yet no “go-to” firm in the area of managing risk in non-owner occupied mortgages
B. Business Model
C. Platform
- Forms & systems interface:
- Compliance, financial reporting, leasing, physical inspection, maintenance
- Compliance, financial reporting, leasing, physical inspection, maintenance
- Strategic relationships:
- Home warranty, home maintenance, security, marketing & resale, renters’ organizations, legal