Clayton Holdings LLC, an operations and risk management consultant to the mortgage and real estate industries, announced today its acquisition of Red Bell Real Estate LLC, a valuation technology provider, for an undisclosed sum.
Clayton’s acquisition of Red Bell comes almost a year since it was acquired itself. In May 2014, the company was purchased by Radian Group, a private mortgage insurance provider, for $305 million. Now operating as a wholly owned subsidiary of Radian, Clayton provides information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service, and monitor loans and asset-backed securities. To date, Clayton has performed due diligence on more than 10 million mortgage loans.
Clayton President Joe D’Urso said the Red Bell acquisition will enhance the company’s suite of technology solutions. Licensed to sell real estate in all 50 states, Red Bell typically co-lists properties with local, state-licensed real estate professionals. Red Bell also provides valuation products, including automated valuation models (AVMs) and broker price opinions (BPOs) used by major investors, lenders and loan servicers. The company’s technology helps investors monitor loan portfolio performance and direct loss-mitigation activities, acquire and track nonperforming loans (NPL), and value and sell real estate owned (REO) property through a secure platform.
“Red Bell has done a great job of delivering technology-based solutions that allow its clients to remain competitive within an ever-changing landscape,” D’Urso said. “Red Bell is an important step in our strategic road map and will serve as the platform and the foundation for new initiatives within the broader real estate market.”
The acquisition includes Main Street Valuation LLC, a sister company of Red Bell. The company will remain in its Salt Lake City-based headquarters and continue to operate under its current brand. Jeffrey Jonas, Red Bell’s co-founder, and his senior management team are also staying in place. No other terms of the transaction were announced.
“We are excited to join a world-class organization like Clayton that is committed to the real estate and mortgage markets, and is willing to expand our real estate operations and work to develop game-changing innovations,” Jonas said.