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Rexera

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Company Research Report: Rexera



Company Overview



  • Name: Rexera

  • Mission: No information is available

  • Founded: 2020

  • Founders: Vishrut Malhotra, Anton Tonev, and Atin Hindocha

  • Key People:

  • Vishrut Malhotra, Co-founder and CEO

  • Anton Tonev, Co-founder and Head of Business Development

  • Atin Hindocha, Head of Operations

  • Headquarters: No information is available

  • Number of Employees: Over 100

  • Revenue: No specific figures provided; however, the company experienced 10x revenue growth in 2021 and expects to quadruple revenue in 2022.

  • Known For: Automating the homeowners association (HOA) component of real estate transactions, predominantly through their platform for HOA document acquisition and analysis.


Products



Title and Escrow


  • High-Level Description: Solutions aimed at streamlining due diligence processes and reducing overheads in real estate transactions.

  • Key Features:

  • Acquisition of necessary legal documents

  • Risk mitigation

  • Enhanced customer experience


HOA Document Acquisition


  • High-Level Description: Services enabling clients to efficiently obtain HOA documents to facilitate real estate transactions.

  • Key Features:

  • Confirmation and order placement of HOA documents within hours

  • A substantial nationwide HOA database

  • Integration with systems like Qualia Core, SoftPro, RamQuest, Resware, and Atlas


Lien Search and Utilities


  • High-Level Description: Offers comprehensive lien search and utility balancing services.

  • Key Features:

  • Lightning-fast searches for taxes, permits, and utilities

  • Written confirmation of lien report accuracy

  • Comprehensive E&O insurance


Mortgage Payoff


  • High-Level Description: Secures and times mortgage payoffs aligned with closing dates to mitigate risks.

  • Key Features:

  • Speed up closings with a 3-day average turnaround time

  • Nationwide database of lenders

  • Integrated fraud detection


Condo Document Acquisition and Review


  • High-Level Description: Geared toward lenders to streamline condo document acquisitions and reviews.

  • Key Features:

  • VA, FHA, Fannie, and Freddie packages

  • State-specific experts

  • Option for prepaid documents


Asset Management


  • High-Level Description: Provides tailored services for SFR investors, lenders, and acquisition specialists.

  • Key Features:

  • Efficient acquisition of necessary documents

  • Risk information consideration


Recent Developments



New Products Launched


  • Mortgage Payoff Solution: Introduced to streamline and secure payoff processes for real estate transactions.

  • Features: Utilizes an extensive lender database, schedules ordering based on closing dates, and integrates with existing production systems.


Partnerships


  • Partnership with Velma: Announced in March 2023, merging Velma’s automation technology with Rexera's document acquisition capabilities.

  • Preferred Vendor for WFG National Title Insurance Co.: Named in May 2023, providing acquisition and analysis of HOA documents as part of the WFG Preferred Vendor Program.


Conclusion



Rexera has positioned itself as a leader in automating and streamlining the real estate closing process focusing on HOA document acquisition. Its strategic partnerships and innovative solutions such as the Mortgage Payoff Solution and HOA Document Acquisition have garnered industry attention, contributing to its substantial growth and market penetration.