Rockport CORE & VAL: The Perfect Combination for Bridge & Transitional Loans

Rockport has two products that support transitional and bridge loans really well, which is Rockport CORE and Rockport VAL, and the two products are integrated together and do a really good job. So, Rockport VAL we built over the last six or seven years to compete with ARGUS and so in so doing we try to keep all the power but also make it incredibly easy to use so that you can really analyze a property that's going through a transformational period. And we think we've done a really good job there.

That integrates with Rockport CORE which is the centralized system source of truth that you need to run your business. People ask can you use Rockport VAL or Rockport CORE independently of each other and the answer is absolutely. They're built to work together but you don't need to have both. At the end of the day, you need your data centralized in order to run a safe secure lending business and we let you do that and we let you focus your time on lending not on trying to build systems, which I can tell you is a thankless job.

Rockport VAL is the deep analytics around a transitional loan. Took a better part of six or seven years to build it out, but when you ask people today, I think they find that it's both powerful, but also very easy to use. We spent the last couple of years building out technology that allows you to integrate Excel with our central applications, which means that you can stay in Excel, stay with the models that you're used to, but also have them integrated with the system.

That way you can choose whether you want to use our analytics, be it VAL or our models, or your own proprietary model that you've used for the last ten years. Today, there's really two types of underwriters. There are the underwriters that love Excel, love the proprietary models they've had for the last ten years, and don't want to change that, and we enable that through our integrated Excel. Others love the new, fast, powerful sizzle of web-based underwriting and we handle that through Rockport VAL.

So, bridge and transitional lending, it's really important for a management team to have a really good view of the data on all their loans in real-time, both before doing them, but then also as they season over time and centralize all your data and keep it up to the minute. Absolutely. We grew up supporting the CMBS and CDO industries and so after you do all your origination, we also allow you to generate tapes for CDO issuance. Rockport can generate all the accounting and securitization tapes that you need coming out of your bridge and transitional lending.

One thing you got to realize is there's fundamentally economies of scale in SaaS, which is when we build a platform, we build it for our two hundred clients. As a result, we can invest far more into the platform to make it really strong than any individual person who's trying to build a system for themselves. If you don't have a system today, it's really important to ask yourself whether your business would be better with one or not. And the nice thing with our integrated Excel technology is we can let you switch with very little change.

Traditionally, people don't go to systems because they say “Oh, this is going to be too hard. There's going to be too much change. My people won't do that.” We break down those barriers and make it easier. People often ask about switching systems from an internal system, which makes a ton of sense because the cost to keep an internal system running is probably twenty times the cost of SaaS. We specialize in helping people go from internal legacy-built systems and onto our platform.

So we have a whole team that does that professionally day in and day out and we make it very easy for you. We serve everyone literally from the one-person shop all the way up to Fannie Mae, where we help be their system of record for their call it half a trillion dollars. So we like all kinds. We like the big enterprise because we think we add a ton of value there, but we also believe in providing that same tooling all the way down to the sole proprietor.