LTVtrade teams with LienStream, LLC to create an open and transparent tax lien trading marketplace
NEW YORK, April 4, 2013 /PRNewswire/ -- LTVtrade® announced today that it has licensed its cutting edge technology to LienStream™, LLC for the development of an open, transparent, and accessible marketplace for the trading of tax liens,tax deeds and REO acquired through the tax foreclosure process.
"LTVtrade was created to focus on residential mortgage assets but our technology platform and sales methodology apply to nearly any opaque and illiquid asset class," stated Dean DiCarlo, President and Founder of LTVtrade. "As we watch regulatory reform in the US housing finance industry proceed at a snail's pace, we are going to be aggressive about licensing the LTVtrade technology to operators in other assets classes."
Tax liens are short term, low risk, moderate to high yield, well-collateralized debt receivables. In 28 states, Washington DC and Puerto Rico, liens can be sold to private investors and estimates for the market size range from $15-20 billion annually. As austerity programs unfold in communities across the country the need to monetize every tax lien becomes critical and the LTVtrade platform will answer that need.
Howard C. Liggett, founder of Distressed Real Estate Consulting Services Inc., will lead LienStream's market rollout and oversee continued development. Mr. Liggett has 36 years of experience in the tax lien marketplace and is a former CEO of the National Tax Lien Association. A resident of Florida, he was appointed by the Jeb Bush administration in 2003 to serve upon the Florida Department of Revenue's Property Tax Administration Task Force. Mr. Liggett is a sought after consultant and servicer on the topic of real estate tax liens as alternative investments for institutional investors and hedge fund managers.
"Unfortunately, there have been some questionable practices surrounding the buying and selling of tax liens in the primary market -- while the secondary market for tax liens remains underdeveloped," stated Mr. Liggett. "I believe the tax lien sector is more than ready for the kind of transparency, true professionalism, integrity and mature leadership that LienStream, LLC will bring into the mix – for the benefit of buyers and sellers alike," added Mr. Liggett.
The LienStream platform will charge a success fee of 1-2% on each trade conducted over the marketplace and it will be open to accredited individual investors, family offices, hedge funds, townships, counties and municipal governments. Lien buyers or sellers interested in the LienStream marketplace can register their interest at www.lienstream.com.
About LTVtrade: LTVtrade® seeks to alter the business of residential whole loan mortgage and residential REO trading through the LTVtrade Marketplace -- an open, accessible, and transparent, secondary market platform which focuses on meeting the needs of the largest and smallest financial institutions, small local funds and savvy accredited investors. For additional information on LTVtrade, please visit www.ltvtrade.com.
About Distressed Real Estate Consulting Services, Inc.: Founded in 2007 by Howard C. Liggett, Distressed Real Estate Consulting Services, Inc. is engaged in the business of providing complete end-to-end or turnkey servicing functions to institutional investors, hedge funds, and family offices that have selected real estate tax certificates as alternative investments. For additional information please visit the company website www.drecsinc.com.