VAL is a customer-driven technology company, with an industry-driven solution that is set to equip the fast-paced world of underwriting and valuations with a modern and reliable tool.
When conducting due diligence for the best-in-class product buildout, the VAL team asked the CRE industry what they were missing in their current processes, and built a solution to meet those expressed needs. CRE professionals collectively communicated a need for an accessible-anywhere valuation/cash flow modeling tool that stores historical financials in a database for reporting, enables collaboration, archives models, and provides a single point of data input to eliminate the tedious task of re-keying financials.
The VAL team, with decades of expertise in structured commercial real estate and technology, and trusted names in innovation and information security, have come together to create the VAL cash flow modeling and valuation platform that responds to the industry’s needs with a technologically advanced platform that ensures optimum security.
Richard Trepp, a well-known and prominent authority in the field of structured finance, has been providing the Commercial Real Estate market with non-partisan expertise, software, data and analytics since 1979.
Rick is the Founder of Trepp, LLC, the recognized industry standard provider of information, analytics and technology to the CMBS, commercial real estate and banking markets, and has remained a board member and senior advisor to the company since its sale in 2004 to DMG Information. In 2002 Rick formed Rockport PA, LLC to provide a SaaS solution for commercial mortgage loan origination, underwriting, asset management and securitization.
Leveraging the product strength and market positioning of both Trepp, LLC and Rockport, in January 2013 Rick established a joint venture with Trepp, ‘TreppPort,’ a web-based lending, surveillance and asset management platform that enmeshes client internal portfolios with Trepp’s CMBS dataset, to manage CRE lending and investment activities; and identify and manage risk across their entire CRE exposure. Rick also created the first CMO Information Service in a joint venture with the Public Securities Association in 1986.
Recognizing the need for a cash flow analysis/valuation platform leveraging current technology, Rick formed ‘Rockport VAL’ in 2017. Rick holds an M.B.A. with honors from The Amos Tuck School at Dartmouth College and a B.A. from Dartmouth College.
Leo Budin is Rockport VAL’s CTO and Chief System Architect. Leo has over 20 years’ experience in Commercial Real Estate, structured finance and Residential Mortgage technology.
Leo began his career at BlackRock in the financial analytics group in 1993, and moved to sell-side, running technology for mortgage sales and trading at Greenwich Capital Markets in 1996. In early 2001, Leo joined Wachovia Capital Markets to support a newly created structured products team. Leo was most recently CTO at FirstKey Mortgage, managing residential and commercial lending technology.
Leo holds an undergraduate degree in Software Engineering from the University of Connecticut, a Master in Computer Science from Rensselaer Polytechnic Institute and a Master of Business Administration from the University of Connecticut.