Boxwood's principal and co-founder, Randy Fuchs, discussed small commercial property and loan market trends at two recent conferences. He presented a market overview during the first-ever Small Balance Lending session at the JMP Annual Financial Services and Real Estate Conference in New York City on June 22. Randy then shared the podium with noted industry economists and delivered a presentation on market trends during the kickoff session of the Small Balance and Portfolio Lending Summit by the Mortgage Bankers Association in Dallas on June 29.Fuchs to Join Crittenden Conference Panel
Boxwood's principal and co-founder Randy Fuchs will join an expert panel for the Small Balance Lending session on Thursday, April 27 at the Weston South Coast Plaza in Costa Mesa, CA. Randy will share his firm's latest research on small balance commercial lending and market trends. Attendees can pick up research publications and learn about Boxwood's full suite of property valuation products at the firm's exhibit table.White Paper Is Released on Use of Commercial Evaluations by Banks
Commercial banks are under-utilizing evaluations according to a White Paper jointly written by Boxwood's Randy Fuchs and George Mann, MAI, SRA, AI-GRS. The authors argue that status quo appraisal practices and some misinterpretation of the Interagency Appraisal and Evaluation Guidelines among bankers have resulted in suboptimal use of evaluations. Conservative use, in turn, has deterred sizable opportunities for real-world cost savings especially for subsequent transactions.Boxwood's User Survey Reports High Satisfaction
Users of Boxwood's FieldSmart commercial evaluation services reported high levels of satisfaction and concrete benefits in the firm's inaugural client survey conducted in January. As the infographic illustrates, over 80% of respondents were very satisfied with Boxwood's evaluation services, and 75% considered FieldSmart reports to be an excellent value. Equally important, clients have gained tangible rewards by outsourcing evaluation reports to Boxwood as a majority of clients claimed savings in appraisal costs among other benefits.
Since introducing these valuation services in 2013, Boxwood now supports over 150 commercial banks and nonbank lenders with a variety of commercial evaluation and appraisal reports available on its client-service web site, SmallBalance.com.
Boxwood Means, LLC, a leading provider of property valuations and data analytics in the U.S. small-cap commercial real estate market, is pleased to announce that it is pledging a percentage of its SmallBalance.com revenues to environmental causes.
Boxwood is committed to the efforts of nonprofits to protect and sustain the earth for future generations. Climate change is a particular concern because of its damaging effects on the environment and communities throughout the world.
As a result, the firm is pledging $1.00 to environmental causes from every property valuation order received from clients on SmallBalance.com.
SmallBalance.com is Boxwood's online platform where over 150 commercial banks, nonbank lenders, mortgage brokers and investors order evaluations and appraisals of small commercial real estate properties nationwide. Clients use Boxwood's property valuations for originating loans, as well as for loan extensions and renewals, credit reviews and portfolio monitoring.
"Our firm was founded 13 years ago and, as a team, we're extremely proud to be in a position to support this environmental giving program," said Randy Fuchs, a Boxwood principal and co-founder. "Naturally our commitment to delivering high-quality service to clients remains our top priority, but this initiative adds new meaning to the work we do."
Boxwood has selected 10 "blue-chip" organizations for donations on an equitable basis including The Nature Conservancy, Friends of the Earth, Environmental Defense Fund, Natural Resource Defense Council and the Rainforest Alliance, among others. Donations will be made on a continual basis throughout the year.
"We all feel a responsibility for giving back," said David Colonna, Boxwood's sales director. "And we trust that our clients will appreciate the modest role and responsibility that we've undertaken in support of sustaining the globe for future generations."Boxwood Releases New SBL Market Reports
Boxwood introduced its Small Balance Origination Briefs this August to offer clients an edge in the competitive small balance loan space. The Briefs provide baseline data and analytics that help senior executives and lending officers evaluate and grow their loan business by better targeting high-volume markets, developing reasonable loan production forecasts and benchmarking their market share versus the competition among other benefits.
Available in 37 states and updated on a quarterly basis, the reports present the proprietary market research in informative graphs, tables and bullet-point narrative.
Read more about our new Briefs and see a sample report on this SmallBalance.com page.SmallBalance.com FieldSmart Orders Grow by 40% YOY
Boxwood recently announced record-high growth in commercial evaluation orders. With the trust and continued support of 100+ lender clients, orders for the firm's flagship FieldSmart commercial evaluations increased by more than 40% year over year during June. Similarly, orders are up over 30% at mid-year compared with the same period during 2015.
Our technology-enhanced and scalable SmallBalance.com platform enables us to integrate new business smoothly and without any degradation to service performance. In fact, the operating platform coupled with our client-focused, in-house appraisal and analyst staff help make this substantial growth sustainable over time.
FieldSmart is available nationwide with either the sales comparison or combined sales-income approach to value along with options for various types of building inspections. These collateral valuation reports are routinely employed by commercial banks, non-banks and investor clients for originations, renewals and extensions, loan/portfolio reviews and acquisitions, and servicing.
For more information about FieldSmart or our other valuation products, visit SmallBalance.com.Boxwood Introduces Small Multifamily Price Index
Boxwood recently announced expanded sector coverage with its Small Multifamily Price Index. The firm's national Small Multifamily Price Index and accompanying 48 metropolitan-level indices enable lenders and investors for the first time to conveniently track price trends for smaller rental housing properties in U.S. markets valued under $5 million.
Boxwood's new multifamily price indices, along with the firm's well-established Small Commercial Price Indices for 128 metro areas, are updated on a monthly basis and include historical time series dating to 2006. Boxwood regularly publishes updates on national commercial and multifamily price trends in its monthly research publication, the Small Balance Advocate, as well as on the MarketBeat Notes page on SmallBalance.com.Boxwood Principal to Speak at Two Upcoming Conferences
Boxwood's principal and co-founder, Randy Fuchs, will be sharing his firm's latest research on the small commercial property and loan markets at EDR's PRISM 2016 Conference and also the Mortgage Bankers Association's Small Balance Lending Summit. The PRISM event that connects leaders in commercial real estate lending and property due diligence, is being held at the Hyatt Lost Pines Resort outside of Austin, TX between May 8-11.The MBA's inaugural conference on Small Balance Lending (SBL) will take place in Chicago on June 22-23. In the SBL break-out sessions at both conferences, Randy will be joined by some veteran small balance lenders.Boxwood Logs New Clients in January, Extending Record Year in 2015
Boxwood Means, LLC, a leading provider of collateral valuations and data analytics in the small commercial real estate property and loan markets, announced today that four new commercial lenders were added during January, extending the firm's growing roster of clients ordering property valuations on Boxwood's client-centered web site, SmallBalance.com. Boxwood signed up over 60 new client accounts during 2015, as community, regional and national banks, as well as non-bank lenders have embraced the firm's technology-enhanced platform and tools that promote order transparency, ease-of-use, prompt support and cost-effective fees.
Initially launched three years ago, SmallBalance.com today supports small balance commercial (SBC) lending operations with a full suite of valuation reports ranging from Streamline, a USPAP-compliant appraisal, to the FieldSmart line of compliant, commercial evaluations and Valpro, a commercial AVM. Clients also access proprietary data analytics and research on local small cap CRE price trends and SBC loan originations.
The SBC lending space is sizeable, evidenced by Boxwood's latest research indicating that small balance loan originations during 2015 drew near to the record total of $176 billion posted in 2013.
Randy Fuchs, a Boxwood principal and co-founder, suggested that "Growth in our client base underscores that our SmallBalance.com platform has emerged as an innovative, dependable and disruptive force that re-balances traditional lender costs and benefits of SBC loan origination as well as credit reviews and portfolio management." Fuchs added, "Our tight focus on the SBC space ensures that we will further develop and refine our toolkit so that clients can depend on us even more closely for collateral and market analysis through the entire real estate market cycle."
Boxwood Means, LLC, a leading provider of asset valuations, research and data analytics for lenders and investors in the small commercial property and loan markets, recently announced the launch of Streamline, the firm's latest CRE property valuation product.
The Streamline Appraisal report represents Boxwood's first-ever, USPAP- and FIRREA-compliant appraisal and complements the firm's industry-leading FieldSmart product line of commercial evaluations. All of Boxwood's valuation products are tailored for the small balance commercial market that exceeds $160 billion in annual loan originations. The new report product, which is initially available in 30 states and can be ordered on the firm's web site, SmallBalance.com, is a technology-enhanced and abbreviated appraisal that leverages Boxwood's proprietary small cap CRE data and analytics as well as its highly-automated operations platform from which the Streamline name is derived. The highly efficient, scalable platform maximizes Boxwood's capabilities to produce appraisal reports in a timely and cost-effective manner for clients without sacrificing the quality of the content.
Randy Fuchs, a Boxwood principal and co-founder, indicated that "The Streamline product is a natural progression from our very successful FieldSmart reports to a full appraisal that delivers on the same promise of innovation, dependability and sharp focus on small cap collateral and the local market." Fuchs added, "Since costs of third-party reports like appraisals are typically high relative to the modest-sized proceeds of small balance loans, we expect that Streamline will find strong appeal among commercial lenders in our space that are trying to thread the needle with a high-quality commercial property valuation that also contains borrower costs."Boxwood to Participate in Upcoming Crittenden Real Estate Conference
Boxwood's principal and co-founder Randy Fuchs will join an expert panel at the Crittenden Real Estate Finance conference September 16-18, 2015 to discuss the latest conditions and outlook for the small balance commercial lending market. The Small Balance Lending session convenes at 2:30 PM on September 17. Boxwood will also have an exhibit space where attendees can learn about the Streamline Appraisal, the firm's new, abbreviated USPAP-compliant valuation report geared for lenders and investors in the small cap CRE space.Staff Promotions at Boxwood Means
In light of the company's continuing growth this year (2015), Boxwood announced the following staff promotions:
Boxwood recently received a private investment that is paving the way for the firm's expansion of valuation and research services in the small commercial property market. Among other uses, the expansion capital is underwriting the scheduled roll out this summer of Streamline, Boxwood's technology-driven and first-ever USPAP- and FIRREA-compliant appraisal. In addition, the firm has hired several staff including: Thomas Mullins, a licensed appraiser with 30 years of valuation experience who will support FieldSmart and Streamline valuation operations; and two senior sales directors, Patrick Kennedy and Jason Dolce, veteran account managers each with 15+ years of environmental and CRE sales management experience.Boxwood Principal to Reprise at Crittenden National Conference
Randy Fuchs, Boxwood principal and co-founder is returning to the Crittenden National Conference at the Omni Hotel in San Diego on April 28-30, 2015, and will offer his insights on the small commercial property and loan markets during the panel session on Small Balance Lending. He joins expert panelists from Hunt Mortgage Group, Symetra, Sabal Financial Group and BMC Capital.
Boxwood Means, Inc. announced today the release of its FieldSmart Collateral Advisor report with the income approach to property valuation. FieldSmart Sales and Income, or FieldSmart SI, represents a new industry standard for income and expense analysis within commercial evaluations.
Boxwood's FieldSmart reports are widely recognized by commercial banks, non-bank lenders and investors as a reliable, fast and cost effective alternative to appraisals when valuing small commercial real estate properties. FieldSmart has proven to be the commercial evaluation product of choice whenever industry participants require high-quality reports with rich content and consistently reliable results across the country. Now, FieldSmart SI sets a high and timely benchmark for commercial evaluations involving the income capitalization method because of its detailed and disciplined analysis.
"In a small-cap CRE investment market still populated today with a lot of impaired or distressed income-producing properties, it's imperative that commercial evaluation reports nail down the transition costs between a building's stabilized condition and its "as is" value," said Will Harrison, Boxwood's director of FieldSmart valuations.
Boxwood also announced today that its FieldSmart reports are available with the option of an Insurable Replacement Cost (IRC). All such reports are obtained on the firm's SmallBalance.com web site.
Randy Fuchs, Boxwood's principal and co-founder, added, "FieldSmart SI and the IRC option reflect our deep understanding of and expertise with small-cap CRE collateral and markets. These new reports extend our product leadership largely because our clients recognize that product quality matters, and they reward us for it."Return Engagement for Boxwood Principal at Upcoming Crittenden National Conference
Randy Fuchs, Boxwood principal and co-founder, will participate on the Small Balance Lending Trends panel at Crittenden's National Real Estate Conference scheduled for May 6-8, 2014 in San Diego. Randy will present Boxwood's latest proprietary research on small-balance originations activity, small-cap CRE property sales volume and price trends. He joins other distinguished panelists from Centerline Capital Group, C-111 Commercial Mortgage, BMC Capital and StanCorp Mortgage Investors.