CRE Spoke. Rockport VAL Listened.

VAL has been created to revolutionize the CRE industry…

Company

Rockport VAL, LLC (“Rockport VAL”) is a customer- and industry-driven technology company that equips the fast-paced world of underwriting and valuation with a modern and reliable cash flow modeling tool. Leveraging a team with decades of expertise in commercial real estate and technology, VAL is built in response to the industry’s need for a technologically advanced platform that maximizes collaboration and ease of use while ensuring optimum security.

Rockport VAL is a majority-owned subsidiary of Rockport PA, LLC (“Rockport”). Rockport VAL maintains its own staff and management team and benefits from the infrastructure of its parent, Rockport. Rockport, founded over a decade ago by Rick Trepp, is the recognized industry standard provider of a SaaS solution for commercial mortgage loan origination, underwriting, securitization and asset management. Today the platform is widely used by banks, funds and life companies for the origination, securitization and asset management of performing and non-performing loans and REO.

Rockport VAL enjoys the benefit of having Moody’s Analytics, a subsidiary of Moody’s Corporation a global institution, as a minority investor in Rockport VAL and joint developer and licensor of VAL. Moody’s Analytics provides financial intelligence and analytical tools supporting their clients’ growth, efficiency and risk management objectives. The combination of Moody’s unparalleled expertise in risk, expansive information resources, and innovative application of technology helps today’s business leaders confidently navigate an evolving marketplace. Moody’s Analytics is recognized for its industry-leading solutions, comprising research, data, software and professional services, assembled to deliver a seamless customer experience.

  • The Rockport Group
  • Moodys Analytics

Executive Team

  • Rick Trepp

    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.
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    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 remained a board member and senior advisor to the company after its sale in 2004 to DMG Information until 2017. 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 2011 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 Collateralized Mortgage Obligation (CMO) Information Service in a joint venture with the Public Securities Association in 1986.

    Recognizing the need at the property level 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

    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.

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    Leo began his career in 1993 in BlackRock’s financial analytics group. He later ran technology for mortgage sales and trading at Greenwich Capital Markets and worked on a structured products team at Wachovia Capital Markets. Leo was most recently CTO at FirstKey Mortgage, where he managed residential and commercial lending technology.

    Leo earned an MBA and a bachelor’s degree in software engineering from the University of Connecticut and a master’s in computer science from Rensselaer Polytechnic Institute.

  • Brian Mascis

    Brian Mascis is the Chief Revenue Officer at Rockport VAL, LLC. Brian has over 20 years of commercial real estate transactional experience.

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    Prior to joining Rockport VAL in February 2018, Brian was a Managing Director and Head of CMBS Credit at Allegiant Real Estate Capital. He held the same role at FirstKey Lending. Prior to joining FirstKey in 2013, Brian was an Associate Director at Macquarie Investments US, a subsidiary of the Macquarie Group where he was responsible for the identification and evaluation of commercial real estate debt securities investments. Before joining Macquarie in 2010, Brian worked for the Ruben Companies, where he was responsible for sourcing and evaluating commercial real estate equity and debt investment opportunities in Boston, Washington D.C. and New York. Before joining the Ruben Companies in 2009, Brian worked at J.P. Morgan and Bear Stearns in the CRE Finance Group from 2004 to 2009, Westdeutsche ImmobilienBank from 2000 to 2004 and PricewaterhouseCoopers from 1997-2000.

    Brian graduated from Fairfield University in 1997 with a bachelor’s degree in Finance.

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