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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.