Review of Real Matters Inc.

FEB 20, 2024 - REAL operates in the real estate appraisal and title service industry in North America, the company plays an essential role in the value chain of the real estate market by helping mortgage lenders reduce the risk of lending and meet regulatory requirements. REAL is currently in a cyclical downturn, despite the effort to control costs and maintain a healthy balance sheet, revenue recovery was highly uncertain. The recent operating results indicate that the path to recovery could be longer than expected. We are downgrading our ratings by one notch to “B-”.