ANNAPOLIS, Md.--(Appraisal Logistics, the leading provider of appraisal compliance and management services, today announced strong performance results pointing to a successful year end, including a 78 percent year-to-date growth in the US over fiscal year 2011. This increased market share, combined with customer growth and new product offerings, contribute to the company’s success and momentum leading into 2013.)--
“We are watching banks and mortgage lenders take steps to minimize cost and maximize efficiency, leading some to an outsourced model of appraisal compliance management, and some to take advantage of internal compliance management software, such as Appraisal Logistics’ proprietary management platform, AIM-Port.”
“In this new era of financial lending, there is a demand for financial services that guarantee compliance with the latest regulatory requirements and a means by which lenders can improve their profits,” said Frank Danna, president and CEO for Appraisal Logistics. “We are watching banks and mortgage lenders take steps to minimize cost and maximize efficiency, leading some to an outsourced model of appraisal compliance management, and some to take advantage of internal compliance management software, such as Appraisal Logistics’ proprietary management platform, AIM-Port.”
Appraisal Logistics is anticipating approximately 50 percent overall growth in 2013 over 2012, based on its current pipeline. The team attributes this to the increasing demand for a compliant, efficient solution in a highly scrutinized regulatory environment created by the passing of the Dodd-Frank legislation, as well as additional regulatory agencies such as the CFPB.
Danna continued, “With the inception of the HVCC and the introduction of Appraiser Independence Requirements in Dodd-Frank, the mortgage lending industry needs a viable solution to managing this ever changing target of compliance.”
The summer 2012 launch of the company’s proprietary operating platform, AIM-Port, has offered an additional revenue stream for 2013 as the company prepares to offer the technology to clients interested in managing their compliance internally. Projected sales for the technology arm of the organization are estimated to be in excess of $1 million for 2013. Lenders will be able to opt in for this technology in order to manage AIR requirements internally. Essentially a hybrid solution, a second option will be to combine AIM-Port with Appraisal Logistics’ expert oversight to help manage lender’s internal department with a menu of services available a la carte.
About Appraisal Logistics
Appraisal Logistics is the leading provider in compliance risk management for appraisal independence. With a team of industry experts and a nationwide network of highly qualified and trusted appraisers, Appraisal Logistics provides immediate and exceptional service to regional and community banks and standalone mortgage originators to ensure each appraisal is 100 percent compliant in a customized, customer-focused environment. For more information, please visit www.gotoals.com or call (443) 949-7862.