Zaio Corporation announced that ValVets Appraisal Management, a proposed division of Zaio, has been awarded a prime task order blanket purchase agreement by a federal agency that maintains more than 1 million loans, to provide a turnkey nationwide appraisal and related technical support.
“We are thrilled for Andrew and his team for announcing a contract of this magnitude in the short time he’s agreed to be a part of the Zaio team,” Zaio Corporation CEO Shane Copeland said in the news release. “While we always knew Andrew would become a strong foundation of our team, he has already exceeded our expectations. With an additional $6 million in revenue, and access to a group that manages over 1 million loans, we are well on our way to building a very strong base of revenue that will allow us to start working towards profitability in the future.”
The contract is expected to generate approximately $12 million dollars over its three-year life, with $6 million committed for 2017. This program will aim to reduce costs associated with servicing defaulted customers, streamline processes and improve vendor reporting to the default management branch.
“We welcome the opportunity to work alongside this established organization that has a longstanding commitment to providing low and moderate income applicants the opportunity to obtain single-family housing, among other services. This resonates deeply with our firm, which was founded on the principals of service and commitment to our fellow citizens and service men and women,” ValVets President Andrew Belt said. “This purchase provides the agency with the most advanced and proven delivery mechanisms for affordable, quality and timely appraisals.”