In response to the housing market's increasing demand for appraisal management companies (AMCs) and the growth of its own client base, California-based valuations firm LRES [1] is expanding its sales division, the company announced.
As part of the expansion, LRES plans to nearly double the size of its sales force.
In addition, to help ensure a seamless client onboarding process, LRES has developed a new initiative: the LRES 360 Program, which involves taking a more strategic focus within the first 360 hours after a new client comes on board. During that time, the company's sales and client relations division works heavily with its operations and management divisions to track all new appraisal orders and ensure they are processed and placed in time.
The program also includes a follow-up with vendors to ensure they're fulfilling their duties and an hourly check-in with operations to ensure all deadlines are met and orders are delivered.
"Now that the mortgage market is in a healthier state, more small- to medium-sized lenders are seeking AMCs to create efficiencies within the appraisal process and maintain compliance and proper due diligence of appraisal staff and state and federal regulations," said LRES COO Paul Abbamonto. "Our extended sales force will help deliver a smoother onboarding process to mitigate risk associated with today's demanding regulatory environment."