Reverse mortgage appraisal management company Landmark Reverse has acquired All Reverse Appraisals (ARA) with the intention of expanding the company’s national operations and gaining market share in the Federal Housing Administration appraisal management industry.
“The acquisition of All Reverse Appraisals continues to grow Landmark Reverse’s position as a premium reverse mortgage appraisal service provider,” said Erik Richard, chief operating officer of Landmark. “Landmark has been dedicated to the reverse market since inception and is always looking for opportunities to expand its capabilities and services.”
As of April 1, Los Angeles-based Landmark Reverse will begin transitioning ARA operations to Landmark’s Sherman Oaks, Calif. location. ARA customers will continue to receive service during the transition. Landmark will operate ARA under its brand for 60 days following April 1 to accommodate the transition, and which point all operations will be rolled up under the Landmark Reverse brand.
In addition to expanding the overall company operations, Landmark will introduce several new offerings to current ARA clients. One such offering, said Landmark, will be the ability to enroll in Appraisal Assurance™ and other Landmark programs.
“The transaction offers Landmark an opportunity to grow our customer base while establishing the Landmark brand in new markets,” Richard said. “Our appraisal management business model aims to provide quality appraisals with excellent customer service. ARA was a natural fit toward that goal.”
Written by Elizabeth Ecker