Reverse mortgage appraisal management company Landmark Network is continuing an expansion east from its Sherman Oaks, Calif.-based headquarters, today announcing the acquisition of Mahwah, New Jersey AMC Hamilton Appraisal Management Services (HAMS).
The acquisition will allow Landmark to bolster its East Coast presence, which currently includes operations in Boston and Maine.
“We are excited to bring the HAMS operation into the fold at Landmark Network,” said Erik Richard, CEO. “Along with our Maine operation center and Boston sales office, this adds to our existing presence on the East Coast, and will allow us to expand our national coverage and strengthen our appraiser panel in key states in order to continue to better serve our clients.”
HAMS’ management team will continue to operate in its existing location under the Landmark Network brand.
HAMS launched in 2010 under the leadership of Chris Lamparillo, and has grown in light of increased regulatory pressures on the appraisal industry.
“We were fortunate to be able to enter this space and grow our business as quickly as we have over the past few years,” Lamparillo said. “But with growing regulations, compliance costs and client demands, we felt the best move for us would be to join a larger, more established company with a national reach, and broader valuation product offerings, such as Landmark Network.”
New orders will be processed under the Landmark umbrella as of Friday, December 14. Terms of the deal were not disclosed.
Written by Elizabeth Ecker