LRES, a national REO and appraisal management company, today announced it has acquired InsideValuation, a provider of commercial and residential evaluations.
Through this acquisition, the Reno, Nev.-based InsideValuation brings to LRES its hybrid commercial and residential interagency-compliant evaluations, which are preformed by the company’s network of more than 25,000 field agents. These appraisal products can now be produced under LRES’s AMC licenses with jurisdictions in all 50 U.S. states and complying with state regulations.
The acquisition of InsideValuation will further enhance LRES’s product offerings and client base, the Orange, Calif.-based company stated in a release issued Wednesday.
“We are excited that InsideValuation is joining our team at LRES as we continue to expand our markets,” said LRES Founder and CEO Roger Beane in a written statement. “We know this acquisition will strengthen our mission at LRES and offer expanded service offerings to various business channels to our valued customers.”
In addition, InsideValuation customers now have access to LRES’s technology solutions through the trademarked LRES DirectConnect Integration Hub, which optimizes and accelerates the valuation ordering process.
LRES is a national value-add solutions partner offering REO and appraisal services, as well as HOA and technology solutions for the mortgage and real estate industries, reverse mortgages included.
The acquisition is a “win-win” for both companies, as InsideValuation’s commercial valuation experts will strengthen LRES’s commercial unit and LRES’s diverse product line will enhance InsideValuation’s overall product offerings, said Susan Chauncy, CEO of InsideValuation.
“InsideValuation looks forward to becoming a part of the LRES family,” Chauncy said in a written statement. “We are pleased with the match of out company cultures, which will ensure that our clients continue to receive the high level of service that they have grown to expect.”
The acquisition became official March 31, 2016.
Written by Jason Oliva