ValuTrac Software has announced that it continued to experience rapid adoption of its industry leading, fully-customizable appraisal management technology during the first quarter of 2013. During the quarter, revenue increased over 110 percent, compared to the first quarter of 2012. ValuTrac is expecting continued growth throughout 2013, and is projecting its customer base to more than double over the next nine months.
In 2012, ValuTrac established a leadership position in the appraisal management technology space, doubling its customer base, which includes appraisal management companies, banks, credit unions, and mortgage lenders. Today, through its customer base, over 3,000 businesses are relying on ValuTrac for appraisal management.
“The mortgage lending industry needs, and lenders are demanding, a compliant appraisal management solution to minimize business risk. ValuTrac’s fully-customizable appraisal management system is delivering that solution to both the residential and commercial markets,” said Clint Cornett, CEO of ValuTrac. “Our system is the gold-standard of the appraisal management industry and is designed to provide the specific structure around the regulatory requirements of Dodd-Frank, the Interagency Guidelines, and the Appraiser Independence requirements. In addition, it allows clients to adjust their appraisal workflow and processes as required for their specific business.”
ValuTrac’s solutions help to mitigate risk and enhance the cost structure related to the appraisal process as well as significantly improve accounting processes, appraiser vendor management, regulatory guidance, and sales support for all of our clients.