VRM Mortgage Services has announced that it has listed, managed and sold more than 500,000 real estate-owned (REO) properties since the company was founded eight years ago. According to company officials, the volume is more than any other asset management outsourcer over the same period and a result of the company’s emphasis on supporting local communities and preserving property values.
Founded in 2006, VRM Mortgage Services is the largest provider of complete, end-to-end asset management services in the mortgage industry. Considering the average U.S. household is two people or more, it is likely that VRM Mortgage Services has helped provide homeownership opportunities for more than one million people since the company began.
"While we’re proud of this major milestone in the company’s history, we’re even prouder of the positive impact we’ve had in neighborhoods across the country,” said Keith D. Murray, founder, president and CEO of VRM Mortgage Services. "For every property we manage, we are helping our clients manage risk and loss severity, hiring local vendors, preserving property values, and injecting business and life back into local communities.”
Murray attributed the milestone of selling 500,000 properties—which represent more than $50 billion in asset transactions—to the experience of the company’s staff, its dedication to clients and vendors and its industry-leading proprietary technology. The combination has enabled the company to manage and sell a large number of properties quickly, efficiently and with the highest compliance standards.
“Since launching VRM Mortgage Services, I have seen many outsourcers enter the REO business because they saw an attractive market opportunity,” Murray added. “Yet when it came to expertise, technology and commitment to service, we’ve been unmatched. Not only did we place our clients’ needs before anything else, we were able to execute.”
Founded in 2006, VRM Mortgage Services provides REO asset management and other services for lenders, servicers, investors and government agencies. Early in the company’s history, it became the primary asset management vendor for Freddie Mac and later for Fannie Mae, building a list of clients based on its track record of performance and trust. The company has added rental management, property preservation, inspections, title and closing and other services to provide a more complete asset lifecycle solution. VRM Mortgage Services has been recognized by the marketplace as a recipient of four HousingWire Pinnacle Awards, including “Best Overall Outsourcer.”
Said Murray: “VRM Mortgage Services was founded on the premise that to successfully manage real estate assets, we had to act with honesty, integrity, and provide excellent service at all times, no matter what. These core values went beyond business execution; they guided our strategy about the importance of improving the communities we serve. These tenets drove our business then, and still do today.”