LRES, a national appraisal and REO management company, experienced 58% revenue increase in the first half of 2015, which surpassed the level of growth for the same period last year.
The company predicts a revenue growth of 40% for the 2015 Fiscal Year over 2014, mostly due to its recent acquisition of formerly Tulsa, Okla.-based Lenders Choice, a residential real estate appraisal management company.
“Our successful first half of 2015 has set the stage for continued growth in 2016 as we aim to strengthen our solid team of professionals, increase technology enhancements, improve internal processes and acquire additional companies within the mortgage industry that complement our set goals and objectives,” said Roger Beane, CEO of LRES.
The company hopes to continue to expand and is seeking additional acquisition targets that may include AMCs, trustee companies, title and escrow companies and other associated service providers.
Additionally, LRES added several associates to its executive team, including three vice presidents of sales and a vice president of finance/controller.
LRES also made some technological changes and fully integrated with Platinum Data Solutions RealView using LRES DirectConnect, an integration framework that enables third-party systems to integrate into the LRES LINK order management platform to accelerate the appraisal order processing.