National valuations and asset management company LRES acquired residential real estate appraisal management company (AMC) Lenders Choice, the company announced Wednesday. Lenders Choice providers valuation services specifically for the mortgage industry.
Recently, Orange County, Calif.-based LRES partnered with origination service provider Bay Docs, LLC to help reverse mortgage professionals streamline the loan process.
Tulsa, Okla.-based Lenders Choice specializes in completion of appraisals through its communications technology and software platform, expanding growth opportunities for LRES which maintains nationwide compliance.
Through this acquisition, Lenders Choice is now fully incorporated under LRES’ AMC licenses, gaining the ability to conduct business within all 50 U.S. states and jurisdictions.
Lenders Choice customers are also exposed to LRES’ technology tools, including easier systems connectivity and bulk upload capabilities through its DirectConnect Integration Hub, which is currently integrated with two loan origination systems and five loan service platforms.
The acquisition enhances Lenders Choice’s current infrastructure with the ability to handle more volume, an LRES executive said in a statement.
“We are pleased to welcome Lenders Choice into the LRES family and merge our best-of-breed solutions to enhance service levels for our customers,” said Roger Beane, LRES founder and CEO. “The acquisition aligns with the strategic vision of LRES as we continue to expand our national reach.”
The acquisition became official on Jan. 1, 2015.
Written by Cassandra Dowell
