ZAIO CORPORATION AWARDED CONTRACT TO PERFORM VALUATION SERVICES FOR U.S. GOVERNMENT ASSET SALES
Zaio Corp.’s (ZAO.V) U.S. subsidiary, Valuation Vision Inc., has been contracted to perform valuation services for U.S.-government-housing-agency-backed delinquent asset sales. The company will be rendering services related to pricing of non-performing loans on a quarterly basis through the use of its BPO suite of products. Initial orders are currently in the process of being filled and future orders are expected in waves of high volume batches.
“Zaio Corporation is pleased that Valuation Vision has been selected to perform ongoing valuations for these large residential asset portfolios,” said Shane Copeland, CEO of Zaio Corporation. “This opportunity has excellent potential for recurring revenue over the next several quarters as the U.S. Government continues to divest itself of non-performing assets. This contract continues to cement our belief here at Zaio that the Valuation Vision software is truly unique and is well on its way to becoming an ingrained staple in the real estate appraisal industry.”
While U.S. agencies have not disclosed the total number of residential properties still available for sale, over 77,000 non-performing assets have been sold since 2010. Government regulatory agencies continue to indicate ongoing divestment of non-performing assets per Congressional mandate.
“It’s a testament to the credibility and reliability of our valuation solutions that we’ve been selected as the core provider of asset valuation for these pools,” said Ernie Durbin, Chief Valuation Officer, Valuation Vision. “In addition to a significant revenue opportunity, our innovative products and solutions will gain critical exposure to leading investment firms participating in this asset purchase.”