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Valocity's 2004 Milestones Position the Company for Success in 2005; Record Growth and Changes Throughout the YearMEMPHIS, Tenn. --(Business Wire)-- Feb. 7, 2005 -- Valocity, the nation's fastest growing valuation solutions provider, announced record company growth for 2004 and noted the year's milestones. The company has implemented several changes during the last year, including the addition of a new president and CEO, a company name change, a new headquarters, expanded nationwide appraisal coverage and recognition as a Business Tennessee Fast50 company. "I credit the company's growth and prosperity to the dedication and work ethics of our employees. Their commitment to providing both our lender and appraiser clients superior service makes Valocity a leader in the appraisal industry," said Shawn McGowan, president and CEO of Valocity. "We are pleased to have met and exceeded our company goals this year. We have made many enhancements to better Valocity, faced many changes, and we have managed to continue to grow and evolve. Our success this past year has surpassed my expectations, and as we continue to grow, we remain committed to providing efficient and focused solutions to the industry." Shawn McGowan, the new president and CEO for Valocity joined the company in January 2004 with more than 20 years of valuation experience in the fee and institutional marketplace, as well as significant appraisal management experience. With McGowan's experience and leadership skills, the company planned to expand and penetrate further into the marketplace. He has helped make Valocity a recognized name in the valuations and appraisal industry, through numerous improvements to the company. The first significant change McGowan made was the company name change. McGowan and the rest of the employees wanted the name to better reflect the company's strategic business goals and objectives and changed the name from Appraisal Forum to Valocity. This name more accurately defines Valocity's value to the appraisal and mortgage industry. "The company was founded on the premise that there was a great need for more efficiencies in the appraisal process," said Bethany Kaaz, co-founder and COO of Valocity. "The name Valocity represents value and speed, which encompasses our goals to provide superior valuations solutions nationwide. The name suits our company well and has served as the stepping stone for this year's successes." The company also relocated its corporate headquarters to Germantown, a suburb of Memphis. The new office has more than 26,500 square feet and has allowed Valocity to prosper and better serve its clients and personnel. With significant growth in the number of employees and clients, both lenders and appraisers, the new facility was imperative to support the company's growth. Its rapid expansion in the marketplace and Valocity's focus on providing service to both lenders and appraisers is key to its successes. "This has been an incredible year for Valocity," McGowan said. "We implemented a national expansion campaign in July that resulted in national coverage in all 50 states as well as redundant coverage in every Metropolitan Statistical Area (MSA). We are thrilled to have expanded our network of appraisers and lenders nationwide. It has really positioned Valocity as a premier technology and service provider for the industry." The sophisticated recruitment campaign included Valocity's appraiser liaisons whose focus was to identify and recruit qualified appraisers. With the recruitment of appraisers in all of the MSAs, Valocity now provides coverage in locations where more than 90 percent of all loans originated. As a result of all of the accomplishments and record growth Valocity has seen this year, the company was recognized as a Business Tennessee Fast50 company and was profiled in the December issue of Business Tennessee magazine. The award honors the state's fastest growing privately held companies and was based on a number of criteria including the company's product/service, revenue, business references and overall growth and vision. Valocity placed in the top 10 percent of the Fast50 companies for revenue growth. "We are so pleased with every success Valocity has reached in 2004," Kaaz said. "Since we were founded in 1998, we have experienced rapid growth, but this year has been one of our most triumphant with all of the changes we have gone through as a company. It has been the combination of everyone's hard work that has made this a winning year for the company." About Valocity Based in Memphis, Tenn., Valocity is a national valuation solutions provider. The company is committed to providing solutions that streamline the appraisal process from initial requests to final valuations. Founded in 1998, the company combines its comprehensive knowledge of the appraisal process with superior technology to offer its clients a truly paperless system for processing valuations. The company's flagship product, Instant Access(R), is a Web-based appraisal process and data storage system that enables clients to efficiently order, track, receive and store residential property information and valuation reports. For additional information about Valocity, contact Shawn McGowan at 901.624.3900 or e-mail [email protected]. Visit the company's Web site at www.valocity.com. |
