McLean, Va.-based First Guaranty Mortgage Corp. (FGMC) has announced that it will centralize its appraisal and valuation operations under the guidance of Rockville, Md.-based Coester Vendor Management Services (Coester VMS).
Under the agreement, FGMC will use the national appraisal management company to manage and operate its appraisal services in all of its channels. Coester VMS will work with FGMC to establish uniform and efficient processes in those channels, and will coordinate by way of centralized software. The system also includes extensive quality control monitoring mechanisms. Coester VMS is licensed in all states requiring appraisal licensing, and has a presence in all 50 states.Â
‘We've seen time and time again that a lender willing to put the investment into its appraisal system reaps an excellent return and sees significant improvement,’ says Brian C. Coester, CEO of Coester VMS.
‘Working with Coester VMS will allow us to improve the speed, efficiency and quality of our valuation services,’ says FGMC Chief Executive Officer Andrew Peters. ‘More importantly, the software platform used by Coester will bolster our compliance efforts.’