Axis Appraisal Management Solutions, a national appraisal management company, announced it has entered into a letter of intent with Zaio Corp., a provider of appraisal reports from appraisers across the country, in which Zaio would acquire Axis.
The agreement is subject to due diligence to be completed by April 15.
“Axis’ leadership team will remain intact and continue to manage appraisal operations with the same level of unparalleled quality and customer service its industry partners have come to expect,” said Kim Perotti, executive vice president of Axis. “The Axis client base has grown dramatically to include the largest lenders and servicers, and one benefit of this transaction will be Axis’ ability to provide a deeper suite of services and products to those clients, including home inspections, evaluations, AVMs and BPOs — all through enhanced technology.”
“Collaborative evaluations diversify the types of opportunities for our elite panel of appraisers and afford a high standard of valuation products at various price points for our growing client base,” said Michael Simmons, senior vice president of Axis. “With these additional tools, we will now be in position to expand our footprint to a broader spectrum of clients. This transaction will open an exciting new chapter for Axis, Zaio and its additional subsidiary, Valuation Vision.”
“Axis has been a long-time partner of Zaio and is a leading appraisal management company in the United States. With the industry’s highest quality appraiser panel and consistently excellent customer satisfaction scores, Axis operates on a national scale and provides Zaio with a broader product offering into the regulated appraisal market and operating licenses across the United States. Upon closing of this acquisition, Axis would become a subsidiary of Zaio and continue to function as it has, but with greater resources, technology and systems to support its base of appraisers and clients,” said Dave King, president and chief executive officer of Zaio. “The net result is a nationwide network of over 5,000 of the highest quality appraisers, 100,000 realtors and highly skilled and knowledgeable staff and management, all powered by proprietary technology from Zaio and Valuation Vision. Our network will operate out of San Rafael, Calif., Tempe, Ariz., and Carlsbad, Calif., with additional sales personnel in Dallas, Chicago and New York, representing a truly national entity with deep and experienced leadership and management.”