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Message: Zaio wins $12M contract from U.S. federal agency

Zaio wins $12M contract from U.S. federal agency

2016-09-20 16:59 ET - News Release

Mr. Shane Copeland reports

VALVETS APPRAISAL MANAGEMENT, A PROPOSED ZAIO COMPANY, AWARDED NATIONWIDE APPRAISAL CONTRACT WITH U.S. FEDERAL AGENCY

Zaio Corp. has provided the following update. ValVets Appraisal Management, a proposed division of Zaio, has been awarded a prime task order blanket purchase agreement by a non-government-sponsored-entity federal agency that maintains over one million loans to provide a turnkey nationwide appraisal and related technical support. The contract is expected to generate approximately $12-million over the three-year life of the contract, with $6-million committed for 2017. As part of a continuing initiative by the agency to provide the highest and best use technologies and operational efficiency to the federal government and taxpayer, this three-year program will aim to reduce costs associated with servicing defaulted customers, streamline processes and improve vendor reporting to the default management branch.

"We are thrilled for Andrew and his team for announcing a contract of this magnitude in the short time he's agreed to be a part of the Zaio team," offered Shane Copeland, chief executive officer of Zaio. "While we always knew Andrew would become a strong foundation of our team, he has already exceeded our expectations. With an additional $6-million in revenue, and access to a group that manages over one million loans, we are well on our way to building a very strong base of revenue that will allow us to start working towards profitability in the future."

"We welcome the opportunity to work alongside this established organization who has a long-standing commitment to providing low- and moderate-income applicants the opportunity to obtain single-family housing, among other services. This resonates deeply with our firm, which was founded on the principles of service and commitment to our fellow citizens and service men and women," said Andrew Belt, president of Valued Veterans. "This purchase provides the agency with the most advanced and proven delivery mechanisms for affordable, quality and timely appraisals."

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