The REO disposition firm ""Vendor Resource Management"":http://www.vrmco.com (VRM) officially marked the opening of its new corporate headquarters in the Dallas suburb of Carrollton, Texas, with a ribbon cutting ceremony Tuesday morning.
The festivities drew a crowd of clients, friends, special guests, and local dignitaries, and displayed all the fanfare and genuine excitement that should accompany such a celebration.[IMAGE] _(pictured: Carrollton Mayor Ronald Branson, VRM President and CEO Keith Murray, and Greg Vaughn of the Metrocrest Chamber of Commerce cut the ribbon for the new VRM corporate headquarters.)_
VRM started with the vision of president and CEO Keith Murray and just five employees in 2006. It's weathered one of the most severe housing downturns in a generation and has grown to more than 350 employees across the country, managing over 11,500 properties each month for the government-sponsored enterprises, Fannie Mae and Freddie Mac, and a host of corporate sellers nationwide, including all of the top private lenders in the United States.
The foundation, the driver, and the ultimate prize of the company's success Ã¢â‚¬" putting homes back into the hands of American families.
""The fact that a home has been associated with an REO has nothing to do with its place in the community,"" Murray told the crowd gathered outside the front doors of VRM's new office facility. ""We're not selling REOs, we're creating homeownership opportunities for families across the country.""[COLUMN_BREAK]
VRM's rapid growth over the last five years led it to its new 85,000 square-foot corporate home in Carrollton's International Business Park. The company decided to physically expand its operation after receiving a $750,000 Texas Enterprise Fund Grant.
VRM exceeded the grant's conditions of producing 275 jobs in North Texas and an estimated $4.6 million in investment capital in the area. The company moves into its new corporate headquarters with 339 team members housed there locally.
VRM also has staff at a second location in Pomona, California, where its sister company ""PCV Murcor"":http://www.pcvmurcor.com/ is headquartered. PCV Murcor provides collateral valuations for the real estate industry, and just last month ""celebrated its 30th year"":http://dsnews.comarticles/pcv-murcor-celebrates-30-years-2011-02-28 in business.
""When PCV anticipated the looming housing crisis, we created VRM to help corporate sellers manage their growing inventory of foreclosed homes,"" explained Murray, who also founded PCV Murcor and serves as its president and CEO.
Murray says one of the first questions he posed to that inaugural VRM staff was: Ã¢â‚¬Å“How do you feel about changing the world?Ã¢â‚¬Â
Through its commitment to bringing stability to communities, VRM itself has touched about 500,000 households, Murray says. Add to that the companyÃ¢â‚¬â„¢s work with industry partners in the REO and asset management space, and the company has been involved in providing homeownership to more than 1 million families.
Ã¢â‚¬Å“Impacting one million lives sure sounds like changing the world to me,Ã¢â‚¬Â Murray said.
Speaking at Tuesday's ribbon cutting, Carrollton Mayor Ronald Branson said, Ã¢â‚¬Å“It is with great pleasure that I get the opportunity to welcome Mr. Keith MurrayÃ¢â‚¬Â¦and his prestigious company to the City of Carrollton family of outstanding companies and businesses. Mr. MurrayÃ¢â‚¬â„¢s vision and record of success represent what is obtainable through hard work and intelligent management, even in challenging economic times.Ã¢â‚¬Â