CARROLLTON, Texas, March 8, 2012 (GLOBE NEWSWIRE) -- Vendor Resource Management, Inc., ("VRM") a full service, nationwide asset management company today announced that it has completed its Service Organization Control ("SOC") attestation engagement, commonly referred to as a SOC 1 engagement. The SOC 1 engagement was conducted by a nationally recognized independent auditing firm pursuant to Statement on Standards for Attestation Engagements ("SSAE") No. 16, Reporting on Controls at a Service Organization ("SSAE 16") issued by the American Institute of Certified Public Accountants ("AICPA"). In June 2011, SSAE 16 replaced the AICPA's Statement on Auditing Standards No. 70, Service Organizations, ("SAS 70") with required reporting being applicable to service organizations for periods ending on or after June 15, 2011.
VRM's SSAE 16 Type II report covers the period of June 1, 2011 to November 30, 2011. As an SSAE 16 compliant company, VRM has demonstrated its firm commitment to providing its customers with asset management services that are subject to the highest standards in processing, controls and procedures.
In making the announcement, VRM's President and Chief Executive Officer, Keith D. Murray, said, "As a corporate best practice, we continually review our control environment and evaluate our risk assessment processes. Our management team views this on-going commitment very seriously. Augmenting our oversight efforts with an SSAE 16 attestation process provides assurance to our clients that our organization's control activities are subject to an in-depth evaluation and that VRM adheres to its established controls."
About Vendor Resource Management, Inc.
VRM is the leading national REO Asset Management and Loss Mitigation Company specializing in reducing marketing time while maximizing loan recovery. An affiliate of PCV Murcor Real Estate Services, a respected, nationwide provider of collateral valuations, property appraisals and broker price opinions since 1981, VRM provides expert asset management and offers corporate sellers full service REO processing from its Carrollton, Texas headquarters. A recognized leader in the industry since 2006, VRM has assisted in the marketing and management of over 350,000 REO asset dispositions and was the 2011 recipient of four Pinnacle Awards, including Best Overall Outsourcer. VRM recently introduced its newest product, VRM Commercial Real Estate Services, which is designed to provide valuation, due diligence, transactional, property management and other related services to the commercial real estate sector. VRM is changing the face of the REO industry through its commitment to delivering vision, experience, "Best in Class" customer service and proven performance.
For more information about VRM, visit www.vrmco.com
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