Vendor Management Association Closes Doors
|November 5, 2013|
Pittsburgh-based Title Appraisal Vendor Management Association (TAVMA) announced on its website that it was ceasing operations.
Thanking all the companies that supported the association, TAVMA attributed the closure to the financial crisis and industry consolidation.
“Like most mortgage industry trade associations, TAVMA's membership was hard-hit by the 2008 housing bust and subsequent economic malaise, leading many firms to curtail their financial support to one or a few key organizations,” TAVMA said on its website. “TAVMA was further adversely affected by consolidation of competitors in the settlement services industry, which began in the early 2000s, and continues today.
The announcement said the organization maintains its 501(c)(6)non-profit status, continues to review strategic options and may decide to return in the future in a new configuration.
ALTA, meanwhile, has reported record membership each of the past four years. Membership now stands at nearly 5,000 member companies, growing by more than 1,000 members in 2013.