Midwest Metro Honored at the Springfield Business Journal D12 Awards
08/04/2011
Midwest Metro Honored at the Springfield Business Journal D12 Awards
While the economic downturn has brought challenges for many businesses, it brought opportunities for growth to Midwest Metro.
The company, owned by Charles and Anne Nelson, works with mortgage holders to preserve and protect properties that are in foreclosure.
According to data from RealtyTrac’s 2010 U.S. Foreclosure Market Report, more than 3.8 million foreclosure filings – default notices, scheduled auctions and bank repossessions – were reported on a record 2.9 million U.S properties last year, up 2 percent from 2009 and 24 percent from 2008.
The report also found that 2.23 percent – or one out of every 45 – of all U.S. housing units received at least one foreclosure filing in 2010.
For Midwest Metro, the uptick in foreclosures resulted in an increase in client orders to nearly 60,000 in 2010, up from 42,000 in 2009, Vice President Charles Nelson says, for a client base that includes BAC Field Services, CoreLogic and MFI Field Services. The company posted 2010 revenues of $7.8 million, up 159 percent from 2008.
“In our business, growth can come from three ways: your existing clients provide work, you find new clients or you expand your coverage area for either new or existing clients,” Nelson says.
Read the entire article from Springfield Business Journal here.
