The HomeVestors of America, Inc. Legal Department has been recognized by Texas Lawyer in its 2017 Litigation and Legal Departments of the Year awards. The “We Buy Ugly Houses®” company has been named one of the Legal Departments of the Year, ranking first for Growth in the annual statewide ranking.
Texas Lawyer selected corporate legal departments from Texas-based companies that stand out in five categories of achievement based on actual success stories. HomeVestors® legal department answered questions provided by Texas Lawyer to demonstrate firsthand how they handle the challenges of compliance while the company experiences explosive growth, all while making an impact in the residential real estate investing industry.
“We are honored to have been selected from so many amazing nominees in Texas to grace the top of this year’s list,” said Bonnie DePasse, Vice President and General Counsel for HomeVestors of America, Inc. “The last year has been busy for us as we’ve sustained record growth as a company, reaching 838 franchises in 45 states. Our team of two lawyers, two paralegals, an auditor and a collection specialist have expertly kept pace with the company’s remarkable growth and speed, managing a wide array of legal issues, and making our nimble legal department instrumental to that growth and success.”
In addition to managing the company’s rapid growth, HomeVestors also marked its 20th anniversary in 2016, a milestone and celebration DePasse helped spearhead. Additionally, her department helped shepherd the sale of the company to a private equity firm in early 2017. HomeVestors began franchising two decades ago in 1996, and recently purchased its 75,000th house. Through its individually owned and operated franchises, the original “We Buy Ugly Houses®” company purchases approximately 8,000 homes each year.
“The real estate market is cyclical,” added DePasse. “In 2012, we had only 192 franchises after the mortgage crisis. Today, we have 838, which has been made possible by a prosperous real estate market, aging population, and aging housing market. By being organized and responsible with our business practices, we have been able to help our brand grow while also helping our franchisees change communities and neighborhoods for the better.”
HomeVestors of America is featured in the August issue of Texas Lawyer, available now. Texas Lawyer connects more than 16,300 members of the Lone Star legal community. It is the only independent institution dedicated solely to covering the Texas legal market through its monthly magazine Texas Lawyer, its online daily edition Texaslawyer.com, as well as other publications, guides, directories, books and e-newsletters.