CURRENT ENGAGEMENTS

Federal Deposit Insurance Corporation
VRG is currently directing a public-private sector partnership with the FDIC consisting of a portfolio of non-performing judgments, deficiencies and charge-offs. Of the 29 collection partnerships formed by the RTC/FDIC over the past decade VRG is ranked #1 by the FDIC in performance.

The Export-Import Bank of the United States
VRG is also a Managing Member of Global Recovery Group, LLC, which handles all claims management and recovery work for The Export-Import Bank of the United States related to under $20 million claims excluding long-term guarantees.

U. S. Dept of Housing and Urban Development/OMHAR
In late 2002, VRG began its sub-contract with RER Solutions who is the prime contractor for HUD/OMHAR to service its nationwide portfolio of second mortgage loans on multi-family properties and to perform as its post-closing portfolio manager. The goal is to protect HUD's and FHA's loan interests, helping to ensure the continuity of each multi-family project.

Ohio Attorney General
The Ohio Attorney General’s Office (the “OAG”) is the repository of archived debt which is comprised of unpaid claims and taxes owed to the State Treasury on behalf of 130 state agencies. These are distressed receivables and are between four and forty years old and have been deemed uncollectable. VRH is one of three contractors who collect upon this multi-billion dollar portfolio on behalf of the OAG.

VRH has created protocols for collection, settlement, litigation and closure of these files, establishing standards of diligent review. VRH’s skill and patience in pursuing all possible avenues of collection services provide not only higher than expected recoveries, but also the added value of providing the OAG with final and complete resolution of all related archive debt.

Our collection and compromise methodologies and approaches are exemplary. Given this current activity with the state of Ohio, VRH is one of less than 20 approved GSA contractors that currently are active in the collection of state personal, corporate and other forms of income tax.

Central Ohio Community Improvement Corporation
Brownfield development

VRG, along with the help of other partner operations, has created an organization dedicated to the revitalization and redevelopment of areas known as “brownfields.” This business unit is geared to clean up abandoned industrial properties, landfills, railfields and waste disposal sites. The brownfields are then transformed into productive real estate, which not only offers new development opportunities, but also addresses major environmental concerns.

Many target properties, either municipality owned or abandoned, and have since been reclaimed by the local government. VRG works with partnering companies to clean up these properties according to EPA regulations and make them “shovel-ready.” The properties are then sold with high standards for development and construction design to protect the workplace investment. The local governments, and any companies invested in the clean-up process, receive profits from the ultimate dispositions.

VRG is proud to serve as Land Manager for the Central Ohio Community Improvement Corporation and has currently aided in the current redevelopment of a former brownfield in Central Ohio. This unique business campus, is Central Park of Gahanna.