Class Valuation, a nationwide provider of real estate asset valuation and appraisal management solutions to the residential mortgage industry, has acquired Van Nuys, California-based Landmark Network, a leader in real estate valuation with a specialization in the reverse mortgage lending industry.
“As we continue to execute our innovation strategy, we will take great interest in those firms that excel in service and reputation in markets we believe in,” said Class Valuation’s CEO, Michael Detwiler. “With an impressive list of clients, including a meaningful percentage of the industry’s top reverse mortgage lenders, Landmark has done a fantastic job delivering quality, service, and reverse valuation products backed by innovative technology. That’s the kind of specialization and expertise we’re seeking as we continue to expand our footprint.”
Landmark Network launched with the vision of providing financial services companies with a superior solution for their appraisal management and technology needs. Since inception, they have worked to ensure their clients have an unmatched customer service experience. This vision fits in-line with Class Valuation’s commitment to service and technology that is shaping the future of the valuation space, so more borrowers can realize their American dream.
“We were very impressed with the strategic plan that Class Valuation presented and look forward to growing together – both organically and through acquisition,” Erik Richard, former CEO of Landmark – now COO of Class Valuation’s Western Region – said. “I’m pleased that the team at Class understands the intrinsic value of customer relationships and service as well as the reverse mortgage market and values we bring to the company. There is no doubt that this market will continue to grow and that lenders will require our services.”
Class Valuation was assisted by Berkery Noyes in the successful completion of this transaction. No sale price was disclosed.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.