Kirchmeyer & Associates, Inc., made waves with the announcement that it added a new program for collateral valuation insurance in line with a new partnership.
In a statement, the national real estate company said that it facilitated the program by partnering with Group9 Insurance Solutions.
""Addressing risk mitigation concerns is a priority for us and by starting with a quality and accurate appraisal, we consistently deliver a quality valuation from the
beginning of the loan cycle to the end with this protection program for our clients,"" James Kirchmeyer, president of Kirchmeyer & Associates, said in a statement.
""Rebuilding the mortgage industry's confidence is paramount in today's market, and having a plan in place enables the industry to thrive,"" he added. ""With Group9 Insurance Solutions we can deliver solid protection. It's more than just insurance with a mortgage transaction, it's reassurance.""
The company said that the program will shield financial institutions against financial losses in matters where collateral value exceeds the collateral value of the original value. It is underwritten by insurers working with Group9.
""We are excited about the partnership with Kirchmeyer & Associates,"" Christopher Ulsh, president of Group9 Insurance Solutions, also said in the statement. ""We greatly appreciate the privilege to combine our comprehensive and highly rated appraisal insurance solution with such a quality and long standing organization such as Kirchmeyer & Associates.""
In operation since 1994, Kirchmeyer & Associates is an appraisal firm located in New York.