Stewart Appraisals Management, which provides real estate services to mortgage industry partners, has acquired Pro Teck Valuation Intelligence to help to strengthen and expand its scale in appraisal and valuation solutions.
Stewart provides services such as title insurance, settlement services, appraisal, and valuation for lenders, consumer banks, servicers, investors, and other mortgage industry professionals.
Pro Teck has 40 years' experience in property valuation services and is known for its proprietary technology Valuation IntelligenceTM, a cloud-based fulfillment platform that provides residential real estate values and market information, as well as a SaaS solution to enable lenders to directly manage the appraisal process in-house. Valuation IntelligenceTM platform provides a single source of property valuations for mortgage originators, servicers, and investors.
“As we continue to invest in Stewart’s future, this acquisition adds innovative technology, data and analytics to our growing valuation businesses, critical for driving future business,” Stewart CEO Fred Eppinger said. “Pro Teck’s added scale and capabilities takes us one step closer to becoming the Premier Title Services Company, allowing us to increase our services for our customers.”
Pro Teck delivers a variety of services like appraisals, desktop appraisals, BPOs, desktop reviews, AVMs, data/analytics, and hybrid solutions.
“Pro Teck’s breadth of services strengthens our ability to provide a great customer experience,” Stewart’s SVP, Aaron Fowler, said. “Our team is excited to work with our new colleagues and eager to begin collaborating with the entire Pro Teck team as we build the premier player in our industry.”
Tom O’Grady, CEO of Pro Teck Valuation Intelligence, says he is looking forward to joining the Stewart family.
“Stewart’s commitment to building their appraisal and valuation capabilities into a dominant market leader was attractive to us,” O’Grady said. “With the strength of Stewart and the synergies with Stewart’s existing appraisal and valuation operations, we will be able to bring much greater value and competitive advantage to our clients.”
Stewart also acquired United States Appraisals in June to help strengthen its mortgage originations offerings.