Mortgage Daily Logo

AMC Acquisitions, Partnerships and Expansions

Appraisal

In the valuation industry, an appraisal management company has been acquired, while several AMCs have partnered to create a bigger firm. Other AMCs have enhanced their offerings.

The biggest news of the day is CoreLogic Inc.’s announcement Tuesday that it has reached an agreement to acquire Mercury Network from Serent Capital.

Irvine, California-based CoreLogic noted that it has already acquired a 45 percent passive minority stake in Mercury and plans to purchase the remaining portion this year.

Oklahoma City-based Mercury provides software that it utilized by 800 small and mid-sized mortgage lenders and appraisal management companies.

A white paper from LRES entitled Effective Communication with Lenders to Alleviate Problems Caused by Appraisal Shortages addresses how a lender’s relationship with real estate service providers will be impacted by the severe appraisal shortages.

“The appraisal industry is currently suffering as it works to overcome challenges that are preventing new professionals from entering into the business, and the entire lending cycle is suffering delays as a result,” LRES founder and Chief Executive Officer Roger Beane said in the statement. “This white paper outlines ways to overcome these challenges and how effective communication greatly mitigates the risk of losing business.”

A partnership was formed earlier this year between five AMCs to create Valucentric LLC. The company provides a full range of valuation services in 15 states and the District of Columbia. Existing clients of the partners won’t have to make any changes in order to do business with the partnership.

Valucentric’s founding partners are The Trice Group, Real Valuation Services, Chicago Appraisal Center, JSG Real Estate Services and Global Real Property Solutions. The addition of partners in more states is currently in the works.

A recent announcement from Dart Appraisal indicated that its new Value Report provides an on-demand valuation, risk assessment and market data for a single property or entire portfolios. It provides the property’s sales history and ranks the home against the 10-closest comparables. It also gives the lender an understanding of the local market and a three-year value forecast.

Dart created the report in collaboration with HouseCanary
in order to address lender demand for more accurate, streamlined valuation products.

A news release Tuesday indicated that Ditech Financial LLC has approved Troy, Michigan-based Dart as an AMC.

Pendo recently announced the launch of an automated Uniform Standards of Professional Appraisal Practice Standard 3 compliance tool. The AMC said the tool allows an appraiser to view the original appraisal,review form and supporting market data all in one view. It also tracks the number of appraisals completed in each state and provides an alert when it is time to complete more reviews to meet state AMC requirements.

Lee Summit, Missouri-based Pendo
additionally developed an appraiser recruiting tool to find, track and engage appraisers for traditionally difficult assignments involving unique properties and properties in high-demand or sparsely populated areas.

Appraisal management software provider InHouseUSA has selected ACI Sky for appraisal delivery and review, a recent statement said.

Related Posts

How Are My Property Taxes Calculated and How Do I Pay

How Are My Property Taxes Calculated and How Do I Pay

Homeownership comes with lots of new expenses and increased fees, like homeowner’s and title insurance, pricier utility bills, and property taxes. Even if you’re prepared for higher bills, it’s important to know exactly how much they’ll spike up. Especially when it...

Understanding Your Home Inspection Report

Understanding Your Home Inspection Report

How to read a home inspection report? A home inspection report, especially on an older home can be quite extensive. It usually carefully designed to be clear, easy to understand and helpful to the buyer. The home inspection report is an overview of conditions...

Benefits of a Home Appraisal

Benefits of a Home Appraisal

A home appraisal inspection is not the same as a home inspection. The home appraisal inspector works for the bank that will be lending you the money to purchase your new home. The main reason an inspection is required is that the bank wants to ensure that the money...

What Does a Home Inspector Do?

What Does a Home Inspector Do?

A home inspection report is very different from a home appraisal inspection. Inexperienced real estate salespeople sometimes do not understand the difference. Although real estate professionals that have worked in the mortgage industry and decide to shift into sales,...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam