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Class Valuation acquires AMC Valuation Connect

Housing Wire

Troy, Michigan-based appraisal management company (AMC) Class Valuation announced on Wednesday that it has acquired fellow AMC Valuation Connect , formerly a subsidiary of mortgage technology company Mortgage Connect LP. Class Valuation has been on an acquisition spree. Terms of the deal were not disclosed. “We metro markets.

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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

Department of Housing and Urban Development (HUD) in July—filed a lawsuit against the lender, appraiser Maksym Mykhailyna and his company, Maverick Appraisal Group , and the appraisal management company Solidifi U.S. And the Detroit-based lender believes it’s a “massive overreach.” ” On Monday, the U.S.

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Here’s how brokerage valuation works

Housing Wire

Valuation in the residential brokerage industry has some characteristics that are unique when compared to other industries and businesses. Given these characteristics and others, brokerage valuations are subject to what I call a, “What have you done for me lately?” As such, valuations have indeed been suppressed.

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Ascent Developer Solutions launches to serve construction loan needs

Housing Wire

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

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Clear Capital launches APIs to make adopting modern valuations solutions easier 

Housing Wire

Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .

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Appraiser at center of Rocket Mortgage lawsuit has license revoked

Housing Wire

Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) back in June over an allegedly biased valuation of a home in Denver. In addition to the revocation of his license, Mykhailyna must pay a total fine of $97,500. Mykhailyna was the appraiser at the center of legal action by the U.S.

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iBuyer Offerpad goes public at $2.7B valuation

Housing Wire

At an assumed $10 per share, that gets you about a $3 billion valuation.”. That money will go “invest in technology and product development, to pay transaction expenses and for other general corporate purposes including the repayment of indebtedness,” the company announced. valuation appeared first on HousingWire.

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