San Diego, Calif.-based appraisal management company AppraiserLoft is shutting down, numerous trade publications report. The company notified employees of the decision late last week, Reverse Mortgage Daily reported this week.
A phone message at the company states that AppraiserLoft is no longer accepting new orders and is directing clients to contact the company's help-desk e-mail address with any questions about their accounts. The company's Twitter feed and LinkedIn profile have been deactivated.
The Reverse Mortgage Daily report says the company folded after failing to find a purchaser for its platform.
The development comes after a series of high-profile departures at the firm. In early August, AppraiserLoft announced that CEO Aman Makkar was stepping down and that Shane Copeland, a sales executive there, would succeed him as interim CEO.
A month later, valuations provider Kirchmeyer & Associates named Copeland to the post of vice president of national sales and announced Michele Chochrek, AppraiserLoft's former vice president of national sales, as a national account executive.