Terms of the deal were not divulged.
Michael Ousley, former CEO of DVS, will join Pro Teck as executive vice president, business development.
DVS Direct enables a lender to manage the entire appraisal process in-house with minimal overhead or staffing. The platform provides automated assignment, tracking, QC and payment processing, all in one solution.
Pro Teck’s products will expand upon the origination appraisal services now available through DVS with home equity, servicing and secondary market valuation solutions, Pro Teck says in a release.
Tom O’Grady, CEO of Pro Teck, says the synergies between the two companies are “exciting, with Pro Teck providing additional products and services to DVS clients, and Pro Teck now being able to offer a cloud-based solution to lenders who manage their own appraiser panel.”
“Pro Teck has a similar service-oriented culture to ours, and we are excited about offering Pro Teck’s broader products to our clients,” adds Ousley. “Our teams are remaining the same, and we’ll still interact with our clients the same way.”