Stewart Appraisals Management Inc., a subsidiary of Stewart Information Services Corp., has acquired Pro-Teck Services, DBA Pro Teck Valuation Intelligence, for an undisclosed sum.
The acquisition strengthens and expands Stewart’s scale in appraisal and valuation solutions, the company says in a release.
Pro Teck is an industry leader in property valuation services. It has been in business for more than 40 years.
“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,” says Fred Eppinger, CEO of Stewart, in a release. “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’s breadth of services strengthens our ability to provide a great customer experience,” adds Aaron Fowler, senior vice president at Stewart. “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.”
Pro Teck provides customers with accurate and timely real estate information through a transparent process, exceeding industry standards in a complex regulatory environment.
Pro Teck’s Valuation Intelligence platform enables a single source of property valuations for mortgage originators, servicers and investors. Combining the best of market data and human insight, Pro Teck delivers a comprehensive suite of products including appraisals, desktop appraisals, BPOs, desktop reviews, AVMs, data/analytics and hybrid solutions.
“We are very excited to become part of the Stewart family,” says Tom O’Grady, CEO of Pro Teck Valuation Intelligence. “Stewart’s commitment to building their appraisal and valuation capabilities into a dominant market leader was attractive to us. 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.”
In June, Stewart acquired United States Appraisals, a move that strengthened its offerings in mortgage originations.
By adding Pro Teck’s expertise in capital markets and servicing, and additional scale in origination appraisals, Stewart has solidified itself as a national leader in title insurance, settlement services, appraisal/valuation, and other real estate services for lenders, consumer banks, servicers, investors and other mortgage industry partners.