Comprehensive M&A data with integrated detailed company information
Stewart snaps up United States Appraisals
Posted on Friday, 05 June 2020 11:57
Stewart Information Services has acquired US-based appraisal management company United States Appraisals.
No financial details were announced.
The deal will enhance Stewart’s existing title insurance, settlement, and valuation operations for consumer banks, lenders and other mortgage industry partners.
Formed in 2008, United States Appraisals provides assessment services for customers across the US.
Its offerings span the first mortgage and home equity segments, among others, and include residential property reports, rental forms and field reviews.
The company’s desktop valuation software use averages based on price per square to provide analysis for real estate property, while considering factors such as location, physical condition and other elements.
United States Appraisals’ platform can examine over 2,000 specific data points and helps to resolve problems, including lagging unresponsiveness and poor visibility into the appraisal process by key stakeholders.
It also automatically identifies potential risks and delivers accurate results, even during high loan volumes.
Based in Kansas, the target operates across all 50 states.
Fred Eppinger, chief executive of the buyer, said: “This acquisition shows our commitment to investing in Stewart by expanding our existing valuation service offerings, allowing us to serve our entire customer base better, propel additional growth and enable appraisal process innovation and modernisation.”
Established in 1893, the acquiror is a global real estate company.
Stewart provides a range of products and services through its Stewart Trusted Providers network, including underwriting, title insurance, lender and escrow operations.
During the quarter ended 31st March 2020, the group generated revenue of USD 439.90 million, up 10.4 per cent from USD 398.50 million in the corresponding period of 2019.
There have been 1,383 deals targeting companies in the real estate sector announced globally in 2020 to date, according to Zephyr, the M&A database published by Bureau van Dijk.
In the largest of these, Simon Property Group agreed to acquire US-based Taubman Centers for USD 8.12 billion.
© Zephus Ltd