Industry News

EAppraiseIT buys Network Appraisal Services

Expands appraiser network management, compliance capabilities

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Real estate valuation company eAppraiseIT has acquired Network Appraisal Services of Kalamazoo, Mich., the company said in an announcement today. Terms of the transaction were not disclosed. NAS manages appraiser networks for national and regional lenders and develops online services and products that help lenders systematically comply with requirements mandated by the Office of the Comptroller of the Currency designed to prevent directed appraisals. "NAS expands the range of services that we are able to deliver to the lending community," said Anthony Merlo, president of eAppraiseIT. "It allows us to better serve retail-focused lenders who maintain their own networks of appraisers, and it will also help our other clients implement safeguards that help remove bias from the appraiser selection process." The NAS management team will remain with the company, which will continue to operate under the Network Appraisal Services name as independent subsidiary of eAppraiseIT. "Under the dire...