New division to focus on private lending as outdated systems strain appraisal industry
Class Valuation has acquired Appraisal Nation, a North Carolina-based appraisal management company with a focus on private lending.
The move gives Class Valuation a stronger foothold in a segment of the mortgage industry that has been growing rapidly and also consolidates the company’s position in the broader appraisal market.
Appraisal Nation will continue operating within its area of specialty, serving private lenders, while gaining access to Class Valuation’s national platform, technology, and valuation network. The companies said the deal will expand service capacity and improve operational efficiency.
The acquisition includes the launch of a new private lending division, which will be led by Appraisal Nation founder Michael Tedesco. Tedesco is expected to oversee growth in the sector while integrating with Class Valuation’s broader platform.
“Doing what’s best for our clients has always been a cornerstone of our mission, and joining Class Valuation is a natural step forward in expanding our ability to elevate service standards across the appraisal industry,” Tedesco said in a press release. “As technology evolves and private markets become more institutionalized, service providers must do more than simply support their clients. They must help them adapt.”
The deal comes as the appraisal sector continues to face structural challenges, including a declining number of appraisers and widespread inefficiencies in how appraisals are performed. Class Valuation says the process is no longer viable in its traditional form.
Read more: Class Valuation reveals secret weapon against appraisal bottlenecks
“The current process is super outdated. It’s super messy and super manual, and there is minimal technology involved,” said Tim Staudenmaier, chief digital officer at Class Valuation, in a previous interview with Mortgage Professional America.
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