First American Mortgage snaps up valuation veteran Forsythe Appraisals
'Complements and expands valuation capabilities'
First American Mortgage Solutions, a subsidiary of First American Financial Corporation, acquired Forsythe Appraisals, supplementing its existing valuation capabilities.
Forsythe Appraisals is one of the largest independent residential appraisal company in the United States and offers real estate valuation solutions with nationwide coverage.
HousingWire June 2015 magazine issue featured Forsythe Appraisals to give advice to the industry on how to succeed in the mortgage business for 50 years or more.
Here’s a clip from the piece:
The company covers more than 50 metro markets and is the largest independent residential real estate appraisal company in the country. But the core values that Al Forsythe established at the beginning are still guiding the company 75 years later. When Al Forsythe started his business in Minneapolis, Minnesota, in 1940, the country was working its way out of the Depression, with a wary eye on the war escalating in Europe. The average yearly wage was $1,524 and the median home value in the U.S. was $2,938.
Under the acquisition, Forsythe’s management team, including President and CEO John Forsythe, Senior Director of Customer Development Tim Forsythe and Chief Appraiser Alan Hummel, will continue to lead those operations.
“Joining the First American family strengthens our ability to provide our customers with continually improving valuation products and services in today’s changing business and regulatory landscape. The Forsythe team will now have access to First American’s industry-leading property data, as well, further enhancing the quality, accuracy and speed of our appraisals,” said John Forsythe.
As a result, First American Mortgage Solutions can now offer lenders an integrated valuation solution that provides access to staff appraisers nationwide through Forsythe Appraisals.
Additionally, the new valuation offering includes software solutions from ACI, fraud detection, loan quality and compliance analytics, expanding First American Mortgage Solutions’ end-to-end offerings.
“We are delighted to have Forsythe Appraisals join the First American family. With more than 75 years of appraisal expertise and a loyal, blue-chip client base, the addition of Forsythe Appraisals accelerates our efforts to help lenders and appraisers deliver a defect-free mortgage, while providing a superior consumer experience,” said Kevin Wall, president of First American Mortgage Solutions.
Forsythe Appraisals was also featured in the October 2015 magazine issue of HousingWire thanks to its innovation in technology.
“One of our core values is having an environment that not only allows for the testing of new ideas and technologies, but really encourages novel thinking and innovation. Our model is a great fit for appraisers who want to appraise, not focus on sales, IT, compliance, audits, staffing, and other things associated with being in business for yourself,” said John Forsythe in the piece.