Nationwide Appraisal Services is expanding into the U.S., entering the $1.3 trillion mortgage marketplace through the acquisition of the majority interest in InHouse, a national appraisal management company and appraisal management software company.
InHouse was founded in 2002 and is currently based in Ponte Vedra, Florida, and Huntington Beach, California.
This continues the company's strategy of acquiring local AMCs that provide client and service synergies, including the recent acquisition of Lynwood, Washington based Appraisal Management Solutions.
Under the acquisition, NAS will now have access to InHouse’s core appraisal management product Connexions, a cloud-based customizable appraisal management software solution and administration panel.
Connexions permits lenders to work with a limitless number of AMCs, appraisal companies, their own trusted panel of appraisers and any QC vendor in the marketplace.
NAS operates across Canada, in 17 countries in the Caribbean and has recently launched in Mexico with a Spanish platform. Now it is officially entering the United States, following its goal to expand NAS into markets where it can leverage its 20-year valuation and risk-management expertise.
"NAS has provided Canadian financial institutions and the broader lending community with comprehensive solutions to navigate the appraisal and risk management processes through our best-in-class suite of tools and data analytics," said Tom McCormick, founder and CEO of NAS, who will become the chairman of InHouse.
Jennifer Creech, president and CEO of InHouse, commented, "Having NAS as our partners will provide InHouse with the resources, infrastructure and the ability to offer our current and future customers the unrivaled expertise that can only come with 20 years’ experience in the appraisal industry.