National appraisal management company Class Valuation has appointed experienced technology professional Kaushal Shah as its new chief technology officer (CTO) in its latest move associated with the expansion of its various pilot programs across the country. The news of the appointment was first reported at Mortgage Professional America (MPA).
Shah reportedly has over 25 years of experience in the information technology (IT) space, including for product development and education teams in industries including banking, brokerages and securities. His most recent experience includes a 5-year stint at secure messaging services company Swift, first as its head of application programming interfaces (APIs) and then as its head of engineering.
Prior to joining Swift in 2016, Shah served in several technology roles at telecommunications giant Verizon overseeing diverse product lines including its point-of-sale systems on up through serving as its director of digital engagement and ecommerce.
“At Class, we’ve been focused on leveraging data and technology to bring the appraisal space into the future for quite a while,” said Class Valuation CEO John Fraas to MPA. “With Kaushal’s leadership and experience in advanced technologies and building high-functioning teams, we’re really able to bolster our team to a new level.”
For Shah himself, he relates excitement about the company’s plans and the role he will be able to play in facilitating them.
“What excited me most were the conversations with Class and Gridiron Leadership during the interview process. I could sense the energy, enthusiasm and a commitment to an honest attempt to push the boundaries and lead the AMC space with great focus on technology and data,” Shah said to MPA. “I feel there is unlimited opportunity to improve and expand the current set of products and solutions, especially with a renewed focus on data integration.”
Class Valuation has been making more visible moves in recent months to facilitate an expansion of its footprint across the country. This past spring, the company – which includes reverse mortgage appraisal services as a part of its full product suite – was acquired by Connecticut-based investment firm Gridiron Capital, in a deal for which terms were not disclosed. Gridiron made the acquisition from the previous majority owner of the AMC, Boston, Mass.-based Narrow Gauge Capital. As a part of the deal, Narrow Gauge will remain now as a minority owner in Class, according to an announcement of the deal.
This past summer, Class itself acquired Greenville, S.C.-based AMC SouthEastern Evaluation (SEE) in an effort to increase the company’s market share for AMC services in the southeastern United States. SEE serves more than 150 customers including mortgage lenders, community banks and credit unions, using its network of professional appraisers to serve a customer base spread across 20 states. The company’s immediate business focus is centered on the states of South Carolina, North Carolina, Virginia and other neighboring states within the region, according to an announcement of the acquisition.
Read the story of Shah’s hiring at MPA.
