National appraisal management company Class Valuation has acquired Landmark Network as of Friday, the companies have announced. Landmark, based in Van Nuys, California, has long been a leader in the reverse mortgage space through its real estate appraisal offerings, and Class identified the opportunity in Landmark based on its presence in the growing baby boomer market.
“As we continue to execute our innovation strategy, we will take great interest in those firms that excel in service and reputation in markets we believe in,” said Scot Rose, chief innovation officer for Detroit-based Class Valuation, in a press release. “Landmark is a leader in a market that we expect to grow as Baby Boomers look for options to carry them through retirement. In addition, the company has a strong leadership team and the proven ability to support niche products. That’s the kind of specialization and expertise we’re seeking as we continue to expand our footprint.”
Founded in 2007, Landmark has grown its customer base to include a wide range of reverse mortgage organizations as well as a technology presence.
Landmark Network launched with the vision of serving an appraisal management and technology function for its clients. The company’s focus on customer service fit Class Valuation’s vision for the valuation space, the companies said.
“We were very impressed with the strategic plan that Class Valuation presented and have faith in our ability to grow together – both organically and through acquisition,” CEO of Landmark, Erik Richard, said. “I’m pleased that the team at Class Valuation understands the intrinsic value of customer relationship and service as well as the reverse mortgage market and customer-centric values we bring to the company. There is no doubt that this market will continue to grow and that lenders working here will require our services.”
Written by Elizabeth Ecker