Class Valuation, a real estate collateral valuation and appraisal management company, has acquired Janus Valuation & Compliance.
The deal is the second AMC acquisition the Michigan-based 2019 Tech100 winner has made in the last six months and one of several big steps the company has taken since it was acquired by Narrow Gauge Capital in March 2018.
In December, Class announced its acquisition of reverse mortgage-focused AMC Landmark Network in a bid to grow its niche offerings.
Now, it has snatched up Janus, an 11-year old Texas-based AMC that focuses on retail, credit union and correspondent lenders in Texas and in surrounding markets.
Class said Janus’ founder, John Passero, will join Class as regional COO, focusing on partnerships with appraisers and institutions in the Southwest and Rocky Mountain regions.
This latest acquisition is just one of a number of major moves the company has made as of late.
In December, it changed its name from Class Appraisal to Class Valuation, which it said better described an expanded focus that includes “new and disruptive” collateral valuation products.
Then a week later, it named former Accenture executive and Mortgage Cadence Co-founder Michael Detwiler to the role of CEO to help spearhead the company’s new mission to enhance its services through cutting-edge tech solutions.
And last month, the company made strides toward this goal, announcing its investment in a tech company called InsideMaps to bring digital imaging and 3D mapping to the home appraisal process.
And it appears more expansion is on the horizon. Class said it plans to pursue other acquisitions as part of its growth strategy to expand its geographic reach and technical capabilities.
“On a national level, Class Valuation has always been committed to providing the highest levels of customer service. Janus has done the same on a regional level. With the mortgage and valuation industry seeing major changes, we must align with companies that share our same core values,” Detwiler said.
“Through this partnership, we will continue to provide top service while building sustainable technology solutions for thoughtful change,” he continued. “We are stronger together, and Janus is the right partner to cultivate our philosophy in the markets they serve.”
