Class Valuation has promoted President John Fraas to CEOI to lead the company’s continued growth through world-class customer service and industry-leading innovation, the company announced in a press release.
Mike Detwiler, the company’s former CEO, moves to executive chairman.
Detwiler and Fraas have worked together to hire key leadership to take the business to the next level.
“John Fraas has focused on driving operational efficiencies and improving customer service over the past two years and has proven his ability to lead organizational change while the company has experienced tremendous growth,” Detwiler said in the release. “We have been tremendously thoughtful in our investments in people, technology and processes.
“I am confident there is no better person to continue to lead our innovation and growth initiatives than John Fraas – and he will do so while retaining focus on the service model that has enabled us to become an industry leader,” Detwiler added.
The company also said in its release that with technology and people investments, Class Valuation continues to partner with clients to bring about valuation modernization.
“During my two years at Class Valuation, it’s been tremendously rewarding to work with an exceptional group of people to drive the company’s growth and position it for the future,” Fraas said. “With the groundwork laid, I am excited to take Class Valuation forward, setting our sights on growth through service while transforming the appraisal space as we know it.”
Class Valuation is a top nationwide appraisal management and real estate collateral valuation company serving the residential mortgage industry.