Class Valuation appointed Michael Detwiler, former senior managing director at Accenture and co-founder of Mortgage Cadence, to the position of company CEO, and as an equity partner, the company announced in a release.
Detwiler, as head of Accenture Software and its North American mortgage software and outsourcing business, also acquired Prime Alliance in 2012, and grew the resulting business into a North American leader in the loan origination space.
“I’ve known Mike for over 10 years. He is one of the strongest leaders working in business today,” said Adam Doctoroff, partner at Narrow Gauge Capital – the private equity firm that led the acquisition of Class in March 2018 –in the release. “I’ve always been impressed with his entrepreneurial vision, his ability to see solutions to problems using technology, and his understanding of the factors that drive the mortgage industry forward.”
Detwiler said he was drawn to the company’s unwavering commitment to customer service and world-class innovation.
“Class is an industry-leading appraisal management company experiencing significant growth with a strong, experienced senior leadership team,” he said. “We have an incredible opportunity in the collateral valuation space. Class is in an ideal position to lead the evolution in a sector that is poised for major change by positively impacting the borrower, their lender, the appraiser and the experience they share.
“This is the moment for a company that truly understands customer service to institutionalize the valuation experience throughout the ecosystem with true innovation and hard work,” Detwiler added.
Detwiler plans to drive the company’s expansion by capitalizing on Class’ key strengths including customer and vendor centricity, dedication to quality and a world-class experience, and continuous innovation of new technology and new product launches with accelerated speed of delivery, the company stated.
Class Valuation is one of the largest nationwide providers of real estate asset valuation and appraisal management solutions to the residential mortgage industry, the company said.