Stewart Expands Property Valuation Solutions with Acquisition of Pro Teck Valuation Intelligence


HOUSTON – (COMMERCIAL THREAD) – Stewart Appraisals Management, Inc., a subsidiary of Stewart Information Services Corporation (NYSE: STC), today announced the acquisition of Pro-Teck Services Ltd., DBA Pro Teck Valuation Intelligence, strengthening and expanding its scale assessment and evaluation solutions. With over 40 years of residential real estate experience, Pro Teck is an industry leader in property valuation services, including its proprietary Valuation Intelligence technology.MT, a cloud-based order fulfillment platform that provides the best residential real estate values ​​and market information, as well as a SaaS solution to allow lenders to directly manage the appraisal process in-house.

“As we continue to invest in the future of Stewart, this acquisition adds innovative technology, data and analytics to our growing assessment business essential to the conduct of future businesses,” said Fred Eppinger. , CEO of Stewart. “The scale and additional capabilities of Pro Teck bring us one step closer to our status as a Premier Title Services Company, allowing us to increase our services for our clients. ”

“Pro Teck’s breadth of services strengthens our ability to deliver exceptional customer experiences,” said Aaron Fowler, senior vice president at Stewart. “Our team is excited to work with our new colleagues and look forward to starting to collaborate with the entire Pro Teck team as we build the premier player in our industry. ”

Pro Teck provides clients with accurate and timely real estate information through a transparent process, exceeding industry standards in a complex regulatory environment. Pro Teck’s assessment intelligenceMT The platform enables a single source of real estate appraisals for mortgage originators, services and investors. Combining the best of market data and human knowledge, Pro Teck offers a comprehensive suite of products including assessments, desktop assessments, BPOs, desktop reviews, AVMs, data / analytics and hybrid solutions.

“We are very happy to be part of the Stewart family,” said Tom O’Grady, CEO of Pro Teck Valuation Intelligence. “Stewart’s commitment to making its evaluation and evaluation capabilities a dominant market leader won us over. Through Stewart’s strength and synergies with Stewart’s existing appraisal and appraisal operations, we will be able to deliver much greater value and competitive advantage to our customers.

In June, Stewart acquired United States Appraisals, a transaction that bolstered its mortgage origination offering. By adding Pro Teck’s expertise in capital markets and servicing, and an additional scale in original valuations, Stewart has solidified himself as a national leader in title insurance, settlement services, appraisal / appraisal and other real estate services for lenders, consumer banks, services, investors and other partners in the mortgage industry.

Berkery Noyes has been the exclusive financial advisor to Pro Teck Valuation Intelligence.

About Stewart

Stewart (NYSE-STC) is a global real estate services company, delivering products and services through our direct operations, our network of Stewart Trusted Providers â„¢ and our family of companies. From residential and commercial title insurance, closing and settlement services to specialist mortgage offerings, we provide the full service, in-depth expertise and solutions our clients need for any real estate transaction. At Stewart, we are committed to being the premier securities services company and we are committed to doing so by partnering with our clients to create mutual success. Learn more at stewart.com.

Forward-looking statements. Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to future and not past events and often concern our future business and financial performance. These statements often contain words such as “expect”, “anticipate”, “intend to”, “plan”, “believe”, “seek”, “” “anticipate” or other similar words. Forward-looking statements, by their nature, are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed in forward-looking statements. These risks and uncertainties include, among others, volatile economic conditions, including the timing and effects of the COVID-19 pandemic; unfavorable changes in the level of real estate activity; changes in mortgage interest rates, sales of existing and new homes and the availability of mortgage financing; our ability to respond to and implement technological changes, including the completion of the implementation of our business systems; the impact of unforeseen securities losses or the need to strengthen our provisions for policy claims; any effect of property losses on our cash flow and financial condition; the ability to attract and retain highly productive salespeople; the impact of verifying the quality and profitability of our agency operations; discount rates from independent agencies; changes in secondary mortgage market participants and the refinancing rate that affect the demand for title insurance products; regulatory non-compliance, fraud or misappropriation by our title insurance agencies or employees; our ability to respond in a timely and cost effective manner to significant industry changes and to introduce new products and services; the outcome of pending litigation; the impact of changes in government and insurance regulations, including any future reductions in the pricing of title insurance products and services; our dependence on our operating subsidiaries as a source of cash flow; our ability to access equity and debt financing markets when and when needed; our ability to develop our international operations; seasonality and weather; and our ability to react to the actions of our competitors. These and other risks and uncertainties are discussed in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and, the where applicable, our Quarterly Reports on Form 10-Q and our current reports on Form 8-K. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. We expressly disclaim any obligation to update, modify or clarify any forward-looking statements contained in this press release to reflect events or circumstances that may arise after the date hereof, except as required by applicable law.