eAppraiseIT Buys Network Appraisal Services

Valuation technology company eAppraiseIT LLC, Poway, Calif., has announced the acquisition of Network Appraisal Services, Kalamazoo, Mich.The terms of the transaction were not disclosed. NAS manages appraiser networks for national and regional lenders and develops online systems that help them comply with regulations by the Office of the Comptroller of the Currency to prevent directed appraisals. NAS executives will remain with the company, which will retain its name and operate as an independent subsidiary of eAppraiseIT, the company said. "NAS expands the range of services that we are able to deliver to the lending community," said Anthony Merlo, president of eAppraiseIT. "It allows us to better serve retail-focused lenders who maintain their own network of appraisers, and it will also help our other clients implement safeguards that help remove bias from the appraiser selection process." The company can be found on the Internet at http://www.eappraiseit.com.