CoreLogic announced May 8 that it will close its CoreLogic Valuation Services business unit, the firm’s appraisal management company based in Danvers, Mass. All business operations at the AMC will be discontinued on or before Sept. 30.
The company said its decision will not impact any joint-venture appraisal businesses.
“We do not anticipate any immediate impact to our appraiser panel,” CoreLogic announced. “In the short-run, as we begin to transition to our new business model, we will continue to accept appraisal orders from our customers and will focus on completing all outstanding orders in a timely manner.” The company said that currently there are no changes in the way panel members receive, complete or submit appraisal orders.
“Our appraiser panel is critical to our success as a business, and we remain committed to our partnership with each of our panel members,” the company stated.
CoreLogic said that additional information would be announced in the near future.