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Solidifi + Kirchmeyer Merger

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Frederick

Senior Member
Joined
Nov 2, 2005
Professional Status
Certified General Appraiser
State
New Jersey
http://www.solidifi.com/us_en/press_releases.php

Solidifi US Inc., Buffalo, New York, January 7, 2013 - Solidifi and Kirchmeyer, two leading independent real estate appraisal management companies, have joined forces in a deal that will see Solidifi become the third largest independent provider of residential real estate appraisals in the country. The company is a trusted, well-capitalized alternative to traditional appraisal management companies servicing more than 50% of the nation's top lenders.

"Following a $22 million financing in 2012, Solidifi is in growth mode and Kirchmeyer is an important part of our overall growth strategy. It is the ideal fit for Solidifi," says Jason Smith, Solidifi's President and CEO.

An industry thought leader, Solidifi is helping evolve the appraisal management business through its technology and analytics platform. In effect, it is using technology to build efficiency throughout the appraisal process, increase quality, drive costs out and improve the client experience. Solidifi's technology identifies the right appraiser for each assignment who will deliver high-quality comprehensive appraisals to the lender.

"Solidifi's technology and broad appraiser network will complement our own network and I and my team are excited to continue to service our current and future customers with these extended capabilities," says James Kirchmeyer, CEO of Kirchmeyer & Associates.

It's a winning value proposition all around: the appraisers are top of their field and are highly compensated for their efforts. The lender receives the right information the first time with no additional costs because the system is streamlined and designed to drive performance. The lender also benefits from Solidifi's and Kirchmeyer's 100% focus on being the best provider of real estate appraisals in the market. Both companies exclusively provide real estate valuations. This approach has allowed the companies to direct all their management and technology resources to outperforming competitors and exceeding their customers' expectations.

"I have worked with both firms and know firsthand that Solidifi and Kirchmeyer value high-quality appraisers," says Kevin Wang from AccuFast Appraisal Services, "The platform and model works. It helps make me successful as an appraiser and ensures the lenders get what they need when they need it."

Solidifi and Kirchmeyer are a cultural match. Both firms value quality, strong appraiser partnerships and exceptional customer service. Existing and new clients will benefit from a stronger, larger team of mortgage industry specialists known for outstanding relationships with lenders and appraisers.

"With our shared philosophy of assigning every order to the most competent appraiser to ensure delivery of a top quality report, the combined companies will continue to raise the bar in terms of service, quality and professionalism," says Andrew Bough, Solidifi's Chief Valuations Officer. Solidifi's elite network of appraisers in every county nationwide will complement the Kirchmeyer panel.

Solidifi has invested more than $25 million to date in its industry-leading technology platform which will further enhance appraisal performance for Kirchmeyer customers. The Solidifi cloud-based technology provides customers with a flexible and scalable appraisal management solution with the highest standards in data security and reliability including redundant servers in SAE16 certified data centers in Dallas, TX and Washington, DC.

Moving forward the combined entity will operate under the Solidifi name.
 
"With our shared philosophy of assigning every order to the most competent appraiser to ensure delivery of a top quality report, the combined companies will continue to raise the bar in terms of service, quality and professionalism," says Andrew Bough, Solidifi's Chief Valuations Officer. Solidifi's elite network of appraisers in every county nationwide will complement the Kirchmeyer panel."


You mean no more "what's your fee and turn-time calls"??? They're going to ask the appraiser about his/her qualifications and experience???

Umm...OK.
 
Kirchmeyer and Solidifi

I don't do work for either of these outfits, so I'm not even sure why I got the email and I have no comment. Just posting for informational purposes and curious to know what those of you who do work for them think. This was in my email inbox this morning:

January 7th 2013

As a loyal and valued partner of Kirchmeyer & Associates I would like to take this opportunity to thank you for your partnership in 2012 and for your continued support and partnership in 2013.

As a valued member of Kirchmeyer & Associates' appraiser network, I wanted to personally bring to your attention the attached press release that is being issued today to the media outlets, announcing that Solidifi US Inc. has completed a deal with Kirchmeyer & Associates.

We are pleased to join forces with Solidifi as we share the same business principals of providing high quality appraisal reports, delivering premier customer service and valuing well-formed appraiser partnerships. Our combined operations now become the 3rd largest, non-bank owned appraisal management company in the nation.

We ask that your appraisal assignments continue to be conducted business as usual under the Kirchmeyer brand as outlined in your engagement letter. Should you also be receiving assignments from Solidifi we expect you to complete the assignment under the Solidifi brand as outlined in their engagement letter.

If you have any questions regarding today's news please feel free to contact our appraiser relationship manager, Michelle Rozell at mrozell@kirchmeyer..com. I thank you for your partnership in the past and going forward.

Sincerely,

James A. Kirchmeyer CEO
 
Oops! I just posted this under another forum! I got an email from the that thanks me for being a loyal and dedicated partner, and then goes on to report the merger. The funny thing is I've never done a single appraisal for either of them!
 
I got the same email and also have never done a thing for them! They really know who is doing their appraisers, eh?
 
Same here. I had high hopes from them early on in this thing (AMC hell) but they are no better than the other guys. From what I read, they deserve each other! I have received ONE order from them in the past years, otherwise, nada. The sad thing is that one of ny former good clients went from Dart to Solidifi, although I tried to warn them. :shrug:
 
I do work for Solidifi, they pay a decent fee, but are slow in payment, usually 30-45 days out, depending on their accounting schedule. Work flow is spotty. Communication is poor.

Generally they manage panels for lenders, and my experience with them came from former clients switching from a traditional AMC to Solidifi.

No experience with Kirtchmeyer
 
The last time Kirchmyer "merged" they got involved with Zaio - and left a lot of appraisers with pennies on the dollar for invoices when Zaio went belly up.

Things may have changed, but back then, Kirchmyer was ordering a ton of 2055's - and refused to upgrade - just kept shopping appraisers until they found one dumb enough to do a 200 acre farm on a 2055. Then there was the old "house and 5" but oh by the way, we won't provide any data for which 5 and also add into the report the value for the entire parcel.

Solidifi is ok - but beware. If you do accept work, don't let Kirchmyer get into you for more than a few reports before getting payment. Things may have changed - but then again, it may be same old same old.
 
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Oops! I just posted this under another forum! I got an email from the that thanks me for being a loyal and dedicated partner, and then goes on to report the merger. The funny thing is I've never done a single appraisal for either of them!

I got the same email and also have never done a thing for them! They really know who is doing their appraisers, eh?

Interesting? It might lead someone to believe you are being used as examples of all the QUALIFIED appraisers on their list of appraisers?

Not that any AMC would ever create a list of appraisers to Puff up the number of qualified appraisers on their lists.
 
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