Pro Teck Valuation Services CEO Tom O’Grady was recently featured with 29 other top business executives for a cover story in DSNews Magazine.
The article — Hitting New Heights: 30 Top Executives Tell You The Future — is featured in the December 2015 edition of the popular industry publication. O’Grady offered his outlook, giving readers two factors he believes will have an impact on the real estate valuation industry in 2016. They are:
- The continued recovery of the US housing market will help homeowners who were underwater re-emerge into the housing market.
“With the housing recovery has come home appreciation, and with that the re-emergence of home equity lending. Home owners that were underwater a few years ago are now eligible for home equity loans. We feel this is a market with pent-up demand and will be an area of growth in 2016.”
- Navigating the new regulatory environment will continue to cause great consternation among lenders, servicers and investors.
“Many lenders, servicers and investors have struggled with the enormous increase in regulation. When it comes to property valuations – partnering with a national AMC that is on top of changes, working with regulatory agencies and state legislators and able to provide expertise and compliance will be more important than ever.”
O’Grady goes on to emphasize how important it is for financial institutions today to work with valuation companies like Pro Teck and embrace products like a desktop appraisal with inspection (Pro Teck’s ADI) to meet the new regulatory landscape.
“Financial institutions have also been looking for products to meet the new regulatory landscape, and valuation companies like Pro Teck continue to work at designing products to provide effective and compliant solutions. It is an exciting, challenging, fast moving and innovative time in our industry. We are up to the challenge and look forward to meeting the needs of our clients in 2016 and beyond.”
Click to download the attached PDF to read the entire article.
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