IRR-Residential Adds New Affiliates and Appoints Chief Appraiser
WESTWOOD, Kan., June 24 /PRNewswire/ — IRR-Residential, the second
largest residential appraisal firm in the country, has added four new
affiliates, providing additional depth to its nationwide coverage. The firm
also announced the appointment of Tom Munizzo as chief appraiser and
compliance officer.
The new offices are IRR-Residential Krantz Appraisal Firm, which serves
six Lake Ozark, Mo. counties; IRR-Residential Value Experts, with two
offices servicing the New Orleans and Baton Rouge, La. markets; and
IRR-Residential Rayburn Appraisals & Consulting, which serves the
Chicago-area market.
“We have carefully selected these firms to be part of the
IRR-Residential organization and are proud to add these new affiliates to
our organization,” said John Wood, president and chief operating officer,
IRR-Residential. “In today’s real estate market, independence, size,
product offering and quality of service are necessary to meet the needs of
lenders.”
The company also announced that Thomas M. Munizzo, IFA, DAR, CAR has
joined the firm as chief appraiser and compliance officer. Munizzo, who has
been providing residential appraisal services for 22 years, started his
career with a third-generation family-owned business, Munizzo Appraisal Co.
Munizzo’s firm was acquired in 2000 by Real Estate Appraisal Services
(REAS), a subsidiary of Charter One Financial Services. Munizzo joined REAS
as regional vice president and chief appraisal manager. In 2006, Munizzo
was president of National Association of Independent Fee Appraisers.
“We are fortunate to have found someone with Tom’s background as both
an independent appraiser and someone who has been employed by leading
lending institutions,” Wood said. “With changes in the industry, he is the
ideal person to provide our organization’s compliance oversight.”
As of January 1, 2009, Fannie Mae and Freddie Mac will only accept
appraisals based on a new Home Valuation Code of Conduct (HVCC). The HVCC
requires that the valuation process is totally independent of the loan
origination process and from other settlement services such as title
insurance that are reliant upon an appraised value enabling the loan to go
forward.
“I am delighted to join IRR-Residential at this critical juncture for
the residential appraisal industry,” Munizzo said. “Being a valuation
focused company, IRR-Residential is well-positioned to provide the
independent, non-conflicted valuation services needed by lenders to be
compliant with the HVCC.”
About IRR-Residential
IRR-Residential, an outgrowth of Integra Realty Resources, is focused
on building a superior national residential valuation services organization
utilizing a franchise affiliation business model. IRR-Residential provides
valuation services in all 50 states. It has 48 affiliate offices located in
42 markets and 20 states and utilizes a fee panel for areas beyond
affiliate coverage.
For more information, visit http://www.IRR-Residential.com or call
913-261-1800.
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[Via Real Estate Newswire]