Pro-Teck Valuation Services


Pro-Teck News for 7/25/2008

5/6/2008 - Pro-Teck Supports Bank of America Event
Pro-Teck was honored to support this year’s 5th Annual Bank of America Charity Golf Tournament, held on May 2, 2008. The tournament was held at the Grandover Resort in Greensboro, NC. Pro-Teck joined many other sponsors for an outstanding event in support of two worthy organizations; Habitat for Humanity Greater Greensboro and Senior Resources of Guilford. The event began with breakfast and shotgun start at 8:30 AM. Contests and events included a rewards dinner, silent auction and prizes, including a brand new Porsche Cayenne, for straightest drive, longest putt, closest to the pin and a hole-in-one.

3/31/2008 - Pro-Teck Services Promotes Domenica Puleo to Manager of Marketing
Waltham, MA – March 31, 2008 – Domenica Puleo has been promoted to Marketing Manager effective March 1, 2008. Ms. Puleo began her career at Pro-Teck Services in November of 2002 as a Vendor Manager and quickly transitioned into the Sales and Marketing Department. In her new role, Domenica will be responsible for coordinating and managing all the marketing strategies for the company, with a strong focus on external communications. Domenica will continue to report directly to the CEO and President Tom O’Grady who has stated “Domenica excels in areas such as organization, attention to detail, project planning, and communications. She has a natural ability to cultivate business relationships and represents us well in professional settings.” About Pro-Teck Services Established in 1977, Pro-Teck improves risk management for Property/Casualty Insurers, Mortgage Lenders, Mortgage Servicers and Secondary & Capital Markets. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, loss control inspections and appraisals. Services are provided through an intelligent web based platform that delivers collateral risk and valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances.

3/12/2008 - Pro-Teck Services Expands West Coast Operations
Waltham, MA – March 12, 2008 Decision making in the current mortgage market has become even more dependent upon faster and higher quality information. To meet the demands of valuation volatility in regional markets and the need for a higher degree of quality and customer service, Pro-Teck Services, based in Waltham, MA, has expanded its California operations. The Pro-Teck operations in Irvine, CA have expanded the current Quality and Customer Service departments while adding Quality Resolution, Capital Markets Review Reconciliation & Negotiation and Vendor Management departments to augment current operations in Boston, MA. Tom O’Grady, President of Pro-Teck says: “Quality, customer service and turn–time all rely on regional capabilities to support our client’s national needs, particularly when our quality program demands that each and every report is reviewed by our quality staff. The expansion in Irvine will further elevate our unrivaled national customer service, regardless of the time zone and drive regional knowledge into every valuation we provide.” The extreme increase of volume within the Servicing sector (Loss Mitigation, Default and REO) and micro-market dynamics have increased the need for regional market knowledge. Jeff Dickstein, Chief Appraiser comments: “Duplicating quality and vendor operations on the east and west coast allows us to better support our clients and vendors various time zones while strengthening our micro market expertise. Local market knowledge is the foundation of quality in all of Pro-Teck’s products.” Jeff Dickstein, a 20 plus year appraisal and collateral valuation veteran, is the Pro-Teck Chief Appraiser and will continue to manage the West coast operations. The west coast expansion completes Jeff’s strategy of combining regional customer service and quality resolution with market specific experience and knowledge. Pro-Teck specializes in delivering 100% placement and measurable quality improvements in its client’s valuation processes. Established in 1977, Pro-Teck improves risk management for Mortgage Lenders, Mortgage Servicers, Secondary & Capital Markets and Insurance Underwriters. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, inspections, valuations, BPO’s and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances. For more information, please visit www.protk.com, or contact Domenica Puleo, Marketing Manager, dpuleo@protk.com, 800-886-4949 x627 Empowering better decisions through better information.™

3/6/2008 - Pro-Teck Services Promotes Mary Gould to Director of Insurance Services
Waltham,, MA - March 6, 2008 - Mary Gould has been promoted to Director of Insurance Services at Pro-Teck Services. She will report directly to Pro-Teck’s CEO, Tom O’Grady. In this position Ms. Gould will oversee all of the company’s Risk Management and Loss Control service offerings. Ms. Gould’s primary focus will be on business development within the property & casualty homeowners market with both new and existing accounts. Ms. Gould joined Pro-Teck Services in 2002 and has held various management positions in the company’s insurance division. About Pro-Teck Established in 1977, Pro-Teck improves risk management for Property/Casualty Insurers, Mortgage Lenders, Mortgage Servicers and Secondary & Capital Markets. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, loss control inspections and appraisals. Services are provided through an intelligent web based platform that delivers collateral risk and valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances.

3/1/2008 - Pro-Teck Promotes Corinne Breslin
Corinne Breslin has been promoted to Quality Control Manager effective March 1, 2008. In Corinne's new role, she will be responsible for overseeing and managing all the daily production needs of the Quality Team in support of client required deadlines. Corinne will provide training to all reviewers, work with Account Managers to ensure client expectations are met and monitor production and timely delivery of all reports as well as overseeing monthly audits of individual reviewers. Corinne began her career at Pro-Teck in 2005 and has held the position of Quality Team Leader since January of 2007. Prior to joining Pro-Teck, she was employed for 10 years at LSI/Market Intelligence, a Fidelity National Company, as Dispute Resolution Manager. Corinne will continue to report directly to Jeff Dickstein, Pro-Teck's Chief Appraiser.

2/14/2008 - Pro-Teck Services Celebrates 30 Successful Years in Business
Waltham, MA - Feb 14, 2007 - Pro-Teck Valuation Services, a provider of real estate collateral valuation and risk management solutions celebrated its 30th Anniversary in December 2007. Since 1977 Pro-Teck's business has evolved from a regional insurance appraisal firm, offering loss control surveys and replacement cost appraisals, to a leader in collateral valuation and risk management in the insurance, mortgage and financial markets. What began 30 years ago as a small family business, is now an established second generation industry leader. “As our service offerings have evolved and grown the company has seen strong and consistent growth, averaging 30% per year over the past decade” stated Tom O’Grady, Pro-Teck’s current CEO and second generation family member. ‘A lot of companies don’t get to celebrate 30 year anniversaries, particularly family businesses. Pro-Teck’s commitment to its mission, ‘Enabling better decisions through better information.™’, keeps us focused on providing the highest quality information and has been the cornerstone of our long term success. This milestone says a lot about our employees, their many talents, and the consistent value they bring to our clients.’ Today, Pro-Teck works with the fortune 500 in Insurance, Mortgage and Capital Markets, providing valuation and risk management solutions that improve the financial performance of their real estate collateral. About Pro-Teck Established in 1977, Pro-Teck improves risk management for Mortgage Lenders, Mortgage Servicers, Secondary & Capital Markets and Insurance Underwriters. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, inspections, valuations, BPO’s and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances.

9/28/2007 - A Better Broker Price Opinion to Support Better Decisions
Waltham, MA – September 28, 2007……Addressing the volatility in values of the current market, Pro-Teck has added full Subject Listing History and a live link to Interactive Satellite and Flyover Imagery to all of it’s BPO products. Valuation and due-diligence in the current volatile market need to go beyond a value conclusion. Pro-Teck’s BPO enhancements provide more and better information to support the accurate valuations needed in today’s turbulent market. The Subject Listing History provides 36 months of listing detail from the local MLS. Pro-Teck’s inclusion of this information helps to highlight possible fraud and/or pricing trends that have become increasingly important in the current market. Satellite and Flyover Imagery has been incorporated into the Pro-Teck quality process for some time, however, market demand for access to supporting information and data behind the value has led to Pro-Teck adding a live link to the aerial imagery in the final report delivered to clients. With access to this integrated web tool, client’s have the same ability as Pro-Teck’s staff appraisers to view the subject and comparables in 360 degree aerial views. The imagery can be used to better understand the impact of location on the subject as well as selection and weighting of the comparables. Understanding the basis of a value is essential, whether it’s loan origination, servicing, selling or acquisition. Pro-Teck valuation services goes beyond a solitary value conclusion and delivers the detailed information required to defend and negotiate values. Key benefits include: Fewer bad loans through proper valuation and fraud detection, higher profits from lower due-diligence costs and increased internal bandwidth. The end result is a complete value and risk picture with the supporting detail needed for credibility and defense in today’s market. Pro-Teck Broker Price Opinions are available for demonstration and pilot programs- “Make better decisions that drive profitability”. Established in 1977, Pro-Teck improves risk management for Mortgage Lenders, Mortgage Servicers, Secondary & Capital Markets and Insurance Underwriters. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, inspections, valuations, BPO’s and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances.

8/8/2007 - Pro-Teck's Growth Creates New Department
Alissia Apinian-Margios is promoted to Resolution Services Manager heading up the new Resolution Services Group. This newly added Resolution Services Group (RSG) is a growing part of Pro-Teck Operations. The primary role of the RSG is to provide timely resolution to open vendor quality issues and timely support to all vendor quality related inquiries. The RSG is part of Operations, but works closely with the Quality Review Team. Alissia's previous experience as an Account Manager allowed her the opportunity to excel in resolving her clients quality concerns and was quickly recognized as the perfect fit in her new role. Alissia graduated with a double major from Northeastern University and holds a BS in International Relations and Political Science. Alissia will report directly to Luc Levensohn, VP of Operations and will be located in Waltham, MA.

7/25/2007 - Pro-Teck Announces New Director of Strategic Accounts
Waltham, MA - July 25, 2007......Matt Jenkins has been promoted to Director of Strategic Accounts. Matt began his career at Pro-Teck in 2005 as a Quality Analyst and then as an Account Manager. In his new position Matt will be responsible for business development and relationship management within key accounts as well as operational management of the Account Management Group. Matt's experience as an Appraiser and in providing solution based sales support to the Account Executives makes this a natural evolution as Pro-Teck focuses on partnership and relationship building with clients. Prior to working at Pro-Teck, Matt was at LSI/Market Intelligence, a Fidelity National Financial company, as a Reconciliation Appraiser and Dispute Resolution Analyst. "Building Pro-Teck's customer relationships continues to be a key focus for our organization. Matt's communication skills and creativity make him a perfect ambassador for our customer service team," said Luc Levensohn, VP of Operations.

7/20/2007 - Filling the Appraiser Assisted AVM and BPO Gap: Pro-Teck Services Introduces CollateralPoint
Waltham, MA – July 20, 2007……Pro-Teck, a national provider of real estate collateral valuation solutions, announced the introduction of a new valuation service that delivers an Appraiser Assisted model focused on objectivity while streamlining the collateral due diligence process. CollateralPoint is a desk-top valuation (Fast & Economical), produced by a staff appraiser (Reliable) utilizing an AVM cascade, satellite imagery, numerous data sets, (comps, listings, transaction histories, market data, economic data, appreciation/depreciation, risk data and fraud detection) and a model driven value conclusion (Objective). Additional options include: Local appraiser production, USPAP compliance, Site inspection, Value forecasting and CollateralPoint delivered to your desk-top as a tool for in-house staff production. The power of CollateralPoint is the integration of 3 key elements in the valuation process: Objective valuation “engine”, a valuation professional and subject & market data. What is delivered is the fast, economical and objective solution the mortgage industry has been looking for. Key benefits include: Fewer bad loans through proper valuation and fraud detection, higher profits from lower due-diligence costs and increased internal bandwidth. The end result is a complete value and risk picture with the supporting detail needed for credibility and defense in today’s market. CollateralPoint is available for demonstration and pilot programs- “Make better decisions that drive profitability”. Established in 1977, Pro-Teck improves risk management for Mortgage Lenders, Mortgage Servicers, Secondary & Capital Markets and Insurance Underwriters. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, inspections, valuations, BPO’s and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances. For more information, email us at: info@protk.com or log on at www.pro-teck.com and click on Desktop Valuation under the Solutions Section.

7/16/2007 - Chief Appraiser Position Filled
Jeff Dickstein hired as new Chief Appraiser and member of Pro-Teck's Executive Team. Jeff has been in the Mortgage industry for 26 years, 17 as an appraiser. He started his career in loan underwriting at National Pacific Mortgage where he eventually moved into appraising, primarily completing FHA inspections. After leaving National Pacific Jeff ran his own appraisal business for a few years. For the last 5 years Jeff has worked exclusively on Post Closing Appraisal Review for Investor Due Diligence, REO, Loss Mitigation and Fraud. His most recent position was VP, Director of Appraisal for Capital Markets with Peoples Choice Home Loan. We are very pleased to have Jeff join our team. Jeff's extensive experience in the mortgage finance world and appraisal knowledge will make him an asset to the company and strengthen Pro-Teck's reputation for Quality. Jeff resides in with his family in Southern California.

6/12/2007 - Mr. Tom O'Grady facilitates PMC 2007 Panel
June 12, 2007......Pro-Teck Services was an Alliance Partner at the recent PMC 2007 Conference held at the St. Regis Hotel in Dana Point, CA. This is Pro-Teck's 5th year as a major sponsor of this event. PMC is known for it's focus on predictive technologies and collateral risk and valuation tools being used in the mortgage finance industry. Mr. O'Grady participated and facilitated the Servicing Panel on Tuesday, June 12, that discussed the use of risk based default management strategies in improving loss mitigation efforts.

6/11/2007 - Keynote Speaker, James B. Lockhart introduced by Pro-Teck CEO Tom O'Grady
Waltham, MA – June 11, 2007...........Introducing the distinguished keynote speaker, Mr. James B. Lockhart III at this years PMC 2007 was Pro-Teck's President/CEO, Tom O'Grady. Mr. Lockhart is the Director of OFHEO – Office of Federal Housing Enterprise Oversight. His detailed presentation focused on the dominant US Mortgage Market players, Fannie and Freddie and addressed the “Risks in the Housing GSE's”. In addition to being one of this years Alliance Partners, Pro-Teck has been a consistent sponsor of the PMC for the last 5 years. “This is a great conference, the content and presentations are very informative and it was an honor to introduce the keynote speaker” - Tom O'Grady Established in 1977, Pro-Teck improves risk management for Mortgage Lenders, Mortgage Servicers, Secondary & Capital Markets and Insurance Underwriters. Specializing in configured solutions, a full suite of services are available, including on-line real-estate data, fraud scoring, value modeling, inspections, valuations, BPO’s and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom work-flow/business rules and product upgrades defined by individual client risk tolerances.

3/20/2007 - Pro-Teck Valuation Services integrates with Microsoft Virtual Earth
Waltham, MA – March 20, 2007 – Pro-Teck Valuation Services, a provider of real estate collateral valuation and risk management solutions, has integrated with the Microsoft Virtual Earth platform. The integration enhances Pro-Teck’s quality assurance and end products with aerial and satellite imagery of properties and neighborhoods across the USA . Key benefits to the integration include 'fly over' aerial and satellite imagery that validates subject property location and identity as well as comparable sale and neighborhood views. Pro-Teck’s valuation services are already integrated with Microsoft’s MapPoint for subject property address verification, comparable distance verification, relational mapping of properties and comparables. The addition of the Virtual Earth imagery further enhances the quality and detail of information provided in Pro-Teck’s valuation products. Mapping and imagery is a key element of the final report deliverable and is also directly integrated into the quality assurance process throughout the range of products offered by Pro-Teck (AVM, Fraud Modeling, Inspection, Broker Price Opinion, Appraisal, Reconciliation and Tie-Out). President Tom O'Grady describes the integration as an essential aspect to quality and report effectiveness: “The mapping and imagery capabilities are delivered directly to the quality assurance desk-top and are used throughout the quality control process. Knowing without question that the report was completed on the right property and comparables, are appropriate is an essential step in delivering a valuation service and validated data that our clients' can use with confidence in their decision making process.” “We are pleased that Pro-Teck has decided to integrate the Virtual Earth platform into its online offering,” said Erik Jorgensen, general manager of the Virtual Earth and Live Search Maps Business Unit at Microsoft Corp. “With Virtual Earth’s bird’s-eye and satellite imagery capabilities, Pro-Teck will be able to provide its customers with an incredibly powerful and easy to use mapping tool.” Pro-Teck is a national provider of real estate data and valuations. Through a focus on customer service and technology we deliver customized collateral risk management solutions for funding, servicing, portfolio management and secondary market requirements. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. Please contact: Media Relations: Domenica Puleo 800-886-4949 x627 Sales Relations: Ed Hunter 800-886-4949 x647 Empowering better decisions through better information.™

8/30/2006 - Ed Hunter appointed to new position of Executive Director, Sales
Ed began his career at Pro-Teck as a National Account Executive in October 2005. In his new role as Executive Director, Ed will manage the Valuation Services Sales Group to direct continued market share growth in the Mortgage Capital, Servicing and Origination markets. In addition Ed will target new markets and assist in new product development, quality control and continuous improvement programs. Prior to joining Pro-Teck, Ed’s background includes 15 years of financial service experience in commercial paper, securitization, commercial lease financing, credit guarantee and web based electronic payment services. With a core expertise in growth strategies and execution, Ed brings a track record of customer service that drives client acquisition and retention. Tom O'Grady, President / CEO stated, “All of us at Pro-Teck who have worked with Ed, appreciate his experience, leadership, teamwork and commitment. Pro-Teck’s sales plan is aggressive with sales team expansion and continued growth in the national market. Ed has built successful sales teams in the past and we know he will do the same here at Pro-Teck.”

5/15/2006 - Tom O'Grady To Speak at PMC 2006 Conference in June.
The Session entitled, The Value of Collateral Valuation Derivatives will focus on the availability of various collateral valuation products. Today’s market provides participants with a range of choices that are most appropriate for their particular risk tolerance strategies. Tom’s extensive background and years of experience coupled with the panel of experts which includes the following: Sam Massucci, President & CEO, MacroMarkets; Jim Follain, SVP Mortgage Valuation, Fidelity National Financial; Bill Rayburn, CEO, FNC, will help attendees decipher which solution may be most appropriate for their valuation needs. To see a full description and find out more about PMC 2006 please visit PMC 2006 Predictive Methods Conference

1/27/2006 - GreenTree, Tempe, AZ assigns Top Score to Pro-Teck Services, Ltd.
Waltham, MA - January 27, 2006------ Pro-Teck, a provider of real estate collateral risk management and valuation solutions, has received an 'Exceeding Expectations' rating on GreenTree's internal vendor scorecard for eight consecutive quarters. The rating is based on Product Quality, Turn-Time, Reliability and Reporting. Rich Passarelli, Manager of Appraisals/Preservation Department at GreenTree stated, “We have been working with Pro-Teck for years. Pro-Teck's commitment to quality and responsiveness to our needs has earned them a top spot as our preferred provider of valuation and risk management services.' Established in 1977, Pro-Teck Services works with Mortgage Lenders, Mortgage Servicers, Secondary Market Investors and Insurance Underwriters to improve risk management through superior real estate collateral information. Pro-Teck provides a comprehensive suite of services including on-line real estate data, fraud scoring, value modeling, inspections, valuations and appraisals. Services are provided through an intelligent web based platform that delivers collateral valuation products, tools, custom workflow, and product upgrades defined by clients' risk tolerance and business rules. To contact Pro-Teck Services: 411 Waverley Oaks Road Suite 321 Waltham, MA 02452 800-886-4949 sales@protk.com Pro-Teck……“Empowering Better Decisions through Better Information”

1/4/2006 - Record RMBS volume drives faster & lower cost due-diligence, according to Pro-Teck Services
Waltham, MA - Record Residential Mortgage Backed Securitization volumes and thinner margins have driven the mortgage industry to new valuation services that target Fraud Reduction, Faster Turn-Around and Lower Costs. The new and extensive regulatory requirements the SEC has scheduled for 2006 (SEC Regulation AB) will put additional emphasis on the already key due-diligence factors of quality and loan data correctness. However, current market volume, continued growth and on-going fraud worries are the driving forces behind two new verification services provided by the collateral specialist, Pro-Teck Services, Waltham, MA. Working with a number of clients, including ABN AMRO, Property Type Verification and Occupancy Verification products have been built to deliver a fast, low cost AND quality solution. InterFirst Wholesale Mortgage Lending (a division of ABN AMRO Mortgage Group, Inc.) identified the potential for misrepresentation of property type and occupancy on broker originated loans. The specific problem was discovered when they repurchased a loan from an investor. The loan had been misrepresented by the origination broker regarding the property use. In an effort to obtain lower product pricing, the broker misrepresented a multi-tenant occupied property as an owner occupied/single family property. The Pro-Teck Property Type Verification and Occupancy service provided the right solution for InterFirst, confirming the actual type and occupancy status of the property as tenant occupied before the issue became a cost or rating problem. Results for the Property Type Verification services are delivered in a fraction of the time and cost of a Broker Price Opinion or new appraisal. InterFirst is now able to perform random sampling due-diligence across their broker network prior to funding or securitization at an acceptable cost and time frame. Mitigating risk and confirming loan data early and quickly delivers positive results straight to the bottom line. Jeff Briggs, Collateral Risk Manager for InterFirst, describes the Pro-Teck services as: “… delivered by our top ranked quality vendor, the valuation and verification services are fast and cost effective, identify fraud, offer a true and defendable valuation and are a means to assist in performance ranking our broker network.” The Pro-Teck Property Type Verification and Occupancy Verification services are delivered through a national network of real estate professionals, include an on-site inspection, photos, comparables map and automated fraud score and can be delivered on a per case, sampling or total pool basis. Established in 1977, Pro-Teck provides a full range of collateral valuation services to the mortgage industry, including Retail Mortgage Banks, Mortgage Service Companies, Secondary Market Issuers/Investors and Insurance Groups. Automated Fraud scoring, AVM (automated value modeling), Inspections, BPO (Broker Price Opinion), Desk-top reviews and Appraisals are all configured to meet the individual needs and risk tolerances of clients from a single provider. Clients include: ABN AMRO, Goldman Sachs, WAMU, Green Tree, Morgan Stanley, and PHH.