Pro-Teck Valuation Services


Pro Teck News for 9/3/2010

5/10/2010 - Pro Teck’s Chief Appraiser to Speak at PMC2010
Jeff Dickstein, Chief Appraiser of Pro Teck Valuation Services, will be presenting at the 2010 Predictive Methods Conference, May 17-19, 2010 at the Ritz-Carlton, Laguna Niguel. Jeff will be moderating a panel discussion on “Closing the Gap: Technologies to Achieve Greater Transparency between Investors and Servicers,” and will focus on the ever-expanding need and role of real estate data in the industry. Pre 2007, investors were less concerned with understanding the ins and outs of the underwriting and servicing of loans, but that’s all changed. Greater transparency is now needed, and technologies are key enablers to providing the clarity desired to fill the information gap between servicers and investors. Pro Teck will also be exhibiting at PMC2010. Please stop by our booth to learn how Pro Teck can help you make smarter valuation decisions. To set a meeting during the show, please call 800.886.4949 or email sales@protk.com.

4/7/2010 - HVCC. Good? Bad? Why?
The Home Valuation Code of Conduct (HVCC) was implemented to restore confidence in the collateral value underlying a mortgage. The thought was that tighter valuations would give investors confidence to re-enter the mortgage backed securities market. Confidence drives investment. Like many things, HVCC has its share of good and bad points. HVCC promotes appraiser independence by acting as a “firewall” between brokers, Realtors and commissioned loan staff. Freddie Mac has even commented on an increase in appraisal quality since HVCC was implemented. On the negative, it hasn’t been fully implemented (the Independent Valuation Protection Institute, a place for appraisers to report issues, has not been set up), and many good appraisers whose business model relied on mortgage broker relationships were disproportionately impacted. So, if confidence drives investment, then HVCC has been good for the industry. And if confidence is needed to get the economy moving, then there is an issue that could have a much greater impact than HVCC in 2010 – the growing number of disparate state AMC regulation and registration initiatives. Imagine a United States where driving laws were different in every state. What if in half the states you drive on the right side, the other half the left? How many more accidents would there be, how many fewer cars would be purchased? What would happen to insurance rates, roads, the automobile industry? AMC regulation is a good thing for the industry, and Pro Teck endorses the Title/Appraisal Vendor Management Association’s (TAVMA) Standards of Good Practice in Appraisal Management. Implemented and enforced consistently on the state and/or federal level would instill confidence. State initiatives like those being proposed in New Mexico and Utah are like driving on the left side of the road. Pro Teck’s job is to give its customers the best real estate valuation information possible so they can make smart investment decisions. We believe it is the role of government (state and/or federal) to protect its citizens with laws that regulate industry while promoting commerce. States individually passing laws that materially change the industry will hurt commerce and negatively impact investor confidence. We all want to get the economy moving again. The Federal Reserve has said it plans to stop buying mortgage backed securities at the end of March. We need tight valuations provided by trained professionals so that MBS investors can feel confident, no matter if the underlying asset is in New Mexico, New Hampshire or North Carolina. Consistency drives confidence, confidence drives investment.

3/16/2010 - Pro Teck Valuation Services Announces Appraisal Order Portal for the Wholesale/Retail Market
Pro Teck Valuation Services, a leading real estate valuation and risk solutions provider, today announced the expansion of its services by offering a configurable Appraisal Order Portal for wholesale and retail mortgage origination. The platform, already in use by top national mortgage wholesalers, is designed to meet the national appraisal needs of the market; including regulatory, investor and HVCC requirements. With a streamlined interface, multiple payment options, robust status reporting capabilities and the quality demanded today, Pro Teck’s solution does away with the need for a third party ordering platform and truly simplifies the appraisal management process. Pro Teck takes great pride in configuring its offerings to exceed the needs of its customers. If your organization could benefit by better appraisal delivery, higher quality and more process visibility, email sales@protk.com. About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers and investors to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions.

2/1/2010 - Pro Teck Exhibits at the MBA’s Servicing Conference, February 23-26
Pro Teck Valuation Services will be exhibiting at the MBA's National Mortgage Servicing Conference & Expo, February 23-26, 2010 at the Manchester Grand Hyatt in San Diego, CA. Please stop by our booth to learn how Pro Teck can help you make smarter valuation decisions. To set a meeting during the show, please call 800.886.4949 or email sales@protk.com.

1/27/2010 - Pro Teck Endorses TAVMA’s Standards of Good Practice in Appraisal Management
Waltham, MA, January 27, 2010: Pro Teck Valuation Services, a leading real estate valuation and risk solutions provider, endorses the Title/Appraisal Vendor Management Association’s (TAVMA) Standards of Good Practice in Appraisal Management as an important and necessary step in ensuring consistency and quality from all appraisal management companies (AMCs). TAVMA has published its standards as a set of guidelines for participants in the appraisal management industry. The standards outline best practices to help ensure that AMCs and appraisers deliver quality, objective valuations to the financial institutions they serve. A .pdf copy of the Standards of Good Practices in Appraisal Management can be found at: Tavma standards of good practice.pdf Topics covered include: supplier recruitment & coordination, appraisal order assignment, order tracking & workflow management, pre- and post-delivery quality control, customer service & dispute resolution, and training & development. As a member of TAVMA, Pro Teck was actively involved in the creation of the standards. “After more than three decades in the business, Pro Teck has perfected multiple business, training and quality control process that produce more accurate valuations,” said Tom O’Grady, CEO. “We believe it is good for the industry to have minimum standards, and we’re happy to lend our expertise.” About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers and investors to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions. To learn more, please call 800.886.4949 or visit our website at www.protk.com About TAVMA: TAVMA, the Title/Appraisal Vendor Management Association, is a non-profit professional organization that represents more than 75 companies including more than 40 of the largest Appraisal Management Companies (AMCs) with combined market share of 85 percent of the AMC market. TAVMA promotes the vendor management industry and presents its members' positions to government and media, protects its members' rights to do business without unfair and anticompetitive legislation and regulations and provides useful information about issues impacting the real estate settlement services industry. For more information about the organization, visit the website at www.tavma.org.

1/19/2010 - Join Pro Teck in Contributing to Haiti Relief
Waltham, MA, January 20, 2010: The devastation in Haiti looks to be one of the most severe human tragedies of our time. To help the Haitian people in their time of need, Pro Teck Valuation Services has made a $10,000 contribution to the American Red Cross International Response Fund. Pro Teck hopes that employees, clients, vendor and others in the industry will help the Haitian people in their own way. Donation to the American Red Cross International Response Fund can be made at American Red Cross or by calling 1-800-RED-CROSS. Please make sure to designate your gift to Haiti Relief. You can also donate $10 to Haiti Relief by texting “HAITI” to 90999. About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers and investors to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions.

1/7/2010 - Two Questions to ask your Valuation Provider
What happens when you place an order for an appraisal or BPO? Does your provider have an effective quality control process? Are you getting the most accurate information? Pro Teck Valuation Services recommends asking your provider two simple questions that can help you determine: 1. Does your valuations provider have a documented quality control process? Most of us have routines we follow every day – whether it’s where we stop for coffee or how we exercise, routines are important in adding structure to our day. In business, important routines are document and enforced. When accuracy and consistency are a must, a well documented quality control process that is strictly adhered-to can greatly reduce the possibility of error. Does your provider have an automated process to check reports for errors and omissions? Are valuation reports reviewed by Quality Control Staff before delivery? Have your provider go over their quality control process with you, meet members of the team that perform each step, learn how they deal with exceptions. Knowing your provider has a rock-solid, multi-step quality process will make you more confident in your valuations. 2. Does your provider review, score and rank the appraisers and BPO providers it uses? Appraisers, agents and brokers all have licenses and certifications they need to keep current, but do these designations guarantee a quality product? Ask your provider how it chooses which appraiser or Realtor gets an order. What role does proximity to property, past accuracy and timeliness play? Many providers have internal scoring methods that reward excellence – driving more orders to in-market appraisers and realtors who have demonstrated higher quality while weeding out those who don’t make the grade. Make sure your provider has the best people working on your business. Whether you are an originator, servicer or investor, knowing what your provider is doing to deliver the most accurate valuations is important. Ask them these and other questions to ensure you are getting the best product. About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers, and investors to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions.

11/12/2009 - Pro Teck Valuation Services hires Senior Sales Director, Origination Channel
Waltham, MA, November 12, 2009: Pro Teck Valuation Services, a leading real estate valuation and risk solutions provider, today announced that Jeff Marchetti has joined the company as a Senior Sales Director. He will report to Ed Hunter, Executive Director. Mr. Marchetti will focus on introducing Pro Teck’s custom configured valuation solutions to prospects in mortgage originations. "Pro Teck’s growth has lead to the need to have an individual solely focused on the originations channel” said Mr. Hunter. “Jeff’s long history of success and intimate knowledge of the issues facing originators make him a perfect fit for our organization. Prior to joining Pro Teck Jeff held national sales positions at Wolters Kluwer Financial Services and a subsidiary of H&R Block in the wholesale mortgage banking division. Jeff can be reached at jmarchetti@protk.com. About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions.

11/4/2009 - Pro Teck Welcomes New Sales Director
Pro Teck Valuation Services, a leading real estate valuation and risk solutions provider, today announced that Al Dalupan has joined the Company as Sales Director, Business Development. He will report to Ed Hunter, Executive Director. Mr. Dalupan will be responsible for developing configured valuation solutions for mortgage banks, investors, lenders and servicers from Pro Teck’s West Coast office. "We are happy to have Al Dalupan join the Pro Teck Team,” said Mr. Hunter. “Al has proven through the years that he has the energy, vision and know-how to help his clients succeed. We look forward to him putting his 20+ years of expertise to work for our customers and prospects.” Prior to Pro Teck Al held consulting and sales positions at RealEC, Servicelink and FNC. He began his career in real estate as a Business Lending Officer with Bank of America. Al can be reached at adulupan@protk.com. About Pro Teck Valuation Services: Established in 1977, Pro Teck Valuation Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro Teck enables its customers to make sound valuation decisions.

10/12/2009 - Pro Teck Announces New Corporate Logo and Corporate Headquarters
Waltham, MA, October 12, 2009 – Pro Teck Valuation Services, a leading real estate valuation provider, today announced a new corporate logo and the move of its corporate headquarters. The new logo is part of a larger rebranding project. With record growth over the past few years, including being recognized in the Inc. 5000 as the 12th fastest growing privately held real estate firm in the United States, Pro Teck saw the need to ensure its culture and purpose were clearly articulated to a growing family of employees, vendors and clients. The rebranding effort will sharpen Pro Teck’s mission and message. “Pro Teck’s shift to a new look symbolizes the accuracy, service and expertise we deliver to our customers. Our focus is to provide the most accurate real estate valuations, custom configured to meet the business needs of originators, servicers, investors and underwriters,” said Tom O’Grady, CEO of Pro Teck. “We believe the new logo captures the spirit of how Pro Teck effectively delivers its services.” Pro Teck will also be moving its corporate headquarters by the end of the month, more than doubling its space. “Success has made this move necessary. Fortunately we were able to find a new home less than a half mile from our current location, making the transition seamless to our customers and employees. The new site provides an excellent working environment for our staff, and will allow us to meet the future needs of our clients,” said Mr. O’Grady. About Pro Teck Services: Pro Teck Valuation Services is a national provider of residential real estate valuations. With a sharp focus on data accuracy and customer service, Pro Teck delivers customized risk management solutions for funding, investing, servicing and secondary market requirements. Contact: Domenica Puleo 781.314.1627 dpuleo@protk.com

10/9/2009 - Pro Teck Exhibits at MBA National
Pro Teck continues to support the MBA and will be exhibiting at the Annual Conference held at the San Diego Convention Center Oct 11th - 13th. With more than 30 years experience in the real estate valuations industry, Pro Teck sets the standard for accurate and actionable data. Everyday, all over the nation, we help lenders, servicers, investors and underwriters confidently manage the risk associated with real estate valuation. But we’re more than just data crunchers. Pro Teck provides reliable, consistent customer service. Our seasoned judgment gives you focused, accurate data to drive financial performance Stop by to learn more about CollateralPoint™ as well as our other valuation solutions. Find out how we can help you make smarter decisions.

8/21/2009 - Pro-Teck Valuation Services Named an Inc. 5000 Fastest-Growing Company
Waltham, MA, August 21, 2009 – Pro-Teck Valuation Services, a leading real estate valuation firm, was ranked 855th in Inc. magazine's third annual Inc. 5000, a comprehensive ranking of the nation's fastest-growing private companies. In addition, Pro-Teck ranked 34th in the Boston metropolitan area and 12th in the Real Estate category. “In today’s real estate environment, the need for Pro-Teck’s services has never been greater,” said Tom O’Grady, President and CEO of Pro-Teck. “Pro-Teck’s sharp focus on accuracy and customer service has translated into 351% growth over the past three years. Our dedicated employees, unparalleled quality control processes, and committed appraiser and broker partners are the reasons for our success.” Complete results of the Inc. 5000 can be found at inc.com. About Pro-Teck Valuation Services Established in 1977, Pro-Teck Valuation Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound real estate valuation decisions.

7/31/2009 - Case for AMC's- Cont. Part 1
Waltham, MA, July 31, 2009 – In a press release last month Pro-Teck Valuation Services offered its perspective of the role of AMCs in the wake of HVCC, and their effect on the mortgage industry. We highlighted the advantages of working with an established AMC, including quality control, legal compliance and national coverage. The response to the release has been impressive. Independent appraisers, mortgage brokers, loan originators and servicers have been flooding us with questions regarding our people, processes and priorities in the marketplace. While we can't answer each correspondence individually, the below Q&A captures the most popular topics: Question 1 – How does the market know that the reviews AMCs perform ensure better quality? What are the credentials of these reviewers? This is a great question because it goes to the root of the AMC value proposition. The review is lacking if it is not completed by a trained and experienced review staff that include licensed/certified appraisers regionally located with access to all necessary tools. While we cannot speak for every AMC in the market, Pro-Teck's review personnel include appraisers with current licenses/certifications in states throughout the country. Our reviewers come from diverse backgrounds – from owning their own fee shops to former staff appraisers with lenders, due diligence firms and Wall Street firms. Pro Teck's review appraisers average 17 years of appraisal experience. Question 2 – MLS access is a key to the review process. How does an AMC provide that data within the review process without an appraiser in every zip code? Do your reviewers have access to MLS? Top AMCs that deliver services nationally must be able to research local MLS data and incorporate the information into the quality process. The solution Pro-Teck employs is locating reviewers throughout the county and maintaining active MLS membership. In addition, our Vendor Network of appraisers and brokers have access to MLS on a micro level if needed. Question 3 – Turn-times demanded by AMCs are unrealistic. What is Pro-Teck's definition of realistic turn time on an appraisal? Business processes today, at every level, are under some form of timing pressure. The mortgage origination market is the primary driver of appraisal turn-times, and is no different in its desire for "faster." The question becomes what is a reasonable time frame to complete a standard 1004? When the order process is structured properly, an appraiser should be given 2 business days from date of inspection to produce a final report. This time frame allows for a quality review and correction of any quality issues and delivery of a final product to the client. Part of the issue may be that the market desires appraisal reports that have been through a quality control process, so appraisers have to adjust to the fact that reports will be reviewed and cannot languish in a production queue. Sometimes a rush order is required to meet a client's urgent need. Like many other services, a premium is charged for a rush order and will only be accepted after an appraiser has accepted the timing set forth. The appraiser will also be additionally compensated for the rush order. Question 4 – There are many stories about AMCs using appraisers who are located great distances from the property and are not geographically competent. What is Pro-Teck's policy? Policy and procedures differ from AMC to AMC. Quality focused AMCs drive their business model to the regional level via appraiser recruiting, proximity in the order placement process and real time scoring/improvement within review. All Pro-Teck's Vendor Network appraisers work in their local marketplace. Pro-Teck scores appraisers for each assignment, with proximity to subject property being a top criteria along with quality score for past appraisals. Since local appraisers know their local marketplace (per USPAP geographic competence requirements) and can be more cost competitive with local work, it just makes good business sense to use the local appraiser.

7/31/2009 - Case for AMC's-Cont. Part 2
Question 5 – What is your compensation plan for independent appraisers? It is important to stress the added value of an AMC partner as part of an appraiser's overall successful business plan. AMCs find the clients, provide the customer service, quality control, billing, dispute resolution and insurance – leaving the appraiser more time to do what they do best, appraise residential home value. We do not discuss fee agreements with anyone other than our Appraiser Partners due to confidentiality issues. We have a standard fee structure that is flexible enough to meet the needs of our national Vendor Network. If you are an appraiser that is interested in joining our network, please visit our Vendor Signup at www.protk.com. Pro-Teck looks for quality above all else in its Appraiser Network, we believe appraisers should do the same when working with AMCs. Make sure your AMC is helping you provide the best information, adding value both to the appraisal and to your back office operations. If both appraisers and AMCs search for quality, the marketplace will benefit. About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

6/29/2009 - The Case for AMCs – A Valuation Company’s Perspective
Waltham, MA, June 30, 2009 - Much has been written regarding the role of AMCs in the wake of HVCC, and their effect on the mortgage industry. As a valuation company with over 30 years experience in appraisal management, Pro-Teck Services would like to highlight the advantages of working with an established AMC. Long before HVCC, TARP and the credit meltdown, customers saw the value of an independent review of appraisals. Some clients came to us to add fraud protection criteria to their appraisals, others for a second set of eyes to review information. What Pro-Teck was able to provide all of our clients was the added level of quality and objectivity that AMC’s are uniquely qualified to deliver. In today’s market, along with providing a “firewall” between loan officers and appraisers, your AMC should be adding quality to appraisals by: >Going beyond USPAP: Utilizing standardized qualifications and guidelines for all appraisals. These requirements often hold appraisers to a higher standard because several clients’ unique quality requirements become the common denominator. >Level 1 review: Applying scripted rules and logic to validate data. >Level 2 review: Manually reviewing appraisals by experienced regional review staff to address highlighted issues and guideline exceptions identified in the automated review process. >Using a defined Quality Assurance process that rigorously assesses the appraiser’s valuation logic and methods. >Executing a review process that integrates market and demographic data (assessor, sales, listings, listing history, market appreciation, foreclosure ratios, short sales, flips, mapping, satellite/flyover imagery and more), enabling AMCs to review appraiser data selection, accuracy and logic with a comprehensive view of local market drivers. AMCs have added benefits in the selection and management of appraisers, including: >Complex scoring models quantifying quality, turn-times, responsiveness and proximity to subject property in unbiased blind selection of the most qualified appraiser. This selection process creates a competitive market that drives excellence. >Additional protection, including blanket Errors & Omissions insurance, Auto and General liability policies and warranty programs that protect lenders and their customers. >Independent and uniform verification of license, insurance and good standing of all approved appraisers. At Pro-Teck Valuation Services we also have an Appraisal Standards Board overseen by our Chief Appraiser. The Board meets regularly to review applicable legislation, regulatory requirements, and industry standards and guidelines. The Board ensures that performance and quality standards protect our clients and their customers by seeing that any changes are seamlessly implemented and monitored across Pro-Teck’s vendor panel and review staff. No doubt, HVCC has put AMCs in the spotlight and spurred debate as to their role and value. Unfortunately, much of what has been said is biased and misinformed. An experienced AMC adds substantial value by providing consistent high quality appraisals that are uniquely independent from the influences and fraud that went unchecked in recent history. About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

6/11/2009 - Pro-Teck Services endorses Broker Price Opinion Standards and Guidelines
Waltham, MA – June 11, 2009 – Pro-Teck Services strives to present its clients with the most accurate and timely real estate valuation information available. It is in this spirit that Pro-Teck enthusiastically endorses the BPO Standards and Guidelines (BPOSG) recently introduced by the BPO Standards Board (BSB). The BPOSG provides a comprehensive framework for the preparation of Broker Price Opinions (BPOs), including best practices for the selection and utilization of comparable properties, pricing considerations, the use of photographs, and ethical and competency considerations. BPOSG is being adopted throughout the valuation industry, and Pro-Teck Services is pleased to have provided people and resources to its development. The BSB was established by the Real Estate Valuation Advocacy Association (REVAA), a nonprofit trade association dedicated to formalizing standards within the real estate valuation industry. REVAA’s mission is to promote ethical standards, political awareness and the advancement of an array of valuation methods. Jeff Dickstein, Chief Appraiser of Pro-Teck Services, commented on the importance of BPOSG. “Today the industry is looking for consistent quality in all valuation products and services. The BPOSG goes a long way in standardizing broker output and delivering defendable valuations. Pro-Teck is proud to note that 100% of its BPOs today are compliant with the BPOSG.” Mr. Dickstein also added, “Fannie Mae and Freddie Mac’s loan modification programs make significant use of BPOs. The BPOSG will help provide solid valuations for these important initiatives.” About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

6/10/2009 - Pro-Teck Services appoints new Senior Director, Business Development
Waltham, MA - June 10, 2009 - Pro-Teck Services, a leading real estate collateral valuation provider, today announced that Ronald Ahlensdorf Jr. has joined the company as Senior Director, Business Development. Ron will report to Ed Hunter, Executive Director. Mr. Ahlensdorf will be responsible for developing valuation solutions for mortgage banks, investors, lenders and servicers for Pro-Teck’s mid-west territory. “Ron joins Pro-Teck during a time of tremendous growth and opportunity,” said Mr. Hunter. His hands-on approach of tailoring programs to match client’s needs aligns perfectly with Pro-Teck’s mission of providing its customers with the residential real estate information needed to make sound valuation decisions. Ron comes to Pro-Teck with more than 17 years of real estate valuation experience, most recently with Default Servicing Technologies and Collateral Risk Solutions (CRS). About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

5/8/2009 - Pro-Teck to exhibit at DARE May 12-13
Pro-Teck Services will be a sponsor at the upcoming DARE (Distressed Asset Roundtable & Exchange) Conference, May 12 – 13. The New York Marriott Marquis in New York City will be the host location for this industry first event. Please stop by our booth to learn how Pro-Teck Services can help your company make sound valuation decisions.

4/29/2009 - Pro-Teck Services Appoints Director of Training & Professional Development
Pro-Teck Services today announced the hiring of Andrew Merz as Director of Training & Professional Development, a newly created position within the fast-growing company. He will report to Matt Jenkins, Vice President of Operations. Andrew will be responsible for creating and conducting programs aimed at improving quality and productivity through improved employee and vendor skills. This will include the development of training programs, client/vendor-facing technical documentations, on-line help, knowledge base content and other materials to support Pro-Teck’s growth. Matt Jenkins is pleased to add Andrew to his team noting “Andrew is a strategic, passionate and results-driven individual who possesses extensive customer needs evaluation skills. Bringing him on during Pro-Teck’s time of growth will pay huge dividends in customer service, vendor relations, and employee development.” Mr. Merz received his Masters degree from Arizona State University. About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

4/20/2009 - Pro-Teck Delivers HVCC Compliant Services
Pro-Teck Valuation Services announces full Home Valuation Code of Conduct (HVCC) compliance for its appraisal services. Clients using Pro-Teck to fulfill appraisals in their mortgage origination process are all compliant prior to the May 1 deadline. When asked about the current HVCC status of Pro-Teck’s clients, Ed Hunter, Executive Director at Pro-Teck stated: “While the HVCC is not complicated, there are a number of processes, assurances and requirements that can make compliance problematic. The Appraisal Management Services we offer are configured to specifically address the HVCC needs of individual clients, and meeting the May 1 deadline was imperative. We are excited to announce that all of our clients meet the HVCC requirements today.” Being compliant is only part of the requirement, the ability to demonstrate and verify that the appraisal process meets HVCC is equally important. Every client receives a compliance validation of Pro-Teck’s process. In addition, Pro-Teck has consulted with its clients on internal processes to support the HVCC initiative. Key areas addressed include appraisal portability, appraisal objectivity, communication, compensation and documentation of compliance. For more information regarding HVCC compliance and Pro-Teck Services, please contact Ed Hunter at sales@protk.com. About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

4/1/2009 - Pro-Teck to exhibit at MBA’s National Secondary Market Conference & Expo 2009
Pro-Teck Services will be an exhibitor at the MBA’s Secondary Conference, April 19-22 at the Hilton Chicago. If you’re planning to attend, please stop by our Booth #710 to learn how Pro-Teck Services can help your company make sound valuation decisions. To see full conference schedule or for more information visit: http://events.mortgagebankers.org/secondary2009/default.html

3/30/2009 - Pro-Teck to exhibit at 3rd Annual Mortgage Servicing Conference
Pro-Teck Services will be an event sponsor at the 3rd Annual Mortgage Servicing Conference, April 6-7 at the Marriott Dallas/Fort Worth Solana. If you are attending, please stop by our booth to learn how Pro-Teck Services can help your company make sound valuation decisions. To see the full conference schedule or for more information visit: http://www.sourcemediaconferences.com/MS09/speaker.html

3/30/2009 - Pro-Teck Services Appoints Richard M. Howes as Director, Insurance Business Development
Pro-Teck Valuation Services, a leading real estate valuation and risk solutions provider, today announced that Richard Howes has joined the company as Director, Insurance Business Development. Mr. Howes will lead Pro-Teck’s national expansion of its insurance property inspection services. He will report to Ed Hunter, Executive Director. “Pro-Teck is committed to bringing quality inspection services and customized solutions to the nation’s insurance carriers,” said Ed Hunter. “With Richard’s proven track record in delivering comprehensive insurance business solutions, we are confident that Pro-Teck will farther extend its growth in the national insurance inspection marketplace.” Mr. Howes comes to Pro-Teck with more than 20 years of experience in the property and casualty industry, most recently as an Insurance Solutions Director for Advanced Field Services (AFS). Prior to AFS he was a Sales Director at Midwest Technical Inspections. Richard will work out of the New Jersey office. About Pro-Teck Services: Established in 1977, Pro-Teck Services works with lenders, servicers, investors and insurance underwriters to improve risk management through superior real estate collateral information. By focusing on quality, customer service and technology, Pro-Teck Services enables its customers to make sound valuation decisions.

2/3/2009 - Pro-Teck Exhibits at MBA National Mortgage Servicing
Pro-Teck Services will be an exhibitor at this year's MBA National Mortgage Servicing Conference & Expo 2009 at the Tampa Convention Center, Tampa, FL. The expo dates are February 17 – 20, 2009. MBA's National Mortgage Servicing Conference provides you with a unique opportunity to gather with your peers to evaluate operational efficiencies, stay current on regulatory and legislative changes and develop new and competitive strategies to maximize the bottom line. If you're attending, stop by and visit us at Booth #222 and say hello to Executive Sales Director, Ed Hunter; Sales Director, Doug Jankovic and Marketing Manager, Domenica Puleo. To see the full schedule or for more information visit http://events.mortgagebankers.org/servicing2009/default.html

10/30/2008 - Pro-Teck Exhibits at Valuation 2008 Expo
Pro-Teck Services will be an exhibitor at this year's Valuation 2008 Expo at the Flamingo in Las Vegas, NV. The expo dates are November 10 - 12, 2008. This is by far one of the largest events held annually for real estate appraisal professionals. If you're attending, stop by and visit us at Booth #204 and say hello to Chief Appraiser, Jeff Dickstein; Vendor Relations Manager, Lory Gonsalves and Marketing Manager, Domenica Puleo. FHA is taking off. Sign up now or stop by the booth to learn more about Pro-Teck’s increased growth in FHA business. To see the full schedule or for more information visit http://2008.valuationexpo.com/schedule.asp

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.