Press release

Class Valuation Adds Tim Staudenmaier to Leadership Team as Director of Digital Strategy

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Class Valuation, a top nationwide real estate collateral valuation and
appraisal management company to the residential mortgage industry,
announced today that Tim Staudenmaier, former Fannie Mae Manager of
Collateral Strategy and Innovation, has joined its team of industry
veterans as Director of Digital Strategy. He will be focused on
collateral risk by driving technology and process to support valuation
modernization and broad adoption within the mortgage industry.

As Class Valuation continues to extend their focus to modernization
strategies within the valuation space, Tim will play a critical role in
how new PropTech will be applied to analyze collateral risk. “Thanks to
emerging technologies allowing full digitization of the home, a true
digital fingerprint will soon follow the history of every property for
greater insight that cannot be delivered by data alone,” said
Staudenmaier. “I am confident Class Valuation is leading our industry
into the future of how we define collateral risk through enhanced data
collection processes and technology and am excited to join such a
forward-thinking company.”

Class Valuation is developing new capabilities, leveraging technologies
like computer vision and Geographical Information Systems (GIS) to
create a more informed and data-rich property set. As part of this, Tim
and the Class Valuation team will partner with all industry stakeholders
– policy makers, lenders, appraisers, and borrowers – to educate and
finalize how these tools will ultimately be deployed to drive Thoughtful
Change™ that benefits the entire industry from loan origination to the
capital markets and rating agencies.

Prior to joining Class Valuation, Tim served as manager of Fannie Mae’s
Single Family Collateral Strategy and Innovation team where he helped
design and roll out Collateral Underwriter, Fannie Mae Connect
collateral reporting, and Appraisal Process Modernization. Prior to
Fannie Mae, Tim spent ten years as a residential and commercial fee
appraiser and six years in appraisal review and collateral underwriting.
His extensive knowledge and industry background will prove to be
invaluable as he focuses on market adoption of new collateral risk tools.

“Class Valuation is focused on service first, speed, and unbiased
transparency throughout the valuation process. As a result, we will
continue to innovate our world-class customer service model while also
focusing on PropTech to help service providers better and more
consistently execute home data collection,” said Class Valuation’s Chief
Executive Officer, Mike Detwiler. “The addition of Tim to our leadership
team will help us define and implement our rapidly growing technology
ecosystem while partnering with industry stakeholders. We look forward
to sharing more of our work with the industry as we finalize the
creation of an unbiased, more accurate, and more efficient fingerprint
of the home.”

About Class Valuation

Class Valuation is a top nationwide Appraisal Management Company (AMC),
delivering outstanding quality and service to every client. The company
is committed to combining the best people, products, processes, and
technology available to help lenders make more homeownership dreams come
true. Class has consistently been ranked highly in client service by
several of the nation’s top ten mortgage lenders and has been recognized
as a top place to work, along with receiving many other industry awards.
For more information, please visit www.classvaluation.com.