2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
November 2021
December 2021
January
2022
February
2022
March
2022
Ongoing
- John Hamameh takes the executive lead on building a staff model
- Class Valuation hires Chad Stanius from FNMA as SVP of staff appraisers, to lead the program under John’s leadership
2021
Class establishes the first three PODs and 22 standalone appraisers
2021
Class completes acquisition of MetroWest, an appraisal firm with a large staff-appraiser base, to accelerate the program.
2022
Class integrates MetroWest appraisers into the Class platform; recruits from Metro West standalone appraisers to transition into POD roles
2022
Class has 130 standalone appraisers and 15 PODs, with capacity for up to
45 trainees
2022
Continues developing and expanding both the standalone and POD model. Looking forward to its first trainee graduating as a standalone appraiser
Ongoing
Shaping the future of appraisals
It has been quite the ride for the mortgage space over the last two years. Despite ominous predictions at the outset of the pandemic of the bottom falling out of the housing sector, the number of applications flying across the desks of mortgage professionals has been unparalleled.
To say the mortgage and housing sector has been on fire is an understatement. One area, however, that has felt the heat in a less-than-positive way is the appraisal industry.
Already facing a shortage of boots on the ground leading up to the pandemic, the ongoing realities of routine lockdowns, social distancing, and the dizzying number of appraisals that have been required to match mortgage requests have put considerable strain on many.
Along with the difficulty of carrying out on-site property appraisals over the course of the pandemic, the industry’s general reluctance to adopt new technology to enhance the appraisal process has added fuel to the fire.
For John Hamameh, chief legal and compliance officer with Class Valuation, looking at implementing and using new appraisal technology platforms, as well as actively leading the crusade to attract and hire new blood to the appraisal industry, forms the basis of the work that he does every day.
Being directly responsible for all legal issues and compliance guidelines on behalf of Class Valuation, a leading direct appraisal management company, has led Hamameh to take a defining role in overseeing the implementation and growth of its staff appraiser model.
“We have seen such a shortage of appraisers,” Hamameh says.
“This model will also hopefully be a big contributor to bringing more diverse candidates into the industry as well, which we can all agree is much needed.”
Legal roots and business beginnings
The path to the appraisal field began with a trip through the corridors of law school for Hamameh.
A law degree, however, was only a stepping-stone toward the hybrid business and law career that followed.
Having held a keen interest in real estate for years before turning his attention to his legal studies, Hamameh bought his first investment property at the age of 17 and went on to earn his real estate sales license at 18, as well as his broker’s license.
“I have always been focused on real estate and I have always been in the real estate space,” Hamameh reflects.
After graduating with a law degree, Hamameh went on to open his own legal firm, focusing on transactional real estate law.
It was here that Hamameh was introduced to the former CEO of Class Valuation and became curious about the appraisal end of the mortgage game.
“I went home and did a bunch of research and tried to figure out if it was a legitimate business. I learned that there was a whole little cottage industry to the mortgage space,” Hamameh says.
Fast-forwarding 10 years, Class Valuation has grown to over 600 employees from the original 20 or so who were there when Hamameh chose to take the leap into the appraisal space.
Settling into the role of legal counsel as well as spearheading Class Valuation’s staff appraiser program has propelled Hamameh into a leadership position.
“I don’t necessarily view myself solely as an attorney; I view myself as a business executive who happens to be a licensed attorney,” Hamameh says.
Leading on the appraisal path
When asked what makes a good leader, Hamameh reflects on his answers.
“I think a good leader needs to understand their strengths and weaknesses,” he says.
“You also have to be humble and not let ego get in the way of success.”
“As an organization, you typically have one common goal that the entire team should be working toward. If we all focus on what is best to achieve that goal, then it should not matter whose idea it was or who gets credit or anything like that. The only thing that matters is that the goal be met,” he adds.
Leading by example
Class Valuation, Hamameh points out, bases the work that it does on this basic premise of adaptability and openness to innovation.
“We are solutions-oriented. Our focus is always on identifying areas that we can improve on. So, when [we] focused on the appraiser shortage, the POD model was a no-brainer to us,” Hamameh states.
The biggest takeaway for Hamameh?
“We understand our industry is changing; we want to be the ones leading that change – not only by introducing technology that will help modernize the space, but also by scaling our staff appraiser program to bring new and diverse appraisers into the industry.”
Spotlight
“So, part of the reason we decided to go down the path of building out the staff model is not only to be able to provide faster and more efficient appraisals for our clients, but also to be able to establish a ‘POD model’ which will help bring new blood and new entrants into the appraisal industry,” he adds.
By pairing off supervisory appraisers with up to three new trainees, Class Valuation’s POD model is paying a competitive and incentivized wage to the trainees and supervisors.
“It [the POD model] is essentially a career pipeline from the beginning as a trainee, to then becoming a licensed appraiser, then eventually becoming a supervising appraiser who can take on trainees of their own,” Hamameh explains.
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 10 mortgage lenders and has been recognized as a top place to work, along with receiving many other industry awards. Founded in 2009, Class Valuation is headquartered in Troy, Michigan.
Company Profile
1.9 million
Number of appraisals Class Valuation has completed
20,000
Number of appraisers Class Valuation manages, including 130 staff appraisers
2
Years over which Class Valuation more than doubled in size
60
Number of trainees for which Class Valuation has capacity in its two pods
2009
Year Class Valuation was established
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
years in the industry
20
Tenure at current position
2017 - Present
BAsed In
Toronto, Ont.
favourite quotes
“I view myself as a business executive who happens to be a licensed attorney”
“You miss 100% of the
shots you don’t take”
“Don’t let fear of failing outweigh the joy
of success”
John Hamameh
Chief legal and compliance officer with Class Valuation
Leading on the appraisal path with openness in a changing industry
Read on
“So, part of the reason we decided to go down the path of building out the staff model is ... to be able to establish a ‘POD model’ to help bring new blood and new entrants into the appraisal industry”
John Hamameh,
Class Valuation
“I don’t necessarily view myself solely as an attorney; I view myself as a business executive who happens to be a licensed attorney”
John Hamameh,
Class Valuation
Share
– Wayne Gretzky
Companies
People
Newsletter
About us
Authors
Privacy Policy
Conditions of Use
Contact Us
RSS
Copyright © 1996-2022 Key Media, Inc.
US
CA
AU
NZ
UK
News
Mortgage Industry
Best in Mortgage
Specialty
TV
Resources
IN Partnership with