Primitive Ellie Mae CEO Jonathan Corr has joined the board of directors for appraisal technology company Reggora.
Corr spent 18 years at Ellie Mae earlier than announcing his retirement in September after the corporate modified into once got by Intercontinental Exchange. Joe Tyrrell, Ellie Mae’s chief operating officer, succeeded Corr as president of ICE. Corr helped birth Ellie Mae’s neatly-liked Encompass platform and noticed earnings leap from $10 million to $1 billion for the duration of his tenure.
“Reggora is uniquely positioned to order major alternate to the appraisal commerce,” mentioned Corr. “The corporate is taking a clear ability to fixing a historical misfortune within the mortgage mortgage direction of, and I am proud to affix within the mission to order consistent two-day appraisal flip times.”
Corr will work closely on the board with Regorra’s management crew — alongside side co-founders Brian Zitin and Will Denslow.
“We’re honored to work with Jonathan and leverage his tremendous commerce skills at Reggora,” mentioned Zitin. “After elevating our Collection B earlier this twelve months, we were procuring for a further chief who would possibly perhaps perhaps well well wait on Reggora continue to order a excessive-quality solution and be a first-rate within the appraisal online page.”
In an interview with HousingWire, Zitin mentioned Reggora is “hyper-focused” on streamlining the general appraisal direction of, and Denslow mentioned digital label determinations steadily is the norm sooner in set apart of later.
“We’re livid to wait on lenders become extra strategic about the map they put together their appraisal operations,” Denslow mentioned. “The map forward for mortgage would perhaps be digital, unlocking original systems to leverage records and analytics to vitality issues similar to appraisal provider option, possibility administration and quality assurance.”
Corr, alongside with Ellie Mae founder Sig Anderman, modified into once an early proponent for automating the mortgage direction of. In an interview with HousingWire closing twelve months, Corr described the pleasure he and Anderman felt as they looked to disrupt a stale direction of.
“We noticed the web and the technology spherical it as a automobile to wait on drive a greater skills the general device spherical — for consumers, brokers and investors. We noticed an very excellent opportunity to prefer friction out of the direction of and transfer from a disconnected, paper-encumbered device to a extra client-friendly device,” Corr mentioned.
Corr joins Reggora at a entertaining inflection level for property valuations. In December, after a twelve months of granting appraisal flexibilities on account of the pandemic, the FHFA launched a Request for Enter on GSE appraisal modernization efforts.