Appraisal management company taking over AI Direct Connection business

Property Solutions Network, Inc., which was doing business as AI Direct Connection, is winding down operations as a result of a change in business plan, officials for Real Estate Appraisal Services, Inc. (REAS) and the Appraisal Institute told AI Direct Connection appraisers.  The book of business built through AI Direct Connection is being picked up by REAS, a wholly owned appraisal and appraisal management subsidiary of Charter One Financial Corporation.

Property Solutions Network, Inc.  was originally formed by Charter One and AI Holdings, Inc.  as a way to funnel business to Appraisal Institute members. “REAS has managed the process flow for AI Direct Connection since the company’s inception, is committed to maintaining the high standards established for this business, and will carry on the AI Direct Connection commitment as the business is transitioned to REAS,” Megan Harbath, vice president, regional manager for REAS and John Ross, executive vice president of the Appraisal Institute, said.

“The Appraisal Institute supports REAS in carrying on this business and encourages you to work with REAS on any assignments that may be referred to you,” the notice said.