Two senior staff members of UKValuation, a subsidiary of Countrywide Financial Corp, have jumped ship to join rival automated valuations company Hometrack.
The provider of automated valuations revealed earlier this week that chief executive officer Graeme Winser and sales director Guy Weightman recently resigned.
It has now emerged that both men have joined Hometrack, UKValuation’s biggest rival with which it shares the majority of the UK AVM market.
In 2003 UKValuation lost its founder and chief executive officer Mark Witherspoon to Hometrack. He has since resigned from the company and is currently on gardening leave.
More recently, Simon Hinshelwood, CEO of Countrywide subsidiary Global Home Loans, left to head up Lehman Brothers UK mortgage businesses.
Following his departure, Countrywide was rumoured to be losing its appetite for the UK mortgage market despite previously expressing an interest in setting up a sub-prime lender.
However, a spokesman for Countrywide says it is business as usual for the entire group. He adds: We have just appointed Nigel Tobin as chief executive officer of UKValuation, as well as CEO of Global Home Loans, and will shortly be announcing some new clients.
Winser and Weightman will officially start at Hometrack in August.
Winser has been appointed director of new market strategies and is responsible for the development of new markets and Home Information Pack strategies for HIP providers, surveyors and IFA networks.
His role also encompasses the representation of Hometrack within the Association of HIP Providers and other trade bodies.
Weightman has been appointed sales director within Hometracks lending solutions team with specific responsibility to support the director of new market strategies.
This involves creating the sales strategy for AVMs within the new HIP environment and focussing on HIP marketplaces such as HIP Providers, surveyors and IFAs, and also within the prime and sub-prime marketplaces.
Giles Mackay, chairman of Hometrack, says: Hometrack is cementing its position as the leading provider of AVMs to the mortgage markets by appointing the most experienced personnel within the AVM space.
We are delighted that Graeme and Guy will be joining the team which reinforces our commitment to our customers to maintain the UKs premier model in terms of accuracy, performance and functionality.