Federal Agricultural Mortgage Corp. (Farmer Mac) and Conterra Asset Management announced the recent launch of their joint venture, Contour Valuation Services (Contour).
Contour provides fee appraisal services to agricultural lenders and landowners throughout the United States. The companies have engaged Alan Schuiteman as its president, responsible for overseeing the management and operations teams. Schuiteman is an appraisal industry veteran with more than 20 years in the ag appraisal business.
Contour was created in response to feedback from Farmer Mac-approved lenders seeking efficient access to appraisal services with faster turnaround times. Contour aims to improve appraisal access for agricultural lenders, particularly in geographic areas with the greatest need.
“Surveys of our lenders have consistently identified appraisal services as a seriously lacking resource in many agricultural regions throughout the country, and yet, it is a vital necessity when helping customers obtain loans and lock in Farmer Mac’s favorable rates,” said Tom Stenson, executive vice president and chief operating officer of Farmer Mac. “We believe offering ag appraisal services as an option to all of our lenders — no matter where they reside — is a natural extension of the valuable programs we already provide, and reaffirms our company’s steadfast commitment to serving our country’s farmers, ranchers and rural borrowers.”
Headquartered in West Des Moines, Iowa, Contour is staffed with experienced agricultural appraisers across rural America. Contour features online ordering and delivery of appraisals, as well as GIS mapping to provide a greater customer experience.
“I am excited to be part of the Contour team to bring this important service to not only Farmer Mac and Conterra lenders, but to anyone needing an ag appraisal,” Schuiteman said. “Our appraisal staff is highly qualified over a variety of use types across this nation, including permanent plantings, farm and ranch land as well as highly improved properties such as dairies and wineries.”
“We are delighted to collaborate with Farmer Mac to bring this much-needed service to rural communities across the country,” Conterra Asset Management President and CEO Paul Erickson said. “This joint venture further supports Conterra’s goal of providing a full suite of products and services to agricultural lenders. Readily available, high-quality real estate appraisals are of significant importance in agricultural lending as lenders strive to meet the expectations of their customers.”