|[November 12, 2012]
Stewart Global Solutions® Designs Formula Valuation System for Lesotho
HOUSTON --(Business Wire)--
Stewart Global Solutions, a wholly owned subsidiary of Stewart
Information Services Corporation (NYSE: STC), was commissioned to
design a Formula Valuation System (FVS) to value properties and estimate
potential ground rent revenue in Lesotho, Africa, a nation of 1.9
million people, geographically surrounded by South Africa.
Stewart was issued a sub-contract by Land Equity International (LEI) as
part of its contract with the Millennium Challenge Corporation and the
Government of Lesotho to integrate cadastral maps and land records,
strengthen the institutional and human capacity of land administration
and improve land valuation for purpose of ground lease administration in
"Stewart Global Solutions is pleased to have played a part in this
important work in Lesotho," said Jill Urban-Karr, executive vice
president of Stewart Global Solutions. "Improving land valuation and
strengthening land administration is a key step in developing a viable
economic system. We look forward to seeing the long term benefits of
Stewart's senior project manager, Dr. Jerome Anderson, began the
two-month project by reviewing the current valuation methods and
collecting data on nearly 500 commercial and residential properties.
Using the property data collected, Stewart built a fiscal cadatre and
worked with local appraisers to design a valuation model for the land,
testing the model against the pilot fiscal cadastre, and using the FVS
to estimate the potential ground rent. Stewart also prepared a plan for
the full implementation of the FVS.
About Stewart Global Solutions
Stewart Global Solutions, a division of PropertyInfo Corporation, a
Stewart company, was created to assist nations with their land
administration and modernization projects. Working with industry-leading
business partners, Stewart Global Solutions delivers comprehensive
solutions that result in transparent, equitable, reliable and accurate
land records. More information can be found at http://www.stewart.com/global-solutions.
Stewart Global Solutions is a division of PropertyInfo Corporation, a
wholly owned subsidiary of Stewart Title Company. Stewart Title Company
is a wholly owned subsidiary of Stewart Information Services Corp.
(NYSE-STC), a customer-focused, global title insurance and real
estate services company offering products and services through our
direct operations, network of approved agencies and other companies
within the Stewart family. Stewart provides these services to homebuyers
and sellers; residential and commercial real estate professionals;
mortgage lenders and servicers; title agencies and real estate
attorneys; home builders; and United States and foreign governments.
Stewart also provides loan origination and servicing support; loan
review services; loss mitigation; REO asset management; home and
personal insurance services; tax-deferred exchanges; and technology to
streamline the real estate process. Recognized in 2012 by Forbes®
as one of the Most Trustworthy Companies in America, Stewart offers
personalized service, industry expertise and customized solutions for
virtually any type of real estate transaction, and is the preferred real
estate services provider. More information can be found at http://www.stewart.com/news.
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