At that time, no one would have believed what a tree this little plant would grow into

Every HypZert valuer knows her very well: Annett Wünsche, Department Head Valuation at the Association of German Pfandbrief Banks (vdp). Having been with the vdp since 2007, she not only knows HypZert inside out, but above all the regulatory basis for the work of HypZert valuers. We are particularly pleased to be able to present her own HypZert story today:

25 Years of HypZert!

25 years of HypZert! This also means 25 years of a very close cooperation between HypZert and the Association of German Pfandbrief Banks (vdp). The vdp - or rather the Association of German Mortgage Banks at that time - can be traced back to the idea of valuer certification and ultimately to the founding of HypZert. It was here - in the vdp Committee Valuation - that the so-called quality offensive started. At that time, no one would have believed what a tree this little plant would grow into. Our thanks and appreciation go to the founding fathers who laid the foundation for HypZert with their firm belief in the idea of bringing more quality to credit valuation and the courage and perseverance to ultimately put the idea into practice.

When I started at the vdp in 2007...

At the time of the founding of HypZert, I had not yet heard of the Pfandbrief, the mortgage lending value or HypZert; my intellectual challenges lay more in the discussion of curves in mathematics or the interpretation of Shakespearean sonnets as part of my preparation for the Abitur (university entrance qualification). When I started at the vdp in 2007, HypZert was already established, the 10th anniversary had long been celebrated, about 750 valuers belonged to the HypZert family, the HypZert Annual Conventions were already large events with about 600 participants. This success alone was impressive; I did not realise that this was by no means "the end of the line".

HypZert stands for constantly new ideas and a look to the future.

Now HypZert is celebrating its 25th birthday! It has long since ceased to stand "only" for valuer certification itself, but also for comprehensive specialist know-how in the field of real estate valuation - created in particular by the dedicated work of so many valuers in the Professional Groups - excellent networking and an international reputation. Deeply rooted in a value concept that is over 100 years old - the mortgage lending value - HypZert never seems dusty or antiquarian. On the contrary, HypZert stands for constantly new ideas and a look to the future, be it the commitment to inspire young people for real estate valuation through cooperation with universities or the expanded focus on quality in valuation in the small loan sector with e-learning offers. HypZert did not need a COVID 19 pandemic to open up to modern possibilities of knowledge transfer such as e-learning platforms.

A recognised, established and self-confident branch has developed

The HypZert certification and thus the creation of a uniform quality standard for valuers working in the banking sector has become an indispensable part of the world of our member institutions at the vdp and far beyond in the banking industry. However, it does much more than provide proof of qualification. Ultimately, it has contributed to the fact that appraisers in the credit valuation industry are held in much higher esteem due to this very quality. From a marginal area in the entire process chains of credit institutions, a recognised, established and self-confident branch has developed whose importance is now not limited to the mere preparation of valuation reports, but is also appreciated as a valuable source of real estate know-how. 

The MLV Certification

I personally look back on almost 15 years of excellent cooperation with HypZert and look forward to many more years. My highlight of the cooperation was undoubtedly the development of the HypZert (MLV) certification and the training to prepare for this certification examination, especially for valuers who determine mortgage lending values outside Germany. A concept quickly developed from an idea in our vdp working group International Valuation that the market know-how of local valuers had to be brought together with knowledge of the German mortgage lending value methodology - a matter of course in Germany, but abroad, the mortgage lending value appraisals of valuers in Germany had until then mostly been prepared on the basis of the market value appraisals of their foreign colleagues. We believed in a small but fine first training round with hopefully 10 participants and quickly had to rent larger rooms because the demand was three times as great. In the meantime, more than 100 HypZert (MLV) valuers belong to the HypZert family, a great enrichment! HypZert was already well networked internationally before, but it was only through this that the very basic idea of HypZert - certification - could be carried to Europe and even beyond. Every year I am delighted to accompany valuers from numerous countries as a lecturer in the MLV training on their way to MLV certification. Whether the participants are just as happy, I sometimes doubt, since they have the pleasure of hearing from me the training part with all the theory and the regulatory background of the MLV appraisal, which certainly seems a bit dry now and then. It is also a pleasure to hear English, French, Dutch... conversations at one table or another at the HypZert Annual Convention, to meet the participants in the training - now certified - again and to observe how small HypZert families form and grow in European cities and how the know-how around the mortgage lending value is located there.

Having ideas is one thing, but also being full of drive to implement them, that is the merit of the entire HypZert team around Tanja Reiss and Reiner Lux. Stay true to your roots, the quality of certification on the basis of sound methodological principles of credit valuation, they are HypZert's flagship and recipe for success. And continue to develop this basic idea in its many ramifications in a modern and innovative way.

HypZert, that is also all the valuers. I would also like to extend my heartfelt thanks to all of you, especially to those who - whether they have been with us for a long time or only recently - contribute in the Professional Groups, Regional Groups etc. to helping HypZert and thus ultimately also us at the vdp to fill this 25-year-old idea of the "quality offensive" with life. I am very much looking forward to seeing you again in person at the next HypZert Annual Convention to celebrate 25 years of HypZert with you, to talk shop, to discuss, to laugh and, of course, to provide you once again with somewhat dry, but now necessary information about innovations from banking regulation on real estate valuation. 

We thank Annett Wünsche for this wonderful text and have nothing to add to it, except that we look forward to continuing our so successful cooperation with the vdp!