Palm Coast, Fla. — December 1, 2011 — ACI, a leading innovator in valuation technology for the mortgage industry, announced at the Valuation Expo 2011 the release of a new Appraisal Reader powered by Appraisal.com. The new technology helps lenders and reviewers view and validate appraisal reports prepared by any appraisal software vendor that supports the new MISMO XML format.
Appraisal.com is an ACI brand that serves the appraiser and lender communities. The Appraisal Reader is compact and provides mortgage professionals with a critical tool to conduct a review while keeping all the components of the appraisal report intact. The review is performed using ACI’s PAR® Logic rules, a comprehensive library that checks the appraisal report for compliance. Custom client-specific rules can also be applied on demand using PAR Logic to highlight errors and omissions.
The Uniform Appraisal Dataset (UAD) information embedded in the PDF appraisal report is also available in a concise, organized manner using the QuickViewTM; Summary Report within the Appraisal Reader. The QuickView Summary Report presents the UAD information in a form and helps streamline the review and validation process prior to submission to the Uniform Collateral Data Portal® (UCDP®).
“With the advent of the UCDP, ensuring regulatory compliance before submitting appraisal reports to the portal is increasingly important for lenders and appraisers,” said Dave Roberts, president of ACI. “We’ve developed a sophisticated, yet free, solution that enables lenders, credit unions, and community banks to easily view and validate MISMO XML appraisal reports using Appraisal.com technology.”
ACI, a pioneer in crafting technology solutions for the mortgage valuation community, has gained industrywide recognition and support from leaders in the field. ACI’s highly scalable appraisal solutions are tailored to the needs of the organizations ACI serves. The ACI client base features many of North America’s premier lenders, national appraisal companies, and real estate brokerage firms. From connecting appraisers nationwide to streamlining quality control, ACI enables organizations to process appraisals and manage exceptions in a consistent and efficient manner. Headquartered in Palm Coast, Florida, ACI (www.aciwebcom) is a division of Verisk Analytics (Nasdaq:VRSK).
Senior Vice President, ACI