Training series provides appraisal professionals insight into the regulations
Palm Coast, Fla. — January 10, 2012 — ACI, a leading innovator in valuation technology for the mortgage industry, has educated more than 10,000 appraisers on the fundamentals of the Uniform Appraisal Dataset (UAD) and Uniform Collateral Data Portal® (UCDP®). Participants in the webinars were given the tools necessary to acquire working knowledge of the UAD. This effort is the latest example of the company’s commitment to keep appraisers current on industry changes that affect their business.
“We’ve trained thousands of appraisal professionals during the UAD rollout to ensure they are prepared to understand the UAD and apply that knowledge when writing appraisal reports,” said George Opelka, senior vice president for ACI. “Our curriculum extended beyond the technology and also provided insight into the new requirements and what they mean to appraisers. This training initiative delivered on both of those objectives.”
The training series provided appraisers with a primer to UAD and addressed several questions including, What is MISMO-XML?, What is UAD?, and Why are Fannie Mae and Freddie Mac instituting these new programs?
The webinars were designed to be brief but filled with information to help appraisers perform their jobs more efficiently. The goal of the classes was to provide an understanding of the key challenges that appraisers face when preparing and delivering appraisal reports in a compliant manner.
“It’s always a pleasure to work with an industry leader like ACI. Our webinar participants learned how to adjust to the new UAD reporting requirements from a practitioner’s perspective,” said Rich Heyn, SRA, who, with Dawn Molitor-Gennrich, SRA, developed and presented ACI’s “What Is UAD?” webinars. Dawn Molitor-Gennrich and Rich Heyn are co-owners of Heyn, Molitor-Gennrich, LLC, a company that specializes in developing and delivering property-related education.
In addition, the “How to Comply with UAD Using ACI Software” session covered tips and techniques to help create a UAD-compliant appraisal report and demonstrated the UAD compliance dialogue windows, picklists, field-level validations (to help ensure that reports remain compliant), and optional guidance from GSE UAD Appendix D.
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.aciweb.com) is a division of Verisk Analytics (Nasdaq:VRSK).