GPAR™ and AI Reports™ Provide ACI Appraisers with Choices
for Alternate Use Appraisal Assignments
March 6, 2006, Palm Coast, FL. ACI, a leading innovator in technology for the valuation industry, today announced the release of GPAR™ (General Purpose Appraisal Report) and AI Reports™ as alternate-use valuation products that are available in ACI 2006, the latest release of ACI’s signature appraisal software.
The reasons behind the development of alternate valuation reports are the changes necessitated by Fannie Mae’s new forms. The 2005 Uniform Residential Appraisal Report (“URAR”) is limited to appraisals involving lenders and lending transactions; as a result, the new URAR is not appropriate for appraisals where the intended use involves divorce, estate, pre-listing, pre-purchase or any use other than lending. As a result of these changes, the Appraisal Institute developed AI Reports™ and ACI developed GPAR™.
“AI Reports is an excellent vehicle for reporting assignment results in a variety of situations,” said Rich Heyn, SRA, and Director of Compliance for ACI. “Still many of our clients wanted something that ‘looked and felt’ more like the new URAR and had a high level of data file compatibility for easy ‘cloning’ between the two formats. We responded with GPAR, which is essentially a condensed, more logically sequenced version of the URAR with a very ‘appraiser-friendly’ set of assignment conditions and plenty of room for expanded scope of work disclosure.”
“GPAR is ACI’s answer to an industry need and a reinforcement of our commitment to stay in touch with appraisers at the individual level. We are pleased with the final result and want our clients to know that we intend to continue providing products that provide answers to the issues that arise as the industry continues to evolve,” said George Opelka, Vice President of ACI.
About ACI
ACI, a pioneer in crafting technology solutions for the valuation community, has gained industry-wide recognition and support from leaders in the field. ACI’s highly scalable appraisal solutions ensure a partnership tailored to the needs of the organizations it services. 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, the flexibility provided gives organizations the means for processing appraisals and managing exceptions in a consistent and efficient manner.
Headquartered in Palm Coast, Florida, ACI’s management and development team garner the type of experience coveted by decision makers responsible for bringing synergy to their daily workflows and processes.