ACI format identified as an accepted appraisal delivery format
July 14, 2009, Palm Coast, FL. ACI, a leading technology innovator for the valuation industry, has announced its support of Fannie Mae’s Announcement 09-14. The announcement requires lenders to submit appraisal reports electronically for all loans sold to Fannie Mae beginning March 1, 2010. The appraisal delivery initiative benefits consumers and the industry by mitigating the effects of poor appraisal quality and appraisal fraud.
Based on Fannie Mae’s Announcement 09-14, the ACI format has been identified as one of the accepted standards. Compliant with the new Fannie Mae requirement are ACI2009™ (ACI’s flagship appraisal software), and Lighthouse™ (ACI’s universal appraisal delivery program that enables appraisers to open, review, and deliver appraisals created by many of the industry's appraisal software programs).
ACI’s appraisal format has been adapted and recognized as a delivery standard by many of the nation’s largest appraisal firms and vendor management companies. The ACI format provides security and the ability to quickly and efficiently perform appraisal reviews using ACI’s PAR Logic® rules engine — one of the industry’s most widely used underwriting and fraud mitigation platforms.
“ACI’s technology is continually designed with a forward-thinking methodology, allowing our clients to easily comply with the industry as changes occur. In this case, our clients will not have to purchase any new technology or worry that their reports are not compliant when the new requirement goes into effect,” said
ACI President Dave Roberts.
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 the company 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.
ACI is a division of ISO, a leading source of information about risk. ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. The company draws on vast expertise in actuarial science, insurance coverage, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.