The Addendum Q2 2023

July 7, 2023

Our appraisers are among the hardest working in the industry. We regularly share tips and best practice ideas to help. Follow us on LinkedIn to stay up-to-date on the latest ACI announcements, tips & tricks, industry news & insights, events, and more.

UAD & Forms Redesign

ACI is fully committed to the new UAD & Forms Redesign project and ensuring that our customers are not just covered, but actually have the best software in the business with tools to perform high-quality appraisals with efficiency and proficiency.

What does this mean? The technical specifications released by Fannie Mae and Freddie Mac can be broken down into two primary categories. One category is all about the Data Structure, both technically in the MISMO XML file, and practically or visually in the report. The other category is all about the actual report, an all New URAR.

Here are a few key points to keep in mind about the Data Structure:

1) The new UAD is designed to minimize the amount of explanation or commentary required in an appraisal report by adding and updating individual data elements into discrete data points that can be more easily consumed by machines and models. The benefit is that appraisers can spend less time writing lengthy commentary to describe factual and objective characteristics, or factors. Additionally, AMCs and underwriters spend less time looking at that commentary or trying to find the specific comment they’re looking for. Theoretically, this should help reduce the quantity of revision requests appraisers get from their clients and improve turn-times underwriting an appraisal. All of this translates into faster origination speeds for consumers.

2) The improved data structure also allows technology companies like ACI to leverage more third-party data sources to help appraisers populate these new discrete data elements more completely and better enable automation of the data gathering. This allows appraisers to spend less time hunting for the data they need and more time analyzing that data to help support a credible opinion of value for their clients. 

Extended Live Chat Hours

Day or night, you can rely on our OneCall team to assist with all your sales and technical needs. You can now chat with a live OneCall agent Monday through Friday, 8am ET to 12am ET, excluding holidays. Our Chat with an Expert feature is found on the bottom right of our website.

Did you know you can view multiple pages and even reports at the same time? When in an opened report, go to the components list on the left-hand side. Right-click on the form icon and navigate to: New View > Multi-monitor. Your report will pop up in another window and you can drag to another monitor.

Join ACI in Las Vegas August 7-9 to celebrate the 20th anniversary of Valuation Expo! Meet the ACI team at Booth 31 to learn about SureStep® mobile and play in the Valuation Expo Open. We are excited to share these summer savings! Receive $50 off registration with discount code: ACI2023Register hereOffer ends July 15th.

About Me
: In the 37 years with ACI, I have worked on the full spread of software that ACI has produced over the years, DOS desktop software using floppy disks, the implementation of the early digital cameras, the current Windows software, ZooQueue, SPOT PDF report file translations, and Sky Web software. I have, until recently, been the primary developer of the Review Master rules and Forms. The technology growth from when I started at ACI has been astounding and at times overwhelming. When I started university, the technology was large business centers and main frames; Many assignments were done on punch cards. By the time I graduated, the IBM PC was just introduced and personal computers took off like wild fire. I have loved being a programmer my entire career. There is never a boring day, there are always new features and products to be developed, and new technologies to be discovered, analyzed and put into use.

I was born in the South Side of Chicago, and grew up in Southwest Michigan and married my wife who I have known since elementary school. I asked her out at her 16th birthday party and she laughed in embarrassment. I asked her again after I ran into her after college, and she happily accepted. We have three children who are all fine young adults, and our first grand-child who is now 7 months old.

Movies: Harry Potter, Lord of the Rings, Avatar, Inception, and always ready to watch a comedy, action, adventure.
TV: Ted Lasso, and veterinarian shows like Dr. Pol, college sports. In the past I was into Star Trek, CIS, NCIS, and NASCAR
Books: Early in my life – Steinbeck and Hemingway. In my adult life – science fiction and fantasy, especially with dragons.
Hobbies: Motorcycling, Fishing, Woodworking
Sports: I am a life time Chicago Cubs fan (to the dismay of all my south side relatives). I am also a University of Florida sports fan – Go Gators!
Music: 70’s and 80’s rock. I’m particularly fond of Pink Floyd and Queen.
Heroes: Bill Gates, Steve Wozniak, Steve Jobs
Food: A charcoal/wood grilled med-rare steak topped with sauteed mushrooms, with a baked potato and salad.
Measurement of Success: A happy, healthy and thriving family.