*Read Appraisals With Ease*
**UAD Help Arrives**
***The new appraisal standards have some pulling out their hair, but fear not, technology can help. For example, ACI, a valuation technology provider for the mortgage industry, has launched 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. Here’s how it works:
****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 PARLogic rules, a 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 QuickView 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.”