World News: 17:00 GMT Monday 20th March 2017. [ACI via Businesswire via SPi World News]
ACI, a leading provider of software solutions for the valuation industry and a member of the First American family of companies, today announced that national appraisal management company (AMC) and innovative provider of appraisal management software InHouseUSA has chosen ACI Sky for appraisal delivery and review. The cloud-based ACI Sky platform integrates seamlessly with Connexions, the proprietary appraisal order system used by appraisers at both InHouseUSA and its parent company Nationwide Appraisal Services (NAS), for faster and more efficient appraisal processing and review.
Two important components of the ACI Sky platform are Sky Delivery and Sky Review.
“InHouseUSA’s appraisal review process has been significantly streamlined with Sky Delivery and Sky Review, resulting in measurable productivity improvements,” said George Opelka, senior vice president of ACI. “Further, its national network of appraisers can manage exceptions far more efficiently by providing guidance before the file is even delivered.”
Sky Delivery is ACI’s appraisal delivery portal that uses dynamic rules to identify exceptions and deliver real-time results, including hard stops, prior to posting the file for further review.
ACI Sky Review is a web-based appraisal review platform that enables AMCs to improve appraisal review quality and productivity without having to hire and train additional staff. Using client-specific quality assurance checklists, Sky Review reads the appraisal report and automates over 50 percent of what is traditionally a manual process. By programmatically eliminating more than half of the review checklist, Sky Review empowers appraisal reviewers to focus their expertise on just the items that require manual review.
“ACI Sky Review systematically resolves many of the items that previously required a manual checklist review, enabling us to deliver the consistent quality our customers expect, while shaving minutes off each appraisal review,” said Al Yeargin, chief appraiser for InHouseUSA. “Those minutes add up and allow us to fit more reviews into our day, ultimately improving our bottom line.”
The ACI Sky platform leverages PAR® Logic, ACI’s library of over 5,000 customizable rules, including more than 1,200 rules designed to identify potential collateral risks and reduce exceptions related to the Uniform Appraisal Dataset (UAD) as required by Fannie Mae as well as the Federal Housing Administration (FHA). ACI also developed over 20 custom checklist rules to accommodate InHouseUSA’s specific appraisal review needs.
InHouseUSA has been providing innovative valuation solutions throughout the United States since 2002. As early adopters of requirements under the Dodd-Frank Act, InHouseUSA ensures compliance throughout the entire valuation process, from request to UCDP approval. InHouseUSA offers two unique products; Connexions and Solutions. Both platforms are fully customizable and allow integration of lenders’ business rules, which helps standardize practices and policies throughout the valuation life cycle. For more information, visit http://www.inhouseusa.com/.
ACI specializes in creating innovative workflow solutions for real estate appraisers, appraisal management companies and financial institutions. Backed by analysis-driven tools and industry expertise, ACI’s cloud-based and enterprise software applications empower stakeholders with a streamlined approach to managing forms, rules and data, while operating with audit-ready transparency and compliance. Through visionary leadership and dedication to client service, ACI has served as a reliable and driving force in the valuation industry for nearly forty years. Headquartered in Palm Coast, Florida, ACI is a member of the First American (NYSE: FAF) family of companies. For more information, visit https://www.aciweb.com.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.6 billion in 2016, the company offers its products and services directly and through its agents throughout the United States and abroad. In both 2016 and 2017, First American was recognized by Fortune® magazine as one of the 100 best companies to work for in America. More information about the company can be found at https://www.firstam.com.
Business Wire: 17:00 GMT Monday 20th March 2017
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2017. [Admin Only]
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.