that feature the Uniform Standards of Professional Appraisal Practice (USPAP)
David S. Bunton, Foundation President said of the new initiative, “This announcement ushers in a new day for the Foundation and appraisal technology. Appraisal professionals will now have USPAP and the Foundation’s related guidance at their fingertips for reference during every step of the process. Digitizing USPAP and including it in the appraiser’s toolset is the best way to ensure compliance and ultimately build public trust in the work of appraisers.”
The Appraisal Foundation selected three companies for the initial launch, each committed to providing appraisers with the tools to perform quality appraisals through their respective software programs. These new software programs will assist in saving appraisers time and will equip them with the resources to help ensure compliance with USPAP, ultimately benefiting both lenders and consumers.
ACI will incorporate USPAP and related guidance into ACI Sky™, a new web-based appraisal platform. ACI Sky empowers the valuation professional to create full reports on the web with tools for sketching, data collection, review, MISMO® XML delivery, location and flood mapping. For Bradford Technologies, the partnership with the Foundation offers an opportunity to further the company’s focus on helping move the appraisal profession, and in particular residential appraisers, away from tedious form-filling and towards computer-aided appraising Redstone technology. Centric plans to fully integrate USPAP and related guidance into its dialogue-based solution for report creation and quality review by the end of 2015. Centric’s end-to-end, web-based platform integrates the functionality and communication needs of appraisers, AMCs, and lenders.
About The Appraisal Foundation
The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.
Headquartered in Palm Coast, Florida, ACI is a member of the First American family of companies. The ACI client base is comprised of thousands of real estate appraisers, many of North America’s premier lenders and national appraisal companies. ACI and its representatives have been friends of The Appraisal Foundation for years, serving as trusted advisors on the Industry Advisory Council. Read more about ACIhere.
About Bradford Technologies
Bradford Technologies has been serving the appraisal industry for the last 28 years providing services and products to assist appraisers in producing appraisal reports quickly and efficiently. During the last six years, the company has focused on assisting appraisers in producing better valuations and eliminating the tedious form-filling aspect of appraisals. Bradford is currently on its fifth iteration of Computer-Aided Appraising technology with a new product called Redstone. Read more about Bradford Technologies here.
About Centric Technology Solutions
Centric has been in the valuation technology business for over 20 years, as a provider of collateral valuation solutions. The CentricCVP™ (Collateral Valuation Platform) is the first and only software platform and set of tools that allows visibility and control throughout the entire appraisal process, for lenders, AMCs, and appraisers. Embedded guidance, validation, and review features support the highest and best output quality from report development to data collection and analysis, to quality review. Read more about Centric here.
