by Josh Hook | Jun 19, 2024 | Press Release
Santa Ana, Calif., June 19, 2024 — ACI™, a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American (NYSE: FAF) family of companies, today announced that ACI Sky™, a best-in-class digital quality control and compliance platform, is now integrated with Restb.ai, a global leader in artificial intelligence (AI) and computer vision solutions for real estate. The integration with Restb.ai automates the detection of discrepancies within appraisals and identification of images that need editing prior to submission to an appraisal management company (AMC) or lender. The technology also examines photo-based data to aid in analyzing the condition and quality of properties.
“Our AI-powered ACI technology solves two major pain points that AMCs and lenders face – inconsistency between the data and imagery in appraisal reports and the inadvertent inclusion of images containing personal details that should be edited out,” said Chris Flynn, head of product and strategy at First American Data & Analytics. “ACI Sky’s industry-leading appraisal quality control automation paired with the power of Restb.ai’s computer vision capabilities will reduce appraisal revisions, saving time and expense in the appraisal process.”
The new integration leverages AI to extract insights from images captured during the appraisal inspection process to identify inconsistencies in appraisal reports at the time of appraisal delivery, minimizing costly and time-consuming appraisal revisions. Restb.ai’s technology also flags images that may require editing to omit personal or private details prior to submission to an appraisal management company or lender.
“The combination of ACI’s deep experience in appraisal technology and quality control, combined with AI’s ability to analyze and extract insight from imagery will enhance ACI’s industry-leading solutions, further automating the appraisal quality control process,” said Tony Pistilli, general manager, valuations at Restb.ai.
ACI Sky leverages dynamic PAR® Logic rules engine to assess integrity, quality and completeness, while reducing exceptions via real-time alerts at file submission and review, expediting the appraisal review process. To date, ACI Sky has reviewed more than 6 million appraisals nationwide.
For more information about ACI and the integration with Restb.ai, visit aciweb.com.
About Restb.ai
Restb.ai, the leader in AI and computer vision for real estate, delivers image recognition and data enrichment solutions for many of the industry’s top brands and leading innovators. Its advanced AI-powered technology automatically analyzes property imagery to unlock visual insights at scale that empower real estate companies with relevant and actionable property intelligence. Restb.ai is like having a real estate expert instantly research and provide a deep insight into each of the 1 million property photos uploaded daily. For more information on Restb.ai, visit the website.
About ACI
ACI, a member of the First American (NYSE: FAF) family of companies, 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 40 years. For more information, visit www.aciweb.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $6.0 billion in 2023, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2024, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the ninth consecutive year. The company was named one of the 100 Best Workplaces for Innovators by Fast Company in 2023. More information about the company can be found at www.firstam.com.
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Media Contact:
Marcus Ginnaty
First American Financial Corporation
(714) 250-3298
by Josh Hook | Dec 5, 2023 | Press Release
Santa Ana, Calif., Dec. 5, 2023 — ACI™, a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American (NYSE: FAF) family of companies, today introduced SureStep® mobile, the most comprehensive appraisal inspection solution in the market. Through the applications and tools housed within ACI SureStep mobile, appraisers can conduct a full inspection onsite from their smartphone or tablet, including capturing photos, completing sketches, collecting property data, and analyzing research, which helps eliminate paperwork and manual data entry. Available for both iOS and Android devices, SureStep mobile also helps appraisers more effectively manage calendars and active orders by displaying all assignments and their status in one place and providing driving directions to appointments with a single touch.
“SureStep mobile helps appraisers stay in the field longer, providing the information needed to scope and quote new assignments from anywhere, so they can complete more appraisals in a day,” said Jeremy Staudenmaier, general manager at ACI. “Efficient data collection during an inspection is vital and appraisers that can conduct their business in the field gain an advantage over their competition. SureStep mobile is more than a data collection application, it’s a digital appraisal assistant designed to eliminate many of the manual tasks in the appraisal process, reducing inspection times while improving reliability.”
With SureStep mobile, appraisers automatically receive First American’s comprehensive public records data for the subject property, along with aerial and street-view imagery. In addition, all completed inspections are seamlessly imported directly into ACI’s flagship software, ACI Report™ to further reduce the need for manual data entry. Work files are thoroughly documented within SureStep mobile to comply with regulatory requirements through complete digital inspection reporting as well.
SureStep mobile is the latest innovative technology from ACI, reflecting the company’s commitment to help appraisers remain at the forefront of the digital transformation of the appraisal profession. SureStep mobile is the first release of a broader set of foundational ACI products designed to redefine how appraisers leverage technology and engage with their customers.
For additional information about ACI and SureStep mobile, visit www.aciweb.com.
About ACI
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 40 years. ACI is a member of the First American (NYSE: FAF) family of companies. For more information, visit www.aciweb.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.6 billion in 2022, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2023, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the eighth consecutive year and was named one of the 100 Best Workplaces for Innovators by Fast Company. More information about the company can be found at www.firstam.com.
by David Wu | Aug 23, 2022 | Press Release
This integration marks the latest step forward in FCT’s mission to fuel growth and innovation across the real estate industry
OAKVILLE, August 23, 2022 – FCT, the leading national service provider in real estate technology and title insurance, announced today an integration with Canadian Residential Appraisal Library (CRAL) ReportPro™ from ACI, a leading innovator in collateral valuation technologies.
This integration allows appraisers to directly populate appraisal forms with residential property information, capturing key data points in one click and reducing turn times by more than half in many instances.
“Our integration with ACI aligns with our commitment to provide our customers with intuitive, data-driven products and deliver the highest quality of service,” said Daniela DeTommaso, president of FCT. “By combining FCT’s industry leading technology with ACI’s robust data and innovative workflow solutions, we are one step closer to creating a seamless experience across the real estate lifecycle.”
“We are excited to partner with FCT in advancing the Canadian appraisal market through collaborative innovation,” said Jeremy Staudenmaier, managing senior director at ACI. “This initiative is a major step forward in modernizing the appraisal process, while maintaining the high standard of quality their customers have come to expect.”
About FCT
Based in Oakville, Ontario, FCT has over 1,000 employees across the country. FCT provides industry-leading title insurance, default solutions and other real estate-related products and services to approximately 450 lenders, 43,000 legal professionals and 5,000 recovery professionals, as well as real estate agents, mortgage brokers and builders, nationwide.
The Great Place to Work® Institute has named FCT one of Canada’s Top 50 Best Workplaces for eight consecutive years (2015-2022) and certified FCT as a Great Place to Work. The company was also recognized for the third consecutive year (2020-2022) on the list of Best Workplaces™ for Women. Earlier this year, FCT’s parent company, First American Financial Corporation, was named was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune magazine for the seventh consecutive year.
For more information on FCT, please visit the company website at www.fct.ca.
by Brian Arizaga | Mar 2, 2022 | Press Release
ACI Executive Recognized for Leadership, Innovation and Professionalism
Palm Coast, Fla., Mar. 2, 2022— ACI™, a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American (NYSE: FAF) family of companies, today announced that Jeremy Staudenmaier, director of product management, has been chosen as the Collateral Risk Network (CRN) 2022 Valuation Visionary. CRN will present Staudenmaier with the award at Valuation Expo 2022 in Las Vegas in September 2022.
The Valuation Visionary award recognizes the collateral valuation professional who has demonstrated outstanding leadership, innovation and professionalism. Winners are nominated by their peers within the Collateral Risk Network, an industry group comprised of lenders, investors and valuation providers.
Joan Trice, founder and president of the CRN said, “Jeremy has been at the forefront of appraisal and industry digital transformation. I’m very pleased to see this award go to someone so deserving. I’ve followed Jeremy’s career over the years, and he continually works to better the industry.”
Staudenmaier has made several meaningful contributions to the appraisal and valuation industry throughout his career. In his current role for ACI, he is focused on the design, development and execution of innovative software solutions to drive the digital transformation of the valuation industry.
“Jeremy is a seasoned industry veteran who has made a significant impact on ACI since joining our company, and the valuation industry throughout his career,” said Robert Karraa, president of First American Data & Analytics. “He is an innovative product developer and team leader with a proven track record of building high-impact, customer-focused products.”
Earlier in his career, Staudenmaier was a credit risk manager and collateral policy and strategy analyst at Fannie Mae. While with Fannie Mae, he led training during the roll out of Collateral Underwriter and was the collateral policy lead when the GSEs launched the Uniform Appraisal Dataset and Forms Redesign project. Staudenmaier previously served as vice president at Wells Fargo, overseeing the retail and home equity appraisal operations, Appraisal Management Company vendor management and appraisal compliance program. He has also served as a collateral valuation specialist at GMAC and Citi.
Staudenmaier is the third First American executive to win the CRN Visionary Award. ACI Senior Vice President of Sales and Marketing George Opelka received the award in 2016 and First American Mortgage Solutions Chief Appraiser and Vice President of Valuations Alan Hummel received the award the following year in 2017.
About The Collateral Risk Network
The Collateral Risk Network was founded in 2003 by Joan Trice, and established as a non-profit, 501(c)(3) as of January 2020. The CRN’s mission is to advance the use of sound collateral risk management principles, policies and practices within the housing finance industry. The CRN promotes a broad multi-stakeholder approach to risk management that focuses on valuation, collateral risk, and compliance.
About ACI
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 40 years. Headquartered in Palm Coast, Florida, ACI is a member of the First American (NYSE: FAF) family of companies. For more information, visit 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; banking, trust and wealth management services; and other related products and services. With total revenue of $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.
by David Wu | Feb 15, 2022 | Press Release
Palm Coast, Fla., Feb. 15, 2022— ACI™, a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American (NYSE: FAF) family of companies, today introduced SureStep® sketch, an innovative, data-driven floorplan solution that allows appraisers, inspectors and real estate agents to create accurate floorplans in the field. The property data captured in the floorplan sketch (number of rooms, floors, dimensions, etc.) is automatically fed directly into an appraisal or property report, saving time and reducing rekeying errors.
With SureStep® sketch, real estate professionals can begin projects in the field and then easily edit and manage them later on any device, including smartphones, tablets, and desktop computers. The intelligent compliance rules within SureStep sketch enhance the consistency between the floorplan sketch and the corresponding data in the report, reducing steps for the user and potential discrepancies.
“SureStep® sketch digitizes and automates critical inputs in the appraisal process in both the field and the office. Users can walk through a house and build a floorplan using pre-defined shapes and labels, while simultaneously capturing key inspection data required for an appraisal or property report, all in an intuitive and easy-to-use application,” said Jeremy Staudenmaier, director of product at ACI. “This unique ‘floorplans-on-phones’ approach can eliminate discrepancies and inconsistencies that are often the result of manually keying information from a paper document into a digital solution. The comprehensive metadata feature in SureStep sketch enhances consistency between the data in appraisal forms and the sketches, reducing the need for back-and-forth with clients over quality issues, while enabling users to produce reports faster and with fewer errors.”
SureStep® sketch offers an innovative digital solution to a traditionally manual task and complies with current GSE requirements and proposed floorplan requirements, as well as providing compliance with American National Standards Institute standards.
For more information about ACI and SureStep® sketch go to aciweb.com.
About ACI
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 40 years. Headquartered in Palm Coast, Florida, ACI is a member of the First American (NYSE: FAF) family of companies. For more information, visit 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; banking, trust and wealth management services; and other related products and services. With total revenue of $7.1 billion in 2020, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.
by OneCall | Dec 1, 2020 | Press Release
ST. PETERSBURG, Fla., Dec. 1, 2020 /PRNewswire/ — AppraisalVision, the mortgage industry’s first on-demand platform for home appraisals, announced an agreement today with ACI, a leading solutions provider in the valuation industry for nearly 40 years. AppraisalVision also announced the availability of SMARTReview, a next generation appraisal quality control and review platform for lenders, appraisal management companies (AMCs) and appraisers.
SMARTReview is a risk-based appraisal quality control (QC) and review platform, that allows a lender to extend, standardize and automate their appraisal QC and review process across all of their AMCs and appraisers. Built on top of ACI’s Sky® API and PAR® Logic compliance library, SMARTReview provides a single platform for all participants to collaboratively review and approve the appraisal report, resulting in improved efficiency and quality.
“We have seen an 80% reduction in underwriting revisions when an AMC utilizes SMARTReview, prior to delivery of the appraisal report to the lender,” said Jim Cutillo, Founder and CEO of AppraisalVision. “If a lender is utilizing multiple AMCs and appraisers, SMARTReview is a game changer and makes existing appraisal review processes and tools obsolete.”
SMARTReview is currently in production with several national lenders, AMCs and appraisers. The platform is integrated with UCDP/EAD and Fannie Mae’s appraisal API, allowing lenders to incorporate risk-based findings into the appraisal QC and review process. MLS and public record data can also be incorporated to validate order and appraisal report data.
“We’re excited to work with AppraisalVision. They have created an innovative QC platform that leverages our Sky API to drive the PAR Logic compliance through the SMARTReview workflow.” said George Opelka, General Manager at ACI. “The end result empowers all stakeholders along the way to improve both productivity and appraisal quality.”
About ACI
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 40 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 AppraisalVision
AppraisalVision is the industry’s first on-demand platform for home appraisals. Powered by Vision Analytics and their machine learning algorithm, known as an AQPM Score, AppraisalVision’s SMART products optimize AMC selection, appraiser assignment, and appraisal QC and review. Providing management of the order from start to finish, with their revolutionary data and analytical approach. Jim Cutillo, former founder and CEO of Stonegate Mortgage Corporation, is leading a team of tech savvy, next generation industry experts, focused on reinventing the appraisal process. For more information, visit https://www.appraisalvision.com.
SOURCE AppraisalVision
