Ready to analyze the appraisal data and crunch the numbers – FNC’s Appraisal Score received a U.S. patent (U.S. Pat No. 8,244,563), making it the first patented appraisal review tool. The FNC Inc. blog “The Collateral Vision” announced the news Sept. 17 and reported that the patent process took five years.

From the FNC Blog:

“… This patent adds an extra measure of validation and credibility to our work, and we think that’s fantastic …We’re pleased to see the Appraisal Score patent come to fruition, and we’re proud of the people, our developers and our legal team, who made it happen. A special ’thank you‘ goes to FNC’s Chief Appraiser Kathy Coon; and Gwen Magrisso, GAAR Manager.

FNC’s Appraisal Score is based on a set of Generally Accepted Appraisal Rules (GAAR) developed by FNC to check for compliance errors. The program helps users pinpoint appraisal issues that indicate risk or potential fraud, reports the blog.

For more, check out the post on “The Collateral Vision.”