In preparation for the Federal Housing Administration’s (FHA) mandated use of its Electronic Appraisal Delivery (EAD) technology system, ACI announced it is among the first appraisal technology providers to offer its appraisal management company (AMC) clients a full integration with the EAD portal.
The EAD portal is a Web-based platform through which mortgagees, third-party service providers and other authorized users can electronically deliver FHA origination appraisal reports prior to endorsement. ACI developed direct system-to-system integrations to assist clients — including Dart Appraisal, Direct Valuation Solutions, First American Mortgage Solutions, Guideline AMC, Mortgage Information Services, Valutrust Solutions and Property Sciences — with delivering assignments to the EAD portal.
“Companies are considering assigning full-time resources just to handle all the EAD testing,” ACI Sales and Marketing Senior Vice President George Opelka said in the company’s press release. “We’re pleased that we can not only handle the initial coding and testing for our clients, but also offer ongoing support in case of submission issues down the road or later changes to the EAD requirements.”
Appraisal reports uploaded to the EAD portal must comply with FHA’s Appraisal Report and Data Delivery Guide. The EAD portal checks each submission against FHA requirements and returns a detailed status message indicating the submission’s success or failure. Certain critical data errors, such as those that cause data conflicts between the EAD portal and FHA Connection, must be remedied before the submission can be transmitted successfully. Other lesser discrepancies may be accepted, but will be flagged by the portal for lender review.
ACI’s application programming interface fast-tracks existing users of ACI’s Uniform Collateral Data Portal integration to be EAD-ready in a matter of weeks, the company said, sparing the AMC from conducting its own coding and testing.