AI Ready Appraisal Software

[Curtis Armstrong]

I have been hearing more and more lately about companies like WAMU, B of A, and BankOne moving to the AI Ready format. How does everyone feel about this? Does anyone here use this product and like it?

Thanks!

Curt

 

[Farm Gal]

Curtis:

I currently to the best of my knowlege do not send in AI ready format to any client who extracts directly.

I make them go through the horrible step of having to put my PDF files through a reader to extract the information contained therein....

For every lock there is a key and the really motivated guys are going to find a way to 'cheat the system' if they want what you got.

and they do.

From my perspective if I have a good paying client who I know is extracting data but otherwise leaves me a lone I guess I figure it makes not any difference whether they pay me or some other guy in the short run. In the long run they are going to do whatever it is they are going to do (AVM fine tuning)

but I don't have to make it EASY on them :twisted:

 

[Curtis Armstrong]

Thanks for the input, Lee Ann. The more I hear about this product, the more it seems like most large companies are going to start moving in this direction.

For everyone who responds “yes” to the poll; could you please answer the poll on the program you use as well?

It can be found here:http://www.appraisersforum.com/forums/view...opic.php?t=6755

Thanks again!

Curt

 

[Leon Stewart]

I'm set up for it but I haven't use it yet. Some Lenders have had a problem getting it working properly, but it seems as if they are almost there. I think you have to make a choice, if you don't adapt and use this system, then they wont use you as an appraiser. So you're caught between a rock and a hard place, and I think the Appraiser will have to ride this horse until it falls, because this is (as Lee Ann indicated) the beginning of the end, and eventually the AVM's will surplant much of the Residential Work and some of the Commercial work as well.

leon

 

[Tejus]

Is there an online AI Ready specification document? If yes, please provide the link.

My understanding is AI Ready is the name for an XML format used to encode appraisal information, e.g. a common data model which applications can read/write. I'd like the detailed XML specs which identify what information can be encoded and how.

muchas gracias.

 

[Leon Stewart]

Alan:

You could go to AppraisalPort.com to try and find the information you seek, but the process is based on Registration which involves a Registration Number given to the Appraiser by a Lender that intends to use the Service. I don't see where it does you any good to check it out prior to a Client telling you that you need to have it to do their work and giving you the necessary Registration Number.

The process has not been advanced enough to allow an Appraiser to become AI-Ready and then everybody will start ordering Appraisal from him or her. It seem as if the Appraisers who are getting assignments under the program are the one's who were getting assignments from the same Lenders prior to becoming AI-Ready. It might eventually get to that point, but I've been Registered for 4 or 5 months and I haven't received a single assignment yet.

leon

 

[Tejus]

Leon, thanks for the info. I've signed up for the developer info at www.aiready.com and downloaded the available manuals.

I'm still confused by the details and have many questions, need to investigate further. I'll try to post my findings after sorting thru the hoopla.

cheers.

 

[Leon Stewart]

As a general follow-up on my earlier comment, one of my Clients informed me that they have decided not to use the FNC's Appraisal Port System, but since I hadn't received any orders under the System I guess that kills it for me.

leon

 

[Tejus]

Leon, I promised you a follow-up after your assistance. I contacted the AIReady.com website and downloaded their info. I asked them if I could post some of their doc's for other appraisers to review. We went in circles for awhile, they would not allow me to post their doc's, then I became frustrated and gave up. If you are pushing a public std, you need to make the std readily available to the public. I don't consider anything in their doc's confidential.

There are AIReady issues I'm concerned about, but I'm not going to pursue them unless I'm forced to do so in the future. I consider it a dead issue at this point.

I did obtain an email advertisement from Day One which contains the best description of PDF-Lighthouse-AIReady I've seen (this isn't saying much, but may clear up some confusion). The email is available at:

http://alan57.home.texas.net/tejas/pub/NOV...ader_in_EDI.pdf

cheers.