PALM COAST, Fla.–(BUSINESS WIRE)–ACI, a leading innovator in technology to the mortgage valuation industry today announced the launch of ACI Sky™ Flood, a new service that provides real estate appraisers with access to FEMA (United States Federal Emergency Management Agency) flood data including flood determination maps. Properties located in FEMA Special Flood Hazard Areas are federally mandated to carry flood insurance when purchased using a government-backed loan.
“With the release of ACI Sky Flood and ACI Sky Maps, our map technology has morphed into an extremely powerful business tool for real estate appraisers”
As the result of a recent integration with Google, ACI empowers appraisers with enhanced mapping capabilities that provide an improved view of the subject property and surrounding market area. With an underlying Google Map™ image, ACI Sky Flood displays precision overlays of the flood hazard areas on a road map or satellite view of the subject property. ACI categorized the hazard overlays into low-risk and high-risk areas to easily distinguish the Special Flood Hazard Areas.
“With the release of ACI Sky Flood and ACI Sky Maps, our map technology has morphed into an extremely powerful business tool for real estate appraisers,” said George Opelka, senior vice president at ACI. “We will continue to invest in innovation that promotes efficiency for appraisers and adds clarity to the appraisal report.”
ACI Sky Flood also includes Letter of Map Amendment (LOMA) data. A LOMA is an official FEMA designation that establishes whether a structure is outside of the Special Flood Hazard Area, even if the property is located in a flood zone. This designation offers relief from the mandatory flood insurance requirement. If a property has a LOMA, it will be referenced in the detail section of the ACI Sky Flood determination map.
The integration with ACI’s flagship appraisal software uses point-and-click technology to import the flood determination map and data, including FEMA community name and number, Panel number, Map Revision date, Flood Zone, and Census Tract Number.
For more information about ACI Sky Flood and the power that it brings to real estate appraisers, management companies, and lenders, please visitwww.aciweb.com/product/Sky-Flood or call 800-234-8727 to speak with a sales associate.
ACI has gained recognition within the mortgage industry as a pioneer in crafting technology solutions for all facets related to the appraisal of real estate. ACI’s highly scalable appraisal solutions are tailored to the needs of its customers. The ACI client base is comprised of thousands of real estate appraisers, many of North America’s premier lenders and national appraisal companies. From connecting appraisers nationwide to streamlining quality control, ACI empowers appraisal professionals to process appraisals and manage exceptions in a consistent and efficient manner. Headquartered in Palm Coast, Florida, ACI (www.aciweb.com) is a member of the First American (NYSE: FAF) family of companies.
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; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.0 billion in 2013, the company offers its products and services directly and through its agents throughout the United States and abroad. More information about the company can be found at www.firstam.com.
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