ClickFORMS version 3.4 has the new (version 2.0) AI forms. The new AI Forms, named AI Reports™ by the Appraisal Institute, are designed to fill a gap in an appraiser’s Forms Library. With the release of the Fannie Mae forms last year, appraisers were left without an updated non-mortgage appraisal form. The new Fannie Mae forms are mortgage-specific, and Fannie Mae precludes appraisers from using them for non-mortgage applications such as divorce and probate.

Leland Trice, chair of the AI Reports™ Project Team, commented on what appraisers can expect: “AI Reports™ is a series of appraisal report formats being created by the Appraisal Institute. Designed by appraisers for appraisers, these formats are intended to be very flexible. The Summary Appraisal Report – Residential - AI Reports™ is our first completed effort. It’s the product of a lot of hard work by the Appraisal Institute and our AI Reports™ Project Team. The Appraisal Institute has arranged distribution of the form through a number of appraisal software companies, who have agreed to include the form in their product lines.”*

Jeff Bradford, President of Bradford Technologies, said “Given the new USPAP regulation regarding Scope of Work and Intended Use and User, these forms will provide a way for appraisers to perform non-mortgage related appraisals and comply with the new guidelines. They are a great solution for non-mortgage related appraisals.”

Appraisers will like the flexibility of the new AI Reports™. “A lot of users will like the ability to add pages within the report. This is different from the standard Fannie Mae forms, which are fairly set in stone,” said Francisco Duran, Chief Forms Designer at Bradford Technologies who participated in the development of the forms. “A lot of appraisers have been asking for this, so it’s obvious that the Institute really listened.”
 
In this release, ClickFORMS users will be receiving version 2.0 of the AI Reports™ which includes the Residential Summary Report, the Residential Restricted Report, and Land Report.

“We’re pleased with how well our relationship with the Appraisal Institute is going. We’ve been endorsing their efforts for a long time and we were very pleased to be able to actively participate in the development of these forms.” said Jeff Bradford.

For more information on the new AI Reports™, visit the Appraisal Institute website at www.appraisalinstitute.com or Bradford Technologies at www.bradfordsoftware.com.

* Leland Trice’s comments are courtesy of AppraisalBuzz and are reprinted with permission.