In clear, straightforward language, Electronic Data Interchange (EDI) and the Appraisal Office
describes one of the technological initiatives transforming the real estate finance and appraisal industries today.
This Technical Report begins with an introduction to electronic commerce, EDI, artificial intelligence, and the revolutionary changes in mortgage banking that brought their attention to practicing appraisers and the appraisal industry alike.
The second chapter describes the framework adopted by the real estate finance and appraisal industries for developing and publishing EDI standards.
Chapter 3 explains the component parts of X12 standards, and Chapter 4 presents a legal perspective on EDI trading partners and trading partner agreements.
The final chapter relies on a Q&A format with industry representatives to cover a wide range of topics that concern implementing EDI in the appraisal office. The report also contains several appendixes, a glossary, and a comprehensive bibliography.