The Real Estate Encyclopedia
OPIIS
Category - Real Estate Glossary - Acronyms in Real Estate

Is the acronym for FHA Multifamily Housing's Online Property Integrated Information Suite.  OPIIS began as an Access database application known as C-FASS developed in the Real Estate Assessment Centers (REAC)  Financial Assessment Subsystem Lab for Multifamily Housing (MFH) in 1999-2000.   The C-FASS database allowed Departmental Enforcement Center (DEC) and FHA MFH Field staff to view property specific financial information that was stored on a CD-ROM.  Due to the confidential nature of the financial data and concerns about distributing information on CD-ROM the project was halted.  Based on the C-FASS idea, in 2001 analysts in the REAC designed a tool using business intelligence software conected to a secure database that contained physical, financial and property specific information found in various HUD databases.  The tool was initially known as the Integrated Assessment Subsystem for Multifamily Housing or NASS-MF.  The tool consists of a Commercial Off The Shelf (COTS) user interface that provides the user with reports which allows interaction with the data much like a pivot table in Excel.  In 2002, REAC went from being a stand alone Agency to becoming part of Public and Indian Housing (PIH).  When that occured both the FASS-MF Lab and the NASS-MF tool were moved to the FHA reseach and development team.  Soon after this move the name of the NASS-MF Tool was changed to OPIIS to indicate that it was no longer a part of the Real Estate Assessment Center.  The OPIIS Tool is still operational and used by MFH Asset Managers throughout the Country to assist in portfolio management activities.  Since its inception HUD has continued to add new data elements to the tool and has integrated a risk assessment model as part of the Suite.

  

 
Category(s)
Real Estate Glossary - Acronyms in Real Estate
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