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  #1  
Old 10-01-2009, 07:10 AM
Richard Haba Richard Haba is offline
 
Join Date: Sep 2005
State: Michigan
Professional Status: Certified Residential Appraiser
Posts: 28
Default Request to remove language.

I have been requested to remove the following language from my report. As the reviewer is saying he can not complete the review with that language in there. I have read standard 3 over and over not finding any reason why he cant. FYI, the review appraiser is from LANDSAFE and probably lives in alaska or something(uggh...lol). When i sent a rebuttal as to why i would not remove it, he stated his reasoning is because it cannot be delivered to fannie mae with that in there. I seem to have had no problems with delivery to anyone before and it has been in my reports for about 4 years:


*** COPYRIGHT: Liberty One Appraisal Services expressly retains all rights, titles, and interests in all copyrights, trademarks, trade names, trade secrets, software, data conclusions, opinions, valuations, or other information included in, arising out of, or in any way related to this appraisal, or any provision of the appraisal services to the named client and/or intended user. The report and information supplied by the staff of Liberty One Appraisal Services is a culmination of education, professional experience, and investigation, which at all time remain the property of Liberty One Appraisal Services. No persons or entities shall be entitled to break down, strip out, mine, or disseminate any component or part of this report, including but not limited to any conclusions, valuations, opinions, or other data compilations herein, without the written consent of Liberty One Appraisal Services. ***


I have a real problem removing it as i feel it further protects our proffession, even though its technically protected without that in there. Your input would be greatly appreciated.

Thanks!
Rich
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  #2  
Old 10-01-2009, 07:51 AM
DWiley DWiley is offline
 
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Location: Nashville, TN
State: Tennessee
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Default

The reviewer is correct. The statement posted contains language that is contrary to the certification in the 1004 form. Specifically, it conflicts with Certification 21, which allows the client to submit the report to data companies.

Changes to the certification language are not allowed if the loan is going to Fannie Mae. I am not surprised that this has not been brought to your attention before. Just as many appraisers have not read the certifications they sign, many underwriters do not read the fine print that appraisers add.
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  #3  
Old 10-01-2009, 09:49 AM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
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Default

The very best reason why no one should participate in a fannie mae loan is that fannie mae data mines your work and your talent and your expertise and resells it or re uses it without any compensation whatsoever to you.

I personally would not remove it but that's just me becuase I personally would like to see fannie mae and freddy mac abolished and their employees sent to prison as the thieves they are.
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  #4  
Old 10-01-2009, 10:43 AM
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Mike Kennedy Mike Kennedy is offline
 
Join Date: Sep 2003
Location: Southern Hudson Valley
State: New York
Professional Status: Certified Residential Appraiser
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Many appraisers are drafting language that they intend to include in their future reports in an effort to “clarify” certain Limiting Conditions and Certifications. We must caution that the new forms specifically state that, “Modifications or deletions to the certifications” are not permitted.

Suggested Additional Language to Clarify Intended User (per Fannie Mae`s Update, November 2005):

"The Intended User of this appraisal report is XXX (Name of your Lender/Client). The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser."


http://www.liability.com/claim_detail.asp?ClaimID=94
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  #5  
Old 10-01-2009, 12:34 PM
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Dutchman Dutchman is offline
 
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Location: Vancouver, washington
State: Washington
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Where does it state the "data mining" is allowed. Data mining in no way can be considered "in due course of business" for obtaining loan approval. It is an entirely separate activity from mortgage lending.
IIR, the US copywright office states that a report is copywrighted upon completion and does not need a copywright statement as such for it to have all the protections of copywright law.
  #6  
Old 10-01-2009, 12:55 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
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Quote:
Originally Posted by Dutchman View Post
Where does it state the "data mining" is allowed. Data mining in no way can be considered "in due course of business" for obtaining loan approval. It is an entirely separate activity from mortgage lending.
IIR, the US copywright office states that a report is copywrighted upon completion and does not need a copywright statement as such for it to have all the protections of copywright law.

If you're communicating appraisals using current Fannie forms, you may want to review Appraiser's Certification #21.

An appraiser can't have it both ways.
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  #7  
Old 10-01-2009, 01:07 PM
Richard Haba Richard Haba is offline
 
Join Date: Sep 2005
State: Michigan
Professional Status: Certified Residential Appraiser
Posts: 28
Default

What if i was just to include fannie mae as an inteneded user in my language. I dont like that they data mine but im more concerned that landsafe will, whom i hate with a passion.
lol
  #8  
Old 10-01-2009, 01:10 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
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Quote:
Originally Posted by Richard Haba View Post
What if i was just to include fannie mae as an inteneded user in my language. I dont like that they data mine but im more concerned that landsafe will, whom i hate with a passion.
lol
Confer with your client before adding Intended Users. It may be possible that the loan is not headed to Fannie.

But, if your making effort to contradict Cert #21, you're wasting your time.
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  #9  
Old 10-01-2009, 01:54 PM
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timd354 timd354 is offline
 
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Location: Baltimore-Washington Metro Area
State: Maryland
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Default

Quote:
Originally Posted by Dutchman View Post
Where does it state the "data mining" is allowed. Data mining in no way can be considered "in due course of business" for obtaining loan approval. It is an entirely separate activity from mortgage lending.
IIR, the US copywright office states that a report is copywrighted upon completion and does not need a copywright statement as such for it to have all the protections of copywright law.

Cert #21 reads in part:

"21. The lender/client may dsiclose or distribute this appraisal report to:
...................data collection or reporting services...."


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  #10  
Old 10-01-2009, 02:49 PM
LI-Appr LI-Appr is offline
 
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State: New York
Professional Status: Certified Residential Appraiser
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So maybe the AI and other big guns can pressure the ASB to convince F & F to rewrite Cert #21.

What the chances of that happening?
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