Virgina REAB and Portal Petition

[CANative]

I think In-N-Out should print the secret of what makes their burgers so good right on the wrappers. That way we wouldn't have to drive over there and give them the $2.

 

[TJSum]

Not sure how many times it needs said, there is no such thing as a secure system. If the digital signatures are as good as advertised on this thread, I am all for them. But the "security" comes from the transparency of the system, not the technology.

It will be transparent, with a time and date stamp of what the sender sent to the "vault".

It will be transparent, with a time and date stamp of what the "vault" received.

There is no conversion program involved, that may scramble the report upon transmission, but if any appraiser has this concern, they can access it immediately from the vault to review.

If any hackers break into the system a month or two later, it can easily be proven by those who have already downloaded the report prior to the hackage.

Not only is there total transparency for any report, but the chain of evidence is transparent as well.

My question is, why are those who fear better transparency with the system? It does not stop or even slow down the free market system, it only allows for it to work properly with all parties being more accountable.

 

[Ken B]

What does the converted report look like? I ask, since dear Aunt Fannie is so proud of her forms?

From what I can tell, it looks just like a standard report. A screenshot example is given in the link I provided yesterday.

Like standard appraisal production software, all that happens is that data filled into the areas of a virtual report using production software is converted into a different format. If a digitial representation of a hardcopy report is desired, all the program does is insert the converted data into another "virtual" form. I don't know all the technical terms, but surely no one thinks that the image of a form they view on a computer monitor is a "real" form.

 

[DWiley]

My question is, why are those who fear better transparency with the system? It does not stop or even slow down the free market system, it only allows for it to work properly with all parties being more accountable.

Lack of support for an idea does not mean one fears it. I don't fear all my clients calling me tomorrow to say fees are going up 100%; I just don't believe it will happen.

I don't think there is a snowball's chance in he** that lenders will agree to all use a single vault system, and I see no reason for law makers to mandate it.

 

[CANative]

I don't know what it looks like but someone used an analogy while we were discussing the issue.

It's a working document, similar to a client making a xerox copy of the report, tearing off the pages that didn't interest them (photos, coversheets, TOC's, transmittal letters, etc.) and then marking it up in red pencil.

No one is under the impression that this is what the appraiser sent.

 

[Mr Rex]

I don't think a single vault system will work either. I was thinking more like 50. A nice round number.

 

[TJSum]

I don't think a single vault system will work either. I was thinking more like 50. A nice round number.

If Mr. Wiley thinks the Lenders will balk at working with one national vault.... wait until they have to work with 51 (DC) state vaults all with their own different systems to coordinate with.

 

[Ken B]

Who is going to pay for it?

Hint: Look in the mirror.

 

[Mr Rex]

I don't know what it looks like but someone used an analogy while we were discussing the issue.

It's a working document, similar to a client making a xerox copy of the report, tearing off the pages that didn't interest them (photos, coversheets, TOC's, transmittal letters, etc.) and then marking it up in red pencil.

No one is under the impression that this is what the appraiser sent.

You make a large assumption Greg. I have seen some of your prose, its quite impressive. Ever done a Lighthouse conversion and rechecked it? You present your data in a certain format so as to be credible, not be misleading, and tell the whole story. I agree with you that I don't have a problem with the lenders stripping my report down to bare bones for their internal uses, but what I have a problem with is the fact that they never saw the meat and taters as I put it on the plate, since they threw everything they found unpalatable to their machine out on the way to their portal. That is no longer my report, but something they created.

 

[Couch Potato]

Don't want to hear that.

The digital signature would apply to multple recipients. There is nothing restricting it to just the first recipient.

Good digital signatures not only verify the security of the report, they also verify the authenticity of the author via hardware. This can be done using a "token," usually a USB fob. The token must be in the computer in order to apply the signature.

Someone could change a report, but the digital signature would alert the reader that the file was altered. Someone might apply another digital signature, but they could not apply yours.

Anyone can Google "digital signature" or "PKI Signature" and see that this is widely used technology.

Appraisers are not interested in such systems. They can do it now, they bear the cost and they could have been using it for years. Such systems take away the ability to blame others for their own shortcomings.

After all, playing the victim is the american way.:new_all_coholic: