Virgina REAB and Portal Petition

[peturner]

How naive are we? Get a real grip on what is and what has happened.

 

[CANative]

The irony in the vault concept is poetic, I have to give it props for that. Lenders ask appraisers to use portals and software that some appraisers don't like. Appraisers respond by promoting a system requiring lenders to do the same thing. I am sure that lenders will be much more open to switching their technology than appraisers have been - NOT.

I agree that many lenders are in bad shape right now. However, I don't attribute very much of that condition to altered appraisal reports. I have seen a few cases, but that is not the big problem.

I do attribute a lot of their condition to the fact so many appraisers have been/are willing to hit the "magic number" that altering reports hasn't typically been necessary. I have seen a lot of these cases.

 

[TJSum]

The irony in the vault concept is poetic, I have to give it props for that. Lenders ask appraisers to use portals and software that some appraisers don't like. Appraisers respond by promoting a system requiring lenders to do the same thing. I am sure that lenders will be much more open to switching their technology than appraisers have been - NOT.

I agree that many lenders are in bad shape right now. However, I don't attribute very much of that condition to altered appraisal reports. I have seen a few cases, but that is not the big problem.

I do attribute a lot of their condition to the fact so many appraisers have been/are willing to hit the "magic number" that altering reports hasn't typically been necessary. I have seen a lot of these cases.

That is one of the great benefits of the "vault", it shines light on the serial number hitters and allows enforcement to flush them out of the system much more quickly.

Just a note on the first paragraph, the lenders did not ASK the appraisers, they demanded them, and the cost of using these conversion programs was all on the appraiser. I still don't see the massive cost involved with accepting a PDF report (there are free readers available for everyone). IF you need to design different programs for review functions or data mining functions, well that is the lenders choice on how much to spend.

 

[Workbox]

I do attribute a lot of their condition to the fact so many appraisers have been/are willing to hit the "magic number" that altering reports hasn't typically been necessary. I have seen a lot of these cases.

If you guys at the TAF, ASB, state boards would have done your job in protecting the interest of the American public, not the wants and needs of your backdoor clients, the data miners, and lenders, we would not have the issues that we have now. This forum warned of such changes in data mining and licensing that caused an exploitation of skippy appraisers for the AMC's, garbage in and garbage out, and sure enough they were correct. Now you are trying to defend, and this is with speculation "Your Baby".

After all, you guys were consultants in many of those FNC and AIREADY meetings. They were the engineers of and attributed to The American Global Crisis.

 

[DWiley]

I still don't see the massive cost involved with accepting a PDF report (there are free readers available for everyone).

The cost is not in the PDF reader. The cost would be in developing and maintaining a system that could accurately track millions of reports per year, keep them secure, allow access to authorized parties, etc.

Even if the cost was low, lenders still wouldn't want to do it. They are are no more open to change than appraisers are.

If Alamode gave their software to appraisers for free do you think you could get every appraiser to switch?

 

[CANative]

If you guys at the TAF, ASB, state boards would have done your job in protecting the interest of the American public

I thought they promulgated USPAP? It's not "their" fault if some appraisers don't give a hoot about it. And isn't it the mission to protect the public trust rather than interest?

 

[CANative]

The cost would be in developing and maintaining a system that could accurately track millions of reports per year, keep them secure, allow access to authorized parties, etc.

Why don't we just build a 20' steel wall around some small state and keep the reports there?

 

[Ken B]

Now to the above, how on earth does the vault promote usage of an AMC? In fact it clips their wings somewhat, because many AMC's are the ones demanding usage of conversion programs, such as Lighthouse.

You don't think that once the idea of a "Vault" kind of becomes, well, maybe, okay, that the idea won't evolve into something a little more encompassing? Maybe something like, oh, I don't know, maybe a panel of reviewers who will screen a certain number of appraisals submitted by each appraiser to the vault. Well, okay, yeah, maybe that's alright. Really, you guy's are alright with that, well, good, we are just trying to improve the profession. Hey, you know what might also be a good idea? Well, you know, the lender's already have to download the appraisals from the Vault. How about we have lender's submit all appraisal requests to the Vault for distribution to the appraisers? You know, that way, there are no "favorite" appraisers or anymore of that "preferred appraiser" nonsense? How will we assign appraisers? Wow, that's a good question. I know, we will use a rotational system. Yeah, that's the ticket. A rotational system?

Tell me, how does an AMC work again?

Cough, cough, (IVPI), cough...

How naive indeed...

 

[Workbox]

I thought they promulgated USPAP? It's not "their" fault if some appraisers don't give a hoot about it. And isn't it the mission to protect the public trust rather than interest?

They are in cahoots with each other. They know very damn well what many of us are talking about.

 

[Dutchman]

Workbox

You hit the nail on the head. Almopst everywhere you turn wherever decisions "for" the appraisal profession are being contemplated, you see the same cast of characters. They float from the AI to Zaio to FNC or 1St America. Coincidence???? Sure it is (sarcasm intended)