Virgina REAB and Portal Petition

[Mr Rex]

Just another thought. If fannie Mae, Freddie Mac, and all the others that buy, securitize, insure or guarentee loans that it was such a good idea to create new forms and formats in 2005 on which to complete mortgage related appraisals, why are they the very ones who want to *******ize these very forms and formats by having them modified or changed from the nature and character of the forms and formats we are required to use. Where are these folks in this discussion?

That's been my question all along Don. If its the "required" form for Fannie and the "required" form of choice for all the other users, why is this an issue? The automated UW functions (and data scrubbing/mining) should be separate from the form of presentation by the appraiser. They have XML, and they can break the security of a pdf. No reason they can't develop technology to scrub a locked pdf without compromising the report/removing the signature etc.

 

[Bearslide]

Just another thought. If fannie Mae, Freddie Mac, and all the others that buy, securitize, insure or guarentee loans that it was such a good idea to create new forms and formats in 2005 on which to complete mortgage related appraisals, why are they the very ones who want to *******ize these very forms and formats by having them modified or changed from the nature and character of the forms and formats we are required to use. Where are these folks in this discussion?

Good question, Don - and I'd like to see it answered.

And I agree with Mr Santora's points - I think it all hinges on the appraiser being able to produce a true copy of what was sent. No matter the medium, if someone wants to alter, they will - my point is the appraiser must not be put in the position of being complicit in it by not knowing and not being able to produce what was sent.

 

[DWiley]

- my point is the appraiser must not be put in the position of being complicit in it by not knowing and not being able to produce what was sent.

Agreed. But when I produce an AIReady file a preview screen opens up, just like it does when I create a PDF file. The only reason I would not know what was submitted would be that I didn't look at it. And, I can go back an look at again later if I want.

I can't print it right now, and I have agreed that is an issue. Perhaps this isn't a big sticking point for me because I don't print my PDF files either. I just store them electronically and keep them backed up.

 

[Bearslide]

Agreed. But when I produce an AIReady file a preview screen opens up, just like it does when I create a PDF file. The only reason I would not know what was submitted would be that I didn't look at it. And, I can go back an look at again later if I want.

I can't print it right now, and I have agreed that is an issue. Perhaps this isn't a big sticking point for me because I don't print my PDF files either. I just store them electronically and keep them backed up.

I don't print them either - I save them to a backup computer as well as an off-site storage server. BUT - if I get a call to reinspect a property I have inspected before, I can, and do, print the original to compare to current inspection. If my State Board or another regulatory agency were to demand a report and workfile, I can produce it. I think many of us are questioning why that very simple function is not available and was not designed into the software to begin with.

And I don't think the resistance to AIReady is to technology as much as it is to we can't prove what was sent and many of us don't like being coerced and pressured with threats of no work if you don't use this brand of software.

It seems that only Lighthouse and AIReady are being shoved down appraisers throats - and both have the capability to alter reports AFTER being sent. Why is it so important to lenders to have reports in formats that readily strip signatures? And why are they so anxious to have it that way that they threaten loss of business without it? I would really like to hear the answers to those questions.

And if you want to talk resistance to technology, let's talk about that - very few lenders seem able or willing to produce a full, complete, color pdf of reports to be reviewed. I have spoken with several direct lenders and they admit that reports are torn apart as a matter of course. Fine - their reports - have at it. But in this day and age, where are THEY on technology? Electronic storage is cheap - so much for technology. That street goes both ways.

 

[peturner]

Well I go back to the State's responsibility AND my past experiences on the Board. Virginia USED to have a requirement that ALL reports be done on paper AND that they have a seal attached to them for authenticity. It mattered not if were a ink/stamp type affixation or a crimped kind....However, I utilized crimped because it would not copy in a copy machine......can you say, perhaps, that I valued my signature AND my seal....as technology eveolved, Virginia allowed the transmission of reports without that HOLY SEAL....was Virginia REQUIRED to do that by ANYBODY?!?!?!? FHA, FNMA, FHLMC, VA, or ERC clients???? Nope, Virginia did that as a business accomodation.....NO ONE can argue that point....I was on the Board when it was done so I know the intent...and now we KNOW the results. Is Virginia within its rights as a REGULATOR to go back to requiring paper originals with the appraiser's seal.....I believe as a legal question it does have the RIGHT to do that....there is no federal law or regulation that REQUIRES electronic delivery.....It is an accomodation to the USERS of reports.....but the industry assurances have been and continue to be that my document is just like the paper copy I sent......The question is WHY is the appraiser forced to convert? That is the question and the only question and NO ONE is giving me the FULL, OPEN, and HONEST answer to that.....thank goodness we have Boards in various states that desire an answer as well.

 

[DWiley]

Why is it so important to lenders to have reports in formats that readily strip signatures?

First, the signature is not "stripped." The signature is handled as it is (and has to be) in any electronic file. Anyone with real concerns could simply apply only a real digital signature, and that fear is addressed. I have multiple digital signatures, and most do not include an image of my hand written signature, so there are no concerns about someone "stealing" that image.

The AIReady format makes their lives easier. They can automatically check things like - what are the net adjustment percentages, how far away are the comps, are all the blanks field in, was the value field left blank, etc. Because data fields are uniformly tagged, they can also automatically compile production reports, etc.

I have plenty of clients that won't send me business unless I email my reports, unless I use their portal, unless I always do a cost approach, unless I take my photos from certain angles, etc.

Working with any client is a priviledge, not a right that comes with state certification. Appraisers can opt not to work for clients with requirements they don't like. Over the years I have taken many off my list of approved clients.

 

[peturner]

It is a little amusing to hear the arguments some have made here..but the truth is the conversation has changed drastically over the last 6 to 12 months....The talk has gone from "oh no, we would never do that" to a new spin that said "oh, well it is ok to do that because that is what the CLIENT wants" to where now the story is "well, YOU the appraiser are doing this and if you rock the boat, blah, blah, blah".
Some also have said in here they are afraid that most BOARD members are ill-prepared, or ill-trained, or ill-advised and should not be asking these questions and perhaps taking steps to protect the citizens of their States. If that is not self-guided, I have never heard it. Most of you in here have no idea the education one receives "on the job" by being on the States' Boards.....Very few of you realize the time commitment to serve the State.....I am proud to do it....but for $60.00 per day I could PAINT houses and not have the hassles.....also, one could turn down the appointment to the Board... and some have....it is their choice.....
ADDITIONALLY, our Board and Committee meetings are open to the Public...come and see for yourself......

 

[DWiley]

Some also have said in here they are afraid that most BOARD members are ill-prepared, or ill-trained, or ill-advised and should not be asking these questions and perhaps taking steps to protect the citizens of their States.

Don't know if that was aimed at me or not, but in case it was, I want to be clear on my position. I have said that most board members are not currently educated enough on the techincal issues to tackle them, and I stand by that. I have talked to a lot of board members, and most did not understand the technical issues at all. The proposed Georgia rules would be my Exhibit 1 in support of that statement.

I have not said they should avoid the issues, I have said they need to educate themselves if they want to take on these issues and make the good decisions. That would be true no matter the issue.

 

[Bearslide]

First, the signature is not "stripped." The signature is handled as it is (and has to be) in any electronic file. Anyone with real concerns could simply apply only a real digital signature, and that fear is addressed. I have multiple digital signatures, and most do not include an image of my hand written signature, so there are no concerns about someone "stealing" that image. That should be the industry standard - not a specific software program.

The AIReady format makes their lives easier. They can automatically check things like - what are the net adjustment percentages, how far away are the comps, are all the blanks field in, was the value field left blank, etc. Because data fields are uniformly tagged, they can also automatically compile production reports, etc. And they can do the same with alamode and ACI readers, and I imagine other brands. All of these other software programs allow the appraiser to save and print what was sent.

I have plenty of clients that won't send me business unless I email my reports, unless I use their portal, unless I always do a cost approach, unless I take my photos from certain angles, etc. As does every appraiser on this forum. Big difference between those items and investing in software that is of no benefit to the appraiser and does not allow the appraiser to reproduce what they sent.

Working with any client is a priviledge, not a right that comes with state certification. Appraisers can opt not to work for clients with requirements they don't like. Over the years I have taken many off my list of approved clients.

As have I. Clients have a right to ask for many things that result in credible, solid appraisals. They have a right to determine where the report is to be delivered. They have a right to ask for pictures a certain way, interior pictures, even distances and times of sale. They do not have the right to dictate software usage, nor should they - especially software that may leave the appraiser open to charges of fraud, altered reports and no way to prove otherwise. That is pure and simple coercion and restraint of trade. And for the record.......working with honest, ethical appraisers who take their responsibilities seriously is a privelege as well. Clients earn that privelege - and they don't do it by threatening loss of work in exchange for sotware usage that can not be produced as a hardcopy.

 

[Ken B]

And for the record.......working with honest, ethical appraisers who take their responsibilities seriously is a privelege as well. Clients earn that privelege...[COLOR]

Wow. That says a lot.