Virgina REAB and Portal Petition

[DWiley]

They do not have the right to dictate software usage, nor should they -

If that is your position, are you also against the PDF format? It is far more common for clients to require PDF format as a condition of doing business with them than it is for a client to require AIReady.

All of these other software programs allow the appraiser to save and print what was sent.

And I have agreed many times now that should be an option.

 

[Dutchman]

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

As stated previously, ACI and Alamode already provide a quality check (review) program that can be tailored to any client need. If a client desires a copy of that, I will be glad to attach it to the appraisal report. If a client desires to run that particular "review master" themselves, they are welcome to do so on my native software file.
If any client wants to data mine, I have to say one thing. I pay for my data and since the MLS data is not in the public domain, it is not theirs.
MLS allows me to use their data for my reports but restricts any further use. I believe that "data mining" in such a case is tantamount to stealing.
And as a quick reply to the previous post, PDF format remains true to the original and does not alter any data fields and converst all the pages rather than selected ones.

 

[Bearslide]

As stated previously, ACI and Alamode already provide a quality check (review) program that can be tailored to any client need. If a client desires a copy of that, I will be glad to attach it to the appraisal report. If a client desires to run that particular "review master" themselves, they are welcome to do so on my native software file.
If any client wants to data mine, I have to say one thing. I pay for my data and since the MLS data is not in the public domain, it is not theirs.
MLS allows me to use their data for my reports but restricts any further use. I believe that "data mining" in such a case is tantamount to stealing.
And as a quick reply to the previous post, PDF format remains true to the original and does not alter any data fields and converst all the pages rather than selected ones.

My points exactly earlier in this thread.

To DWiley - PDF format does not require me to change my software or convert one software program to another and as Dutchman said, does not alter data fields. PDF is, and has been the standard, and should remain so with more attention paid to signature security. It would make much more sense for lenders to have several different readers than for thousands of appraisers to have to convert reports or buy specific software.

And yes, you have conceded that the save/print function of the AIReady software needs to be addressed. That will go a long way with many who are questioning the software. But until it is addressed, it remains an issue.

If an appraiser chooses to use AIReady, that is certainly their right. We should all be free to choose the software of our choice, without being coerced into it and threatened with loss of income. Considering the myriad of forms now being used, and the complexity of them, for me, adding another layer of complexity is not inviting.

Seems to me a way to head would be for someone to come up with a universal reader so that lenders could do their checks in every software format easily. Likewise, for signature security to become the norm. If lenders were really all that interested in the integrity of reports (which at this point remains unproven as to whether they really are), that is one demand they could - and should - make. I doubt anyone would take issue with lenders requiring true digital, secured signatures.

 

[Workbox]

Bearslide, would it really matter if the lender had the final product? I remember that the banks only keep those reports for only one year from another thread. So even if you did get the viewer, could the bank produce the appraisal. It may be easy to get a copy of the appraisal right away, but what about a year from now? Try calling you lender folks and see if they can produce it. Since AHM went BK, I have been getting called to send them copies of reports. Mmmm I wonder?

 

[BRCJR]

Bearslide, would it really matter if the lender had the final product? I remember that the banks only keep those reports for only one year from another thread. So even if you did get the viewer, could the bank produce the appraisal. It may be easy to get a copy of the appraisal right away, but what about a year from now? Try calling you lender folks and see if they can produce it. Since AHM went BK, I have been getting called to send them copies of reports. Mmmm I wonder?

I have reviewed reports in loan files well over a year old. Many as old as 5 and 6 years, some as old as 10. Banks must keep loan files for several years after the loan has been closed, much like an appraisal workfile. The appraisal is a part of this file.

 

[Bearslide]

I have reviewed reports in loan files well over a year old. Many as old as 5 and 6 years, some as old as 10. Banks must keep loan files for several years after the loan has been closed, much like an appraisal workfile. The appraisal is a part of this file.

Ahh, but the WHOLE appraisal, Bill? Inevitably, what I get is a blurry faxed copy of the first 2 pages. No addenda, photos, maps, floor sketch, etc.

I have seen some recently that had me wondering who actually wrote the report - the wording varied, the syntax, even the type font - had me wondering if it was produced by one of the assembly line chop shops or if it was cobbled together by a helpful loan officer and even more helpful processor.

I have made the point before - lenders are free to tear reports apart and use pieces to make paper airplanes from if they so desire. But it seems to me that when the report is received, it should be stored, electronically, in its entirety as issued. Electronic storage is cheap. It is asking an awful lot (and I wonder if it isn't deliberate) to have reviews done on partial pieces of a report.

To answer Workbox's question, I don't know if there is a time period lenders are required to keep an appraisal. Seems to me it should be until either the loan is paid off or is remortgaged. But, like you, I have to wonder why they can't seem to keep track of reports, Makes me wonder what is really going on - like - is an altered report submitted for approval, but then they need the real deal for the borrower? I just don't know anymore. Is it as simple as someone forgot to save it? Who knows? But I have become suspicious as more andmore comes to light.

My favorite daydream is that all lenders want the truth, all appraisers are honest and all loan officers are paid on salary. My Dad must be rolling in his grave at the goings on today..............

And now, we return you to your regularly scheduled AIReady/FNC bashing..................

 

[DWiley]

To DWiley - PDF format does not require me to change my software or convert one software program to another and as Dutchman said, does not alter data fields.

AIReady doesn't require one to change software either. It works with all major forms software.

As for conversion, that is exactly what a PDF maker does. It converts the native file into PDF fomat.

PDF does not alter data fields? My version sure does. I often have to run files through Adobe more than once because of conversion errors. That is why I have constantly said appraisers should preview reports before sending them, regardless of the format.

Seems to me a way to head would be for someone to come up with a universal reader so that lenders could do their checks in every software format easily.

That is the very point of AIReady.

 

[TJSum]

With Adobe PDF, using that program which was designed to make an identical copy of the appraisal report. If/when any changes to the report are seen, it is a technical error. All one would have to do, is run the adobe writer once again to correct any found errors (which in my experience is less than very rare). However, the AI Ready and Lighthouse conversion programs have in their design for changes to be made to the report, and some pages will not convert at all.

To say these three are all very similar "conversion" programs is just not correct. PDF is designed to make an exact copy, the other two are not.

 

[Carnivore]

To say these three are all very similar "conversion" programs is just not correct. PDF is designed to make an exact copy, the other two are not.

In very simple terms Adobe PDF is a printer. It resides on your computer as a printer. Now its much more than that, but to state that adobe is some form of conversion process is misleading at best.

 

[DWiley]

...to state that adobe is some form of conversion process is misleading at best.

Misleading, huh. Here is how Adobe describes it,

"And with Adobe® Acrobat® 9 software, it can. Now it's easy to convert almost any file to a polished PDF file."

http://www.adobe.com/products/acrobat/solutions/detail/combine_share.html

Perhaps Adobe does not understand how their own software works.

It is a different kind of conversion, but it is a conversion.

Some have suggested errors in PDF conversions are "less than rare." I find significant errors in PDF conversions very often, and the appraisal reports I convert into PDF format are almost never exactly like what I see on the screen.