Virgina REAB and Portal Petition

[TJSum]

If a client converted a report from PDF to AIReady, then the client would already have the viewer. Since the appraiser sent the report in PDF, the appraiser would need only Adobe Acrobat to view what he/she sent.

Okay, I admit to be confused by all this high tech stuff. But if the client always had the capability to convert PDF's into AI Ready, WHY WAS THE APPRAISER DRUG INTO IT !!! Why was the conversion put on the appraiser when it wasn't necessary?

 

[George W Dodd]

What the Appraiser sees/prints via any AppraisalPort viewer is not what is actually sent. The report is reduced to nothing but data, no form is actually sent in the file. In order to "view" what the Appraiser supposedly sent, it is necessary for the client/lender/user to IMPORT that file into another software program (ACI is one the major converters used).
This type of manipulation allows for changes to be seeming-less made to the appraisal report.

BTW: Many of you do not realize who and what the appraisal foundation severs. The af was created to protect the users of appraisal services, it does not protect the appraiser. Never has and never will. Just look at the members of the appraisal subcommittee and then look at every aspect of USPAP. Nothing in USPAP protects you, it's not suppose to.
The next question, why would any Appraiser consider anything any current or former member of the af has to say? They are and will always be the mouthpiece of the users.

 

[TJSum]

I don't know any appraisers that really like it. I don't. Like others, I prefer more control over the presentation. However, there is a BIG difference between not liking something and saying it forces appraisers to violate USPAP.

I have many clients that use AppraisalPort. Only one requires use of AIReady format, and that is the only one I use it for. Over 99% of the reports we have sent through AP have been in PDF format.

I have said all along my concern is not with AIReady itself. My concern is with rules (like those proposed in Georgia) which are aimed at AIReady but end up applying to other formats.

Someone said earlier that this is drawing to an end. I could not disagree more. If state boards start (or try to start) regulating delivery systems (be it portals, e-mail, snail mail, curriers, etc.) whatever happens in VA will only be the opening salvo.

DW !!! I and others have been trying to get this point across for 1200 post, and you and the defenders have told us we just don't understand or spend enough time to learn the software. Glad to hear you agree with us now. :new_multi:

Maybe that is why other members of your side have been desperately trying to change the subject on this thread. Yesterday, you admitted there was data mining advantages to it and today you agreed the software limits the appraiser's ability to communicate the report.

 

[Joyce Potts]

Okay, I admit to be confused by all this high tech stuff. But if the client always had the capability to convert PDF's into AI Ready, WHY WAS THE APPRAISER DRUG INTO IT !!! Why was the conversion put on the appraiser when it wasn't necessary?

Here we go again.

My suspicion is when they sign up with some AMC's they're signing their copyrignts away. This way, restricting the appraisers to primarily deliver their reports to lender/clients they really have only two choices: Give the AMC the right to use any and all data in the report or go flip burgers.

Wasn't it Mr. Rayburn of FNC that was quoted as saying that '...appraiser data is the new gold standard'? Or something like that.

IMO, the entire HVCC concept was hi-jacked under the pretense of AMC's being the ultimate firewall of protection against lender pressure to inflate values, among other things. Lets face it, who's opposed to that? Sounds great!

When in fact, if and when a few AMC's gain the lion's share of the appraisal ordering and receiving market they have a built-in opportunity to data mine those appraisals with the bigger and more profitable goal of populating their data bases to either sell back to the pitiful appraiser (who provided the data to begin with without licensing rights) or to use for their AVM's or other hybrid products.

As an AI member, I'm still not satisfied with the lame explanations as to what happened to AI Ready and the promise to compensate those appraisers who subscribed to it. Now they're being forced to subscribed to it without compensation.

Remember--faster and cheaper is always the goal. No one really gives a rats arse about quality anymore. Unfortunately, much like 9-11, this mortgage meltdown will be a fading memory. The markets will stablize and the lenders will be making faster loans and faster loans = bigger profits. The valuation product that use to be known as an appraisal OPINION is now a computer generated value ESTIMATE that goes totally unchecked and unregulated, even though it's used for virtually the same exact purpose. Go figure.

AVM's have been relied on more in the last several years than at any other time in lending history, yet has anyone researched, much less published the relationship between the increased use of AVM's and lender losses? Why is that?

 

[Fred]

DW !!! I and others have been trying to get this point across for 1200 post, and you and the defenders have told us we just don't understand or spend enough time to learn the software. Glad to hear you agree with us now. :new_multi:

You must have stopped reading at the word, "however."

Maybe that is why other members of your side have been desperately trying to change the subject on this thread.

I am not on anyone's side, nor opposed to anyone's side. I have asked a number of individuals what the problem is here, and no one has answered yet. It's just random emotionalism, as far as I can tell.

 

[TJSum]

Not to take the AVM side, but from my understanding they are used on the "solid loan" applications (buyers with good credit, higher equity ratios, etc.) The appraisal reports are needed for the shaky loans, so it should stand to reason that the AVM's might have a better foreclosure record than appraisals.

It reminds me of when one of the end users states appraisals are bogus because 95% + of the reports they see just hit the sales price. Hello... maybe it is because the users further up the food chain never see the ones that kill the deals, those do not turn into loans. Or when they change the sales price after the appraisal to match the appraised value. m2:

 

[TJSum]

You must have stopped reading at the word, "however."

I am not on anyone's side, nor opposed to anyone's side. I have asked a number of individuals what the problem is here, and no one has answered yet. It's just random emotionalism, as far as I can tell.

Steven, I did not say he agreed with the USPAP end of things, that is a separate issue, I will leave that to the USPAP experts to determine. But he did agree, the AI Ready format is more limiting than the native software, this is what I have been trying to convey in this thread.

As to your second statement, there has been so many post in this thread so I am not sure if I am remembering correctly, but I believe you stated you never used the conversion programs. If you ever gave them a try, I would bet they would have you swearing at your computer too.

 

[Workbox]

Steve are an MAI by any Chance?

 

[Workbox]

What the Appraiser sees/prints via any AppraisalPort viewer is not what is actually sent. The report is reduced to nothing but data, no form is actually sent in the file. In order to "view" what the Appraiser supposedly sent, it is necessary for the client/lender/user to IMPORT that file into another software program (ACI is one the major converters used).
This type of manipulation allows for changes to be seeming-less made to the appraisal report.

So we are still back to square one. But the actions taken to make a viewer, is evidence of the issue. Similar to all those new/updated contracts with copyright verbiage.

 

[PropertyEconomics]

I am not on anyone's side, nor opposed to anyone's side. I have asked a number of individuals what the problem is here, and no one has answered yet. It's just random emotionalism, as far as I can tell.

Doubtful its quite so random.