A la mode and Mercury Network

[Pamela Crowley (Florida)]

http://biz.yahoo.com/prnews/021022/datu080_1.html

a la mode's 6.4 Million Transaction Milestone Establishes New Benchmark For The Mortgage Industry

XML - does anyone here KNOW that the XML appraisals combined with the Mercury Network is what is being used for data mining for AVMs?

 

[Roger]

Have also read where AlaMode is teaming up with FINIS.

Talk about data mining, IMHO FINIS is the king of selling other people's data.

 

[BarbaraNJ]

I have long been VERY suspicious of where the EDI and Vault appraisals Really go.

A prior post from D.Biggers re the Vault subject states that No One can access your vault but you. However, the host (alamode) has to be able to access it, in my non technical opinion.

I, too, have also wondered just how all of these AVM companies who claim to have a tremendous amount of data actually get it.

Does anyone really know how they get their data, and if sending appraisals through someone's site (like alamode) is opening them for someone else's eyes???

 

[Carol]

Barbara, here at least, they get their info from the most logical place...the same place appraiser's get their info. FINIS bought out our local MLS and I understand several other local MLS throughout the country. They have all they need right now.

 

[Tim Hicks (Texas)]

Barbara, I suspect you are giving them all the data. I have as much proof as you do about Alamode. What about ACI, Clickforms, Day One, etc. Alamode's files are encrypted and can only be read if you the appraiser choose to send them through some service that can be read voluntarily. The Mercury network is a program that converts the encrypted files that the appraiser wants to send to companies that can extract data. Alamode furnishes this program because appraisers ask for it and forces nobody to use it. I have about had it with baseless accusations by appraisers who want to blame Alamode for the appraisal industry problems. Do you realize how many companies still "cull by hand" the data in reports. I imagine many of the reports you do yourself have data extracted that you never know was done. Why would you make an unsupportable comment like that when you have no facts?

 

[Pamela Crowley (Florida)]

I am not accusing alamode of anything. They are doing what they must to stay on top - they made Mercury encryptable so the appraiser can set it not to be taken apart; as I understand it.

I have no clients that have asked me to use mercury so I really don't know very much about it.

My best guesses are that the vast majority of mercury users don't encrypt their files and that any lender insisting on it are mining the data for the AVMs.

My thoughts continue to the point of wondering how many of the 'number hitter' shops are using this. If the number hitter appraisals are also feeding the AVMs, the statistics are being further skewed.

As far as MLS data being reliable..... :lol: :lol:

 

[Tim Hicks (Texas)]

I usually avoid the Alamode and data mining issue on this forum because of the typical "American" solution to everything. The cigarette manufacturers are the cause for cancer. Not, nobody forces people to smoke cigarettes. The gun manufacturers are responsible for gun deaths. Not. I don't own a gun, but I an not dumb enought to believe that gun manufacturers hae anything to do with gun deaths. Pool manufacturers are responsible for drownings. Not. Automobile manufacturers are responsible for auto deaths. Not. Are you guys getting my point?

It takes appraisers to supply the data extracting companies with data. Day One and ACI are two of the biggest contibutors to Lighthouse and the AIRD, but somehow Alamode who can support all of them with the Mercury Network is the culprit. The culprit is in the mirror, folks. It is not "our" data anyway, we pay to access to other's data. If you don't want your data mined, don't contribute to the miners. If you don't, good for you, but you are in a small minority. None of the big appraisal shops bat an eye when it comes to using these products. They don't care, just pay them their fees. Many one person shops use them, they don't care. I do work for WAMU, I don't like their AI ready process, but I "choose" to do work for them. I don't send all my reports and data to them, just their reports. The amount of data they get from me is so miniscule it should not matter, but that does not mean I am not a contibutor. I could quit doing work for them, but look behind me, there is a line of people waiting to do their work and don't care whether their data is mined or not.

Grow up people and realize that we are the cause of our own problems. WE let the lenders dicatate just about every aspect of our business. Any body who tries to blame any software company, lender or appraisal shop is just lying to themselves.

 

[hal]

Good point Tim. How do we really stop the process! (In terms of waking up other appraisers to what they are really doing if they do not read this site) :x :x