Alamode/corelogic/smartexchange - You Have A Right To Be Paranoid

[bnmappraisal]

All SmartExchange is doing is showing you what your peers are reporting, it isn’t making up the data.

Perfect point!

And ... we don't have to use their data. It gives us the option to use it or not (and eventually will cost $0.99/ use) but one does not HAVE to use the peer data

 

[TRESinc]

Perfect point!

And ... we don't have to use their data. It gives us the option to use it or not (and eventually will cost $0.99/ use) but one does not HAVE to use the peer data

while i agree with what you two are saying the big issue here, imho, is the loss of OUR data. as soon as someone opts into this program alamode instantly takes all of the comp data from every report on your computer and/or in your vault, and when opting in the appraiser is taking on all the potential liability for the distribution of said data when they typically don't have the rights to it (MLS photos, client confidentiality on "comps" that were previously a subject, etc). on top of that appraisers give up all that hard earned data for free to a company that will use it to generate a profit for themselves, not us.

 

[Non Sequitur]

while i agree with what you two are saying the big issue here, imho, is the loss of OUR data. as soon as someone opts into this program alamode instantly takes all of the comp data from every report on your computer and/or in your vault, and when opting in the appraiser is taking on all the potential liability for the distribution of said data when they typically don't have the rights to it (MLS photos, client confidentiality on "comps" that were previously a subject, etc). on top of that appraisers give up all that hard earned data for free to a company that will use it to generate a profit for themselves, not us.

Meh. The biggest pushback against UAD was "We don't have access to the data." Well here we are and many appraisers still aren't happy. I'm taking it as intended, it's a look at what my peers are reporting; nothing more or less, no grand conspiracy.

 

[TRESinc]

Meh. The biggest pushback against UAD was "We don't have access to the data." Well here we are and many appraisers still aren't happy. I'm taking it as intended, it's a look at what my peers are reporting; nothing more or less, no grand conspiracy.

no conspiracy here either, but re-read the agreement (especially the parts i bolded) and everything an appraiser grants permission to when they don't have the right, or power, to grant. that is where i think the problem lies.

In choosing to utilize SmartExchange, You agree to the terms and conditions of the TOTAL Suite of Products Software License Agreement (“Agreement”) as well as the additional terms and conditions set out in this amendment (“Amendment”). SmartExchange shall be considered an added ALM product under the Agreement. In instances where the terms of the Amendment conflict with the Agreement, the terms of this Amendment shall govern.

When choosing to use SmartExchange You agree to share Your comparable property characteristics data (“Property Data”) with ALM, its affiliates, and other members of SmartExchange. ALM will integrate the data it receives from You into the SmartExchange database, adding Your Property Data with the data of other SmartExchange members as well as ALM and its affiliates data. The SmartExchange database is owned exclusively by ALM. ALM will take all steps reasonably necessary to keep this SmartExchange database intact and assessable to You pursuant to the terms of this Addendum and the Agreement.

You hereby grant ALM and its affiliates a nonexclusive, perpetual, worldwide, fully paid license to contribute Your Property Data into SmartExchange and create derivative works in the form of products and data which may be provided to other members of the SmartExchange service.

You warrant that the images and materials You provide for contribution to SmartExchange are either owned by You, or You have obtained consent from the owner of such materials. Further, You grant ALM a license to modify or manipulate the data and/or metadata that you submit, so long as ALM does not materially alter or change any of the values or actual content of the data. You warrant that You have the right to share the material submitted, including (without limitation), intellectual property such as trademarks and creative material subject to copyright protection. You hereby agree to release, and hold harmless CoreLogic and its affiliates from and against any and all claims based on any materials You submit, including (without limitation) claims based on publicity rights, defamation, invasion of privacy, copyright infringement, trademark infringement or any other intellectual property related cause of action.

In addition to the disclaimers contained in the Agreement, You acknowledge that ALM makes no representation or warranty to You that the third party data or derivative products provided in SmartExchange is accurate or fit for a particular purpose.

YOU ACKNOWLEDGE THAT YOU HAVE READ THIS ADDENDUM; THAT YOU UNDERSTAND IT AND AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS. YOU FURTHER ACKNOWLEDGE THAT THIS ADDENDUM AND AGREEMENT CONSTITUTES THE ENTIRE AGREEMENT BETWEEN YOU AND ALM AND SUPERSEDED ANY PROPOSAL OR PRIOR AGREEMENT, ORAL, OR WRITTEN AND ANY OTHER COMMUNICATIONS BETWEEN US RELATING TO THE SUBJECT MATTER OF THIS LICENSE. YOU ALSO AGREE THAT ALL OF THE TERMS AND CONDITIONS OF THIS ADDENDUM AND AGREEMENT APPLY TO YOUR USE OF THE SOFTWARE, SHOULD YOU CHOOSE TO PROCEED WITH THE USE AND IMPLEMENTATION OF THE SOFTWARE.

 

[Non Sequitur]

Again, meh. Typical user agreement. If any appraiser is disturbed by that, they should drop gmail, yahoo, Facebook, this forum, heck they should completely cut themselves off from technology and move to the mountains.

 

[TRESinc]

Again, meh. Typical user agreement. If any appraiser is disturbed by that, they should drop gmail, yahoo, Facebook, this forum, heck they should completely cut themselves off from technology and move to the mountains.

i don't think those are on the same level as this, to a degree. for years i have been posting that no one should be using gmail as google keeps a copy of every sent and received email, and attachments, for their own personal records. the same can be said about any free email service. the difference here is that alamode expressly holds the appraiser responsible for the rights to use and distribute the data when the appraisers don't have those rights. as far as facebook and this forum, well we don't typically post confidential information for the masses, i.e. "i am appraising a house where i ran into _______" vs "i am appraising a house at 123 main st, cleveland, oh where i ran into________". big difference.

 

[CompCheck]

Again, meh. Typical user agreement. If any appraiser is disturbed by that, they should drop gmail, yahoo, Facebook, this forum, heck they should completely cut themselves off from technology and move to the mountains.

It's ok to be naïve. The entire profession is. Just keep in mind there is not one program on the planet created with "but lets not take it too far.. we have some manual workers that we need to take care of" in mind. The reality is.. nobody can really stop it. But it is possible that we can make it harder simply by saying no to many of the new products coming our way. Development is EXPENSIVE. If they hit a revenue snag it can throw an entire business model off its rails. By appraisers being naïve we play right into their hands as they need our cooperation at first. What doesn't help is being stuck on stupid and ignore what all the signs are telling us. At least be informed. You don't have to be paranoid.. just don't be in denial either. We won't have to wait long until this debate is answered for us. When the new FNMA forms come out .. it will all come into focus.

Do and think what makes you happy. But keep this in mind if you can make a difference in the future. We both want the same thing: Continuation of our profession in a meaningful and prosperous way.

 

[djd09]

What’s Next for Home Appraisals?
Speakers

• Susan Allen, senior vice president, Valuations Solutions Group, CoreLogic
• David Bunton, president, The Appraisal Foundation
• Pete Carroll, executive vice president, Quicken Loans
• Zach Dawson, director, collateral policy and strategy, Fannie Mae
• Laurie Goodman, codirector, Housing Finance Policy Center, Urban Institute (moderator)

https://www.urban.org/events/whats-next-home-appraisals

Just one big happy family, alalogic, TAF, rocket mortgage, and good ole fannie. Congrats.

 

[CompCheck]

What’s Next for Home Appraisals?
Speakers

• Susan Allen, senior vice president, Valuations Solutions Group, CoreLogic
• David Bunton, president, The Appraisal Foundation
• Pete Carroll, executive vice president, Quicken Loans
• Zach Dawson, director, collateral policy and strategy, Fannie Mae
• Laurie Goodman, codirector, Housing Finance Policy Center, Urban Institute (moderator)

https://www.urban.org/events/whats-next-home-appraisals

Just one big happy family, alalogic, TAF, rocket mortgage, and good ole fannie. Congrats.

Exactly. Although I try and be nice.. how do these dum dums not see THIS coming. Any appraiser that keeps their head buried deserves to have it lopped. off. Unfortunately it is to all of our expense as well..

 

[Evincere]

Meh. The biggest pushback against UAD was "We don't have access to the data." Well here we are and many appraisers still aren't happy. I'm taking it as intended, it's a look at what my peers are reporting; nothing more or less, no grand conspiracy.

Are you saying smartexchange data IS UAD data upon which a GSE hangs their hat?

“. In this seminar, experts will discuss how data, analytics, and technology could advance process changes and enable the appraisal system to better meet market demand. Faster and more accurate appraisals protect investors and government enterprise interests; give lenders certainty from repurchase risk; and ensure consumers are protected and well informed. “

Faster? More accurate? Protecting Investors and government enterprises, certainty from repurchase risk, ensurance consumers are well protected?

Based on...discussion of . A PILOT (experimental) program?


https://www.urban.org/events/whats-next-home-appraisals