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

[CompCheck]

redundency

 

[CompCheck]

Michigan CG - I'm going to do my best not to debate you here because the information is very important and we don't need a bunch of debate clouding it up. If I had to make one point: have you ever done a rural report and added an MLS photo in addition to the one you took of the driveway? That one is going to be used the most. IMO you are very wrong about this and almost everyone is at risk. Those that have done their research and are closer to the problem and maybe a little more tech savvy will understand. This is not just about covering one's behind. It goes much deeper.

 

[CompCheck]

not sure, but to add to the alarm i have a friend who still uses alamode and i sent him the info i found in this thread. he never opted in but when he called today he was told he was already part of the 30 day free trial, which means they have all his info already. probably best to call them directly.

That is the word on the street. They are already taking all information. For example - it is 100% certain that your last 20 reports goes into their cloud as a "convenience" to you and there is no way to stop it. The cloud is nothing but a database. They do not say if that database is being used for AVMs or other internal uses.. and they could even be sharing it without your knowledge... There's no way to know.

This is a very useful to them for hybrid products because they can now use an joe (agent, school teacher, college intern) to do the inspection in your market and if they have access to your comps the signing appraiser doesn't even need to be in your market anymore. No local MLS access needed. Its all in the database.

Besides the fact they are holding you liable for the data when it is shared - They can also eliminate your future work through the consolidation of appraisers in one national shop using shared/stolen data to complete reports accepted by FNMA as equal to the report on your desk.

 

[bnmappraisal]

If they had done this under alamode before corelogic came on board, I would have been the first to sign up.

I didn't exactly know what it was going to be at the time ... but sounded like something I would be willing to try for myself and decide if it was for me or not ... This was part of an email sent out from ALM dated 10/XX/2017
"Thanks for pre-enrolling!

Keep an eye on your inbox over the next few weeks for instructions on next steps.

By signing up early, you've guaranteed that you won't pay anything for the first year that it's not free. Plus, you've upped your chances of being in one of the first locations to go live.

On that note, please tell your peers about the program. Encourage them to pre-enroll at www.alamode.com/SmartExchange. The more interest we get in your area, the better it is for you.

Thanks again!


Your friends at a la mode"

I'm pretty sure that was BEFORE C logic bought them out...

 

[Skeletor]

it's not being stolen by FNMA, it is freely given to them by our clients, who have the right to distribute the reports we send them to whomever they want to.

Thank you! The sky is not falling people. Banks, GSEs, etc., have had access to this data since UAD was implemented. SmartExchange just gives us the ability to share property characteristics with each other. There is no USPAP violation, no copyright infringement, MLS violation, etc. Darth Vader is not going to emerge with his red light saber.

I bashed SmartExchange in another thread a few days ago but I'm starting to come around. I called Alamode earlier today about a potential flaw; I was unable to find my own report where I had used the comp but the solution was to simply click SmartAddress in the side-by-side view. They said that they are working on bringing that feature into the SmartExchange side-by-side since I'm not the first appraiser to complain. I'm starting to come around like I said but I'm still weary. To be continued...

 

[bnmappraisal]

How does this opt-in process work? I just want to make sure that I haven't opted in without my consent or that I have missed something.

In ALM ... when you open a report ... toward the top left of your screen/tab(s) ... look under "Data" (it's between "Tools" and "Deliver")

At the bottom there should be something saying "Join SmartExchange"

Pretty sure that's where you opt in/opt out (I have not clicked on it yet)

 

[TRESinc]

They can also eliminate your future work through the consolidation of appraisers in one national shop using shared/stolen data to complete reports accepted by FNMA as equal to the report on your desk.

everyone who is an active participant on this board will be long gone before what you suggest actually happens.

 

[bnmappraisal]

talk about paranoia ...one national firm

 

[BRCJR]

I don't see this is something appraisers need to worry about..........you all are over-reacting. BUT, sounds like the people who might have a concern are those that don't take original photos and use MLS photos. I have no problem with them getting sued.

That, getting sued over photos, would be a case by case per MLS board.
Some allow for an Appraiser to use the MLS photo without having to gain permission for each photo.
Being aware of the MLS bylaws, which I find many Appraisers are not, is a smart thing to do.

 

[Ahhhh Yeahhhh]

Does no one recognize the problem with YOU the appraiser giving CORELOGIC permission to use MLS data to re-sale.... MLS DATA THAT they make you claim that YOU have ownership of. You don't own the data and you CANNOT give CORELOGIC permission to distribute it.

This is the real problem... too bad I am the only one seeing it. Its about breaking contractual agreements on teh appraiser's end... not about USPAP, not about comp photos... not about national shops. its about THEM enticing you to break an agreement for CORELOGIC to profit and YOU to take the BLAME.

That 99cents per report will add up quite quickly for CORELOGIC... something they have ZERO liability for. Your MLS will sue you and win a judgement for Thousands if not MILLIONS over this. And YOU will be LIABLE for Corelogic's defense as well.