Appraisal Port user agreement, now what?

[Bearslide]

Dan,
I don't know who implied that signing the agreement would void E&O coverage. I didn't.

But we're still addressing mistakes the appraiser makes. My concern is this part of the LIA attorney's letter:

"In the indemnity provision of this agreement, you are agreeing very broadly to pay all of AppraisalPort's losses, damages, expenses, etc. which might result from any aspect of an appraisal delivered through AppraisalPort
-- even if, the loss or damage is the result of AppraisalPort's own "sole negligence." In doing so, you are agreeing to pay potential costs and damages that are broader than can be covered by your insurance.
Indeed, as an example, you are agreeing to pay for losses not only due to your own potential mistakes, but also due to AppraisalPort's own negligence (if AppraisalPort, for example, chopped up one of your reports or deleted important information) and agreeing to pay AppraisalPort to defend against its own negligence. "

Above and beyond that, my original question to the forum was only this:

If you have decided you are not going to sign the agreement and you have good clients that use AP, what are you going to do?

To answer your question..here's what many are doing.........

http://appraisersforum.com/showthread.php?t=143698


[QUOTEBearslide]
Gather round, shipmates.... and listen closely

We are in a WAR...and war is hell. But when you fight that war on a tall ship with truth behind you, the war can be won.

This monumental battle has gone beyond a few shots over the bow. Ponder this, if you will.

1. The ports user agreement is the most onerous agreement anyone has ever seen........including the E & O carriers. Ask yourself why. Why should it be necessary for this huge corporation, handling thousands of appraisal reports, to design such an agreement? Why is it so all-inclusive? What is it that they feel must be protected? If there is nothing happening with reports, if they are being delivered to lenders as the appraisers wrote them, why this agreement?

LIA is asking those questions.......and lenders are starting to ask the same questions.

2. Numerous lenders are reacting to this agreement and the implications behind it. Numerous lenders are getting very uncomfortable with what may be headed their way. They are finally beginning to understand the foul bill of goods they have been sold.

3. Outsiders are starting to pay attention. Appraisal Scoop and Working RE both have articles that are being widely read. Reporters are starting to ask the right questions. I was interviewed yesterday, along with several others - I know this is fact.

Hard questions are being asked and a bright light is finally being shone into the dark corners of the port. The corners they would just as soon never see the light of day.

If there was ever a time for appraisers to act in unison, THIS IS IT. Our Irish Pirate, Mr. Kennedy, spoke the truth............the hull is taking on water. THIS IS IT...stand with your shipmates and fight. Your injuries will be minor, your booty great. Will you watch this battle unfold from the sidelines................or will you take up a weapon and join your crewmates? It matters not any personal bias or dislike or likes any of us may have of others. For the moment, put dislikes, fear and prejudice aside and join as one. The port has given us the very weapon we need - served it up to us on a silver platter. We HAVE help from unexpected quarters. More ships are sailing to us. We must push the advantage. It is time to turn every cannon we have on the port, fire at will........... and sink her.

You may say...but I have no weapon. YOU DO. You may say, but I will lose clients. I DOUBT IT. You may even say......but I don't use the port......why is this my fight? Think on what is ahead and the stakes to be won. The port is still selling her foul brew. The next lender to drink it may be one of YOUR clients.

Your weapons are simple......your phone, your fax, your email. Contact the lenders you know to be using the port......give them a copy of this shameful agreement AND the two letters from LIA posted earlier. Ask them if this is really what they intended when they signed on. Ask them to review the documents and decide for themselves if they want to be put in the posiition of buying back loans. Tell them that appraisers all over this country are refusing to sign this agreement. Tell them that what they will be left with is those appraisers who don't care to stay current, don't care about this profession, don't care about the quality of their reports and don't care what their client receives. If you fear telling them all that, then simply ask them to review the documents and decide for themselves. NUMBERS COUNT. Don't sit back and say "well, I know so and so already called Lender A. NO. YOU - and YOU - and YOU - call Lender A through Z. At least one very large lender is taking ACTION - BECAUSE they have been inundated with phone calls.

Second........call your E & O carrier. Many have contacted LIA. Don't let them carry this battle alone. If your carrier is different, get this agreement and LIA's statements to them. They see the foulness of this agreement - they can be our ally.

For those of you working for AMC's through the port. Call them. Give them a copy of the agreement and LIA's letters. Ask them if they are aware of the jeopardy they are placing themselves and their lender clients in. You may find yourselves pleasantly surprised. If a lender or AMC seems not interested, ask to speak to their Chief Compliance Officer or Manager. THEY will be interested.

For those working for Fannie............they too have been sold a bill of goods. Contact them.......get the agreement and LIA's letters in front of them. They are already under siege.............do they really want more??

If you need the letters or the agreement they are posted and I have them as well. PM if you need assistance.

IT IS TIME, MATEYS....sail with us and join the boarding of the opposition's ship. OUR ship is finer, faster and armed with truth. OUR ship is better manned to fight in a storm. Again.......help from unexpected quarters is on the way.......we are not fighting alone.....but WE MUST FIGHT TOGETHER. NOW. TODAY.

THINK, mateys..........we have this chance..........this ONE chance. Take it NOW. We CAN win this.......but every hand is needed on deck. HOIST THE COLORS.........TO ARMS!!!!!!!!

http://www.youtube.com/watch?v=l-eDO...eature=related

__________________
You want me to sign WHAT???? Convert this........
[/quote]

 

[Carnivore]

Its getting worse. I have know realized that conversion use of AIport by North Carolina appraisers may put them in direct violation(non-compliance) of North Carolina Law in regards to signatures and State Seal requirements.

the issue is that the State Seal must be a certain size. The AI conversion changes the size of the signature to something much much smaller along with the size of the seal.

The only way I can solve the problem is to use ONLY the PDF option of AIport delivery.

I am so sick of this company. They are interfering with North Carolina Commerce by getting in between appraisers and the Lending clients who operate in my state.

There level of arrogance is beyond the breaking point for me. I have had it!

They must FIX IT or get out of the way.

The solution is now down to informing the lenders of the problem and finding them a suitable substitution in the form of a FNC competitor!!

Bottom line is they are not indispensable.

FNC, You can and will be replaced!

 

[McPheeters]

Here, here!!^. To All: Let your client know what is going on down here in the trenches, I am finding that they do not have a clue. They may very well allow you to send PDF and bypass AP altogether, you wont know till you ask. I did hear that Landsafe has already been in contact with FNC about the "agreement" and that L/Safe's position is that its the appraiser's problem. It could become L/Safe's problem if they want good appraisers, if not, oh well and goodbye!! Bottom line is, dont sign it!

 

[Bearslide]

Its getting worse. I have know realized that conversion use of AIport by North Carolina appraisers may put them in direct violation(non-compliance) of North Carolina Law in regards to signatures and State Seal requirements.

the issue is that the State Seal must be a certain size. The AI conversion changes the size of the signature to something much much smaller along with the size of the seal.

The only way I can solve the problem is to use ONLY the PDF option of AIport delivery.

I am so sick of this company. They are interfering with North Carolina Commerce by getting in between appraisers and the Lending clients who operate in my state.

There level of arrogance is beyond the breaking point for me. I have had it!

They must FIX IT or get out of the way.

The solution is now down to informing the lenders of the problem and finding them a suitable substitution in the form of a FNC competitor!!

Bottom line is they are not indispensable.

FNC, You can and will be replaced!

Aye, matey.....and yet another fine southern pirate! A glass of rum to ye this fine LABOR DAY!!!! Most excellent shot to load the cannon with, methinks!

You bring up interesting points, Carney.....so much for "no changes are being made to the reports". I wonder how white the lenders would go if the feds all of a sudden started demanding to see appraisal reports in their files and comparing them to what the appraisers submitted? Wonder what would happen if the secondary market buyers of those same appraisals asked the same thing?? The buybacks could be massive..............wonder if they think the port is still such a grand idea????

FACT: The lenders are responsible for the reports. Ready.............aim................FIRE!!!!!!!

 

[Workbox]

I am betting after the elections, that the investigations will go into full force and the public will demand answers.

 

[Elliott]

So appraisers are concerned that AI Ready will 'change' their report, then that
report will be the subject of a complaint. So the appraiser will then send
his report and workfile to the state. He will also, probably, say to the state,
"Give me your .env Url so I can send the AI Ready version of the report."

The number of AI Ready reports that will be 'complained' against will be
very few, because AI Ready appraisers are more likely to be 'get along'
appraisers in the first place.

 

[JRS at OBX]

Arrrrghhh!!!

 

[Bearslide]

Arrrrghhh!!!

Ye be a fearsome looking pirate, matey.........I LIKE it!

 

[Bearslide]

I am betting after the elections, that the investigations will go into full force and the public will demand answers.

And it is high time they did. It is TIME for the feds to start taking a real close look into lenders files. Not just singling out the port here (although she is fine target at which to fire)...but I would rather imagine there are a HUGE number of "converted" reports sitting in lenders files. We KNOW some AMC's are converting - and I suspect MANY are doing so without the appraisers knowledge.

I have often stated that if the LENDER wants to convert AFTER they have my report in their hands, feel free. But for ANYONE to do it BEFORE it gets to the lender leaves the door wide open for abuse.

 

[Bearslide]

A Clarification.

This was discussed on the other thread, but for those who may have missed it.......

The Pirates to whom we refer are the GOOD Pirates of the Caribbean. The East India Trading Company brutally dominated that part of the world. You sailed THEIR ships - or none at all. You carried THEIR goods - or none at all. You were paid THEIR wages - or none at all. The pirates fought not for the freedom to loot, plunder and steal - but to free themselves of the oppressive rule of the EITC.

Our Pirates are the same breed - we fight for the good ship Public Trust. We fight for an end to the looting of our appraisals. We fight for the right to produce the goods with the software of our choice, in the format of our choice. We fight to ensure that the end user is receiving OUR reports.

The rum to which we refer is the brew of truth....and I raise it high to the many who have taken a stand and boarded our ship. She is sailing fast and clean and more ships are on the way.

To those unsure whether or not to join the crew, I ask you........are you a Pirate? Will you take your ship back? What WILL you die for?? Tis Labor Day, mateys........the fight for the fruit of OUR labor is WORTH the battle.

HOIST THE COLORS AND FLY THEM PROUDLY!!!!!!

http://www.youtube.com/watch?v=vdEqiHBP-g4&feature=related