Appraisal Port user agreement, now what?

[Tudor]

Here is what I'm finding in this area; many are signing the agreement cause they say they need the work & there is no ENFORCEMENT so why NOT take the chance that nothing will happen,. I'm betting many on this Forum have the same thought. & How do you respond to a 30 year old with wife & kids??? That feels keeping Appraisal Port will give him work. (he does reviews for both Fannie & Freedie) 40% of his work do far this year!! Or a single Mom that has been Certified for 2 years & trying to make it without government assistance??

I agree, virtually no enforcement or not as severe as it should be. But the enforcement they are talking about and what AP would hold them responsible for are 2 totally different things.

1 week of no appraisals going through AP could really send a message, everyone that uses AP should be able to hold off for a week, otherwise might as well buy some vaseline and grab your ankles. These companies have been shown that they can do anything they want to appraisers and appraisers gladly take it.

Their decision to sign that agreement could cost them more then they would lose by not signing.

 

[Flyfishnnut]

I HAVE decided NOT to sign it.
The problem is - even if your own report in your file and what you delivered are in essence the same, the contract specifies that we'll abide by arbitration in the instance of a legal issue, (Which will be held only in Mississippi) the same for the eventuality IF it goes to court. (Back to Mississippi.)
Now - IF you end up in court - and your E & O doesn't support your posiiton - you're going to be liable for a lot of costs - plus the chances are, your E & O will cancel you, THEN see what next year's E & O is going to cost. (About 300% more) even though you provided a good and accurate copy.) YOU get punished for their actions. It's not worth the liability - for a small guy like me, only one instance of this nature will put me "down and out".
So - I've told them to "shove it".

 

[Karl]

I agree, virtually no enforcement or not as severe as it should be. But the enforcement they are talking about and what AP would hold them responsible for are 2 totally different things.

1 week of no appraisals going through AP could really send a message, everyone that uses AP should be able to hold off for a week, otherwise might as well buy some vaseline and grab your ankles. These companies have been shown that they can do anything they want to appraisers and appraisers gladly take it.

Their decision to sign that agreement could cost them more then they would lose by not signing.

I agree!!! But the feeling many have is they'll cross that bridge when they come to it. Which basiclly means IF they are called in they'll just turn in their license at that time.

 

[Bearslide]

I agree!!! But the feeling many have is they'll cross that bridge when they come to it. Which basiclly means IF they are called in they'll just turn in their license at that time.

Along with their house, cars, and anything else of value. ONE lawsuit - just ONE - and you're done. The cost to defend, ESPECIALLY having to go to THEIR state, would break many. Thanks - but no thanks. There is NO client, no number of reports, worth the potential for loss by agreeing to that "hold harmless".

But hey - the port may be doing us a big favor. A couple of lawsuits here, a couple there - that's one way to thin the herd........

 

[Tudor]

I agree!!! But the feeling many have is they'll cross that bridge when they come to it. Which basiclly means IF they are called in they'll just turn in their license at that time.

The kicker is, AP may sue you for something that would only be a Level I Violation in the boards eyes, for all we know, the board might not even have issues over what your sued for. Those that you are talking too really need to see this clearly. Like Bear said, they could lose a lot more then just their license.

Striking/boycotting against this portal (AP) is so much easier then doing it to an AMC. The companies could still get their reports via PDF, and if they need it to close a loan and make a commission, I think they will send AP packing in a heart beat.

Hundreds have been making a stand, it is time for more to do the same.

 

[Dale Smalley]

Once again your complex problems can be solved with a simple solution.

ie. Attach the PDF as an attachment to the data file.

See now we can live happily ever after.

 

[jnordquist]

Well I think I just uploaded my last AppraisalPort file. REO at a decent fee, I'm going to call the client tommorrow and see if they will send them direct until AP realizes they are in the wrong (which may never happen)

 

[Workbox]

Folks, AP is not the only portal, it Seem that Ex-TransUnion has a similar function, and RIMS. As for RIMS, I was told the same for AP.........."You can get more work from future potential clients"........CARROT STICK! CARROT STICK!

 

[Flyfishnnut]

I have been refusing to "log-on" to AP ever since I first read the "new agreement" some months back. Landsafe used to supply about 50% or more of my business. I've had several 20 to 30 minute telephone conversations with the powers that be, without any resolution or solution. The bad part is, when you "sign on" to AP, the agreement "assumes" you're endorsing the agreement by virture of signing - on, somewhat like your use of software "assumes" you're accepting the liability of it's use. The bad part is not so much the AI-Ready software - but the constraints the users put into effect - they are the ones that say, "X" amount of photo pages, "X" amount of additional comments pages, "X" amount of scanned document pages. The software, like most has the ability to handle larger reports, it's the lender AND AP that's agreed to set the limits of the conversion.... I had sent the AP agreement to my E&O probably 6 or 7 months ago - they stated it was a, "business decision" for me - but they would not cover a "changed" report - it had to be identical to the report I have on my computer. (End of my participation with AP)
All I could do was try to find more business elsewhere - and, to some degree, I have - but my income now is substantially less than it was.

 

[Flyfishnnut]

There is another thought - that is, the AMC's are requiring we, "accept, inspect, and deliver" the reports under very tight constraints, they also require that we accept "their" version of what is considered a fair fee.
From what little I know - that sounds like we're being made employees .... someone should write IRS about these folks and all of their "list" of requirements. Wonder what sort of "fun" they would have answering all "those" questions - you know?