Appraisers Need Not Apply -- Article on Waivers

[Mejappz]

It looks like CoreLogic/FNC is catching on they may be in truoble.

A comprehensive data and interactive toolkit for appraisers, Data Express combines public record and real estate sales data with the gold standard of collateral—the appraisal itself, providing non-confidential physical characteristics of the subject property.​

Fueling Data Express is the National Collateral Database, FNC’s unrivaled property information database. The NCD, national successor to the California Market Data Cooperative, is a research site which combines appraisal data, public record, and real estate sales information into the most current, comprehensive property database in the nation.

Use Data Express to easily access NCD information and use the data and AI Ready to automatically complete your appraisal forms. You can also retrieve up to five years or more of a property’s transaction history, download images into your reports, use extensive search filters, and generate, save, and print subject property and sales comp reports.

Data Express lets you:

• Select from appraisal and public record data for subject and comparable properties
• Include location maps and plat maps
• Add sales transfer and transaction history for subject and comparables
• Download or auto-populate subject and comparable data and maps into appraisal forms using AI Ready

Appraisers who use Data Express decrease their turn-times and increase their work capacity. Plus, they know the values they deliver and the data they use is backed by the gold standard of real estate data—the National Collateral Database.

No one else in the industry delivers a data source backed by real-time appraisal data. Public record and real estate sales information simply aren’t enough on their own. FNC’s National Collateral Database blends those elements together for more accurate, timely valuation data than ever before.

Note: FNC uses only that appraisal information for which it has received the appropriate permission to do so.

 

[DWiley]

It looks like CoreLogic/FNC is catching on they may be in truoble.

A comprehensive data and interactive toolkit for appraisers, Data Express combines public record and real estate sales data with the gold standard of collateral—the appraisal itself, providing non-confidential physical characteristics of the subject property.​

Fueling Data Express is the National Collateral Database, FNC’s unrivaled property information database. The NCD, national successor to the California Market Data Cooperative, is a research site which combines appraisal data, public record, and real estate sales information into the most current, comprehensive property database in the nation.

Use Data Express to easily access NCD information and use the data and AI Ready to automatically complete your appraisal forms. You can also retrieve up to five years or more of a property’s transaction history, download images into your reports, use extensive search filters, and generate, save, and print subject property and sales comp reports.

Data Express lets you:

• Select from appraisal and public record data for subject and comparable properties
• Include location maps and plat maps
• Add sales transfer and transaction history for subject and comparables
• Download or auto-populate subject and comparable data and maps into appraisal forms using AI Ready

Appraisers who use Data Express decrease their turn-times and increase their work capacity. Plus, they know the values they deliver and the data they use is backed by the gold standard of real estate data—the National Collateral Database.

No one else in the industry delivers a data source backed by real-time appraisal data. Public record and real estate sales information simply aren’t enough on their own. FNC’s National Collateral Database blends those elements together for more accurate, timely valuation data than ever before.

Note: FNC uses only that appraisal information for which it has received the appropriate permission to do so.

Nothing new in that. They have been writing/saying that for over 20 years.

 

[Mejappz]

Nothing new in that. They have been writing/saying that for over 20 years.

The problem is they don’t get permission. Either you upload the report through their portal and have the data extracted, or you, as an appraiser, are out of work. That is called extortion.

Do you think the lenders who agree to have the reports uploaded through AI are not paid handsomely? The entire system is a scam that would even make Al Capone blush.

 

[djd09]

they will come like thieves in the night.

maybe a foia is needed to see behind the curtain of the great and powerful borg. there is a reason they do not let you look. and it ain't got nothing to do with adjustments.

secrets in a free and open society are repugnant. jfk

 

[DWiley]

The problem is they don’t get permission. Either you upload the report through their portal and have the data extracted, or you, as an appraiser, are out of work. That is called extortion.

Do you think the lenders who agree to have the reports uploaded through AI are not paid handsomely? The entire system is a scam that would even make Al Capone blush.

Lots of inaccuracy in the above. They do get permission. And, no one is forced to use any portal - that is a business decision for each appraiser.

Heck, no one even forces residential appraisers to do lender work - that is just the easiest route. When I had my firm I personally did very little lender work. The non-lender work paid much better, but wasn't as easy to get.

 

[djd09]

why didn't they waive that indiana appraisal?

and why aren't these antidiscrimination advocates questioning that?

 

[Mejappz]

Lots of inaccuracy in the above. They do get permission. And, no one is forced to use any portal - that is a business decision for each appraiser.

Heck, no one even forces residential appraisers to do lender work - that is just the easiest route. When I had my firm I personally did very little lender work. The non-lender work paid much better, but wasn't as easy to get.

There is no inaccuracy in the above statement. If you want to work for a lender who uses the AI-ready portal, you play the game(which means surrendering your data). Not doing so would eliminate about 30-40% of an appraiser's clientele.

Not playing the GSE game well that will put you out of business altogether. Tell me why CoreLogic feels compelled to add a statement that they only use data with the appraiser's permission? After all, if there is nothing wrong with what they are doing, why make such a statement.

 

[DWiley]

Tell me why CoreLogic feels compelled to add a statement that they only use data with the appraiser's permission? After all, if there is nothing wrong with what they are doing, why make such a statement.

Because of the topic of another active thread - many appraisers do not read what they sign. So, they sign statements acknowledging that it is OK for data in their reports to go to data collection companies, but they still come to sites like this and complain about "their" data being "stolen." You know anyone who would do that?

The GSE reports contained a cert granting permission for the data to be sent to data collection companies long before FNC even existed. And, doing GSE work is a choice - always has been. Many choose not to do GSE work, including some (according to their posts) in this thread. Some choose to do GSE work, but then want to complain about all that entails.

 

[djd09]

Appraisal Waivers are Great Too​

Appraisal waivers allow buyers to skip the appraisal. Buyers and sellers both might like this other type of waiver. An appraisal waiver stamps a lender accepted value on the subject property sans appraisal. Also, appraisal waivers don’t only remove the need for an appraisal, they omit the time, cost and hassle of an appraisal. Finally, no appraisal means no appraiser required repairs. All of the above clear up the pathway to closing. Seller enjoy clear pathways.

Appraisal Contingency vs. Appraisal Waiver | HOUSE Team

Appraisal waivers and appraisal contingency waivers are 2 different but effective tools homebuyers use to streamline the buying process. Learn about both.

arizonasmortgagetalk.com

that is right, the scum bag mortgage broker estimates market value, yep, the same ones they separated the appraisers from due to their crookedness.

 

[djd09]

how's that work, they need 330,000 and the broker insets 330,000 batter up boy