Fannie Mae now reconsiders AI Ready

[DWiley]

Just because there really isn't a truly secured pdf doesn't mean that the sender has given 'implied' permission to data mine the information for other purposes. At least not in my book.

What does your "book" say about someone providing written permission for an action. Most consider that "explicit" permission rather than "implied" permission.

It is not the file format that grants permission to data mine, it is the appraiser's signature under Certification 21. Anyone who does not want to agree is free not to sign such statements.

I think Mr. Biggers post to you in the other thread was nothing short of magnificent.

I liked it as well, but probably for different reasons than you

 

[TJSum]

What does your "book" say about someone providing written permission for an action. Most consider that "explicit" permission rather than "implied" permission.

It is not the file format that grants permission to data mine, it is the appraiser's signature under Certification 21. Anyone who does not want to agree is free not to sign such statements.



I liked it as well, but probably for different reasons than you

Really, "free not to sign", might as well get fitted for that blue vest at WalMart...

 

[TN Pro]

Why would USPAP, Fanne, et. al. ever require the use of an insecure format like PDF?

I know many appraisers think "locked" PDFs are secure, but they are not. Google "PDF Cracker" and see how many programs there are to open password protected PDF files.

Better yet, send me a password protected PDF file and I will show you first hand how "secure" it is.

We already did this a few years ago. I believe Doug Bingham and myself cracked a secure pdf file in less than ten minutes

 

[DWiley]

Really, "free not to sign", might as well get fitted for that blue vest at WalMart...

Yes, really. If some appraisers put as much effort into seeking out non-lender work as they put into complaining about lender work they could discover a whole new world.

They might also discover fees in the $150 to $300 per hour range. Is that what Wally World is paying now?

 

[Carnivore]

We already did this a few years ago. I believe Doug Bingham and myself cracked a secure pdf file in less than ten minutes

Cracking is easy, not leaving fingerprints is the hard part!

Prima Facia evidence! I believe that is what DannyW has been saying with the $600 dollar per scription Adobe signature. You can get in alright, ya just cant hide it.

 

[Wyoming]

I don't know much about AI Ready but have been trying to get caught up. Today I recieved an email from the Appraisal Institute writing about how technology is changing our profession. One of things they mention about AI Ready is how it allows appraisers to control their data. It is also mentioned in a link from that email how appraisalport does not mine our data. However, it does not say anything about the end user mining the data from our reports. Even if Appraisalport is not mining the data, is it still possible for the end user to do this? Has the Appraisal Institute provided a format in AI Ready that makes it easier for AVM's and the like to harvest our data? Do we really somehow control our data as they claim? If so, I am on board. If not, I should reconsidered my AI associate membership. I would feel sick about giving money to an organization that is trying to put me out of business.

 

[Pamela Crowley (Florida)]

Additional info for you Matt (and others):

http://www.mortgagefraudwatchlist.org/docs/FNC Complaint.pdf

http://appraisersforum.com/showthread.php?t=139727

http://appraisersforum.com/showthread.php?t=126687&highlight=puzzle

http://www.mortgagefraudwatchlist.org/docs/Crowley - Hrg 6.28.07 Transcript.pdf
(I think starting on page 43 of this will give you some answers.)

I realize this is a lot of reading, but much of it is very worthwhile.

Personally, I'm calling that AI letter of yesterday, "attempted damage control".

 

[TJSum]

Yes, really. If some appraisers put as much effort into seeking out non-lender work as they put into complaining about lender work they could discover a whole new world.

They might also discover fees in the $150 to $300 per hour range. Is that what Wally World is paying now?

We just have a different definition of FREE. My definition would mean that it would not affect the appraiser's status regarding this type of work.

 

[Workbox]

MATT, FNC has a contract for the lenders to share data with them. Then later to share it with other lenders or appraisers that subscribe to FNC. Also, if you go to Google Patents and type in Appraisal Institute and find all the documentation of how the AI Ready works, it might give you an insight on how it is really structured for. Have you read the FNC lawsuit?

 

[Workbox]

We just have a different definition of FREE. My definition would mean that it would not affect the appraiser's status regarding this type of work.

If we are free not to sign it, will they still accept our reports? after all he posted it.