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Freddie: MLS Photo

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Non Sequitur

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I'm surprised this hasn't been mentioned in the AF, it's burning up Facebook:

http://www.freddiemac.com/singlefamily/guide/bulletins/pdf/bll1720.pdf

"Previously, copies of MLS photographs could be used for comparable sales only if the original photographs could not be obtained. Additionally, an explanation was required by the appraiser as to why MLS photographs were being used. To provide flexibility and create efficiency in the appraisal and underwriting processes, we are removing these requirements and now allow clear electronic images, including copies of MLS photographs, to be used for comparable sales without an explanation from the appraiser."

My bold.

Mass speculation about motivations, personally I'm not sure but if Fannie, FHA, etc. and lenders follow this may be big.
 

TRESinc

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now wait for the NAR to jump us for using copyright protected data and content...
 

A K

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It still doesn't change the requirement to view the comparable from the street. So I don't know how allowing MLS photos makes anything more efficient.
 

DWiley

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...if Fannie, FHA, etc. and lenders follow this may be big.

Fannie has long allowed it. Unless the certifications are changed, I don't see how this is "big." There is still the obligation to drive by the comps.
 

Terrel L. Shields

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Dumbing down profession is necessary to appease the banks who own the FED and government. A truly independent appraisal is opposite of what the PTB want and will get. Just another tidbit of evidence they will have when they "prove" that appraisals are valueless. Done in by our own laziness.
 

Non Sequitur

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Fannie has long allowed it. Unless the certifications are changed, I don't see how this is "big." There is still the obligation to drive by the comps.
Yes, Fannie had but the "without explanation" in writing and as a matter of policy is IMO big. Facebook is exploding with "this will save me so much time, we don't have to drive comps, etc." I know per certs we still have to drive comps but let's be adults for a minute: that ship will sail away if everyone puts "without explanation" in writing.
 

TRESinc

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They have but the "without explanation" in writing and as a matter of policy is IMO big. Facebook is exploding with "this will save me so much time, we don't have to drive comps, etc." I know per certs we still have to drive comps but let's be adults for a minute: that ship will sail away if everyone puts "without explanation" in writing.


my guess is that it will still be a client condition for orders similar to how all of mine still want an explanation if the 15%/25% adjustments are exceeded.
 

DWiley

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Yes, Fannie had but the "without explanation" in writing and as a matter of policy is IMO big. Facebook is exploding with "this will save me so much time, we don't have to drive comps, etc." I know per certs we still have to drive comps but let's be adults for a minute: that ship will sail away if everyone puts "without explanation" in writing.
If we are being adults, then let's acknowledge that is why so many clients have adopted an "original photos only" overlay. Some appraisers do not realize that when they post comments on social media like the one you cited about not having to drive the comps, they are just shooting their own foot.
 

Non Sequitur

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If we are being adults, then let's acknowledge that is why so many clients have adopted an "original photos only" overlay. Some appraisers do not realize that when they post comments on social media like the one you cited about not having to drive the comps, they are just shooting their own foot.
I agree, but how many appraisers give a crap?
 
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