Hybrid

[djd09]

CU was most likely the smartest thing FNMA did considering technology. Appraisers were using so many different terms in their reports that no one could interpret them the same way. Average +, Average -, good, inferior, bad, poor,...........................

Oh no the sky was falling. appraisers were acting independently. Do you know what independent means?

 

[djd09]

I was one of the people who worked on creating the UAD (djd can thank me later)

Secret data mining results is repugnant. JFK

 

[Eli]

Fortunately (and at least in California) the courts have ruled, using an argument that you've advocated from what I recall since I first joined the forum, that the client and stated intended users have privity, and the others (despite that they are identified as being entities who can rely upon the report... but for a very limited purpose) have no claim against an appraiser.

Settled law.

This Louisiana complaint will open some doors and close some others before it’s over imho. It may further divide states on their protocol or it could force federal changes as well. I’m sure there are other States’ activities that could have similar impacts.

 

[Doug in NC]

But I'd more likely leave the profession. Hard to make a real living $100 at a time. Too many other ways to make 6 figures these days than to sit at a desk and pump these POS out the door all day long.

What a coincidence Chad, I'm looking for a way to make 6 figures outside the appraisal industry and am open to ideas. What were you thinking?

 

[ucbruin]

Last one, but cannot resist...

You know our friend, UCbruin?
When he posts, you can bet a controversy is brewing
Believe it or not
(and despite the onslaught)
His appraisal career has not yet been ruined!​

Denis you are really creative and a renaissance man!!!
Thanks for the fun (and YOUR restraint)!!!

 

[timd354]

Secret data mining results is repugnant. JFK

There is nothing secret about it....the GSE's do not deny that they are using the data from your appraisals. If you don't like that, then the solution is very simple...don't do GSE related appraisals.

 

[Eli]

Denis you are really creative and a renaissance man!!!
Thanks for the fun (and YOUR restraint)!!!

Denis is like a little teddy bear. Errrrbody loves Denis!

 

[DWiley]

Secret data mining results is repugnant. JFK

Secret data mining? You are a funny one, DJD. The fact that the data in a Fannie Mae form may be sent to a data collection service has been part of the Fannie forms for literally decades now. So, it would only be a "secret" to an appraiser who was not aware of the content of the certification that he/she was signing.

As for CU specifically, Fannie has very open about what they are doing with report data via CU. There have been numerous publications and public statements. There sure are a lot of threads on this forum about something that you allege is "secret."

 

[Eli]

Secret data mining? You are a funny one, DJD. The fact that the data in a Fannie Mae form may be sent to a data collection service has been part of the Fannie forms for literally decades now. So, it would only be a "secret" to an appraiser who was not aware of the content of the certification that he/she was signing.

As for CU specifically, Fannie has very open about what they are doing with report data via CU. There have been numerous publications and public statements. There sure are a lot of threads on this forum about something that you allege is "secret."

There are many secrets aren’t there? Ask Louisiana and the FTC?

 

[Meandering]

Federal Court Declares FHFA Structure Unconstitutional
According to a Washington Examiner report, a three-judge panel for the U.S. Court of Appeals for the Fifth Circuit ruled that the FHFA structure ran afoul of the Constitution because it did not answer to the president and its director could not be removed by the president except for cause. “We hold that Congress insulated the FHFA to the point where the Executive Branch cannot control the FHFA or hold it accountable,” the judges wrote in an unsigned opinion.

The FHFA was created in 2008 in response to the collapse of the government-sponsored enterprises. The judges ruled that the law related to the FHFA’s duties must be changed to allow for the president to remove the director at will.

The ruling came in response to a lawsuit brought by shareholders in Freddie Mac and Fannie Mae who claimed that were cheated in 2012 when the Treasury took all of the two companies’ profits rather than just a 10 percent dividend. The court ruled 2-1 against that part of the lawsuit

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT ...

III A.
HERA grants FHFA certain authority as the Companies’
conservator, and it imposes certain limitations on review
of FHFA’s actions. As relevant here, it explicitly limits
judicial review of claims that would hamper FHFA’s
conduct as a conservator: “[N]o court may take any action
to restrain or affect the exercise of powers or functions of
[FHFA] as a conservator or a receiver.”
12 U.S.C. § 4617(f)

. Our court has not previously construed this
particular limitation, but this anti-injunction language is
not new. Courts have interpreted nearly identical statutory
language—found in the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (“FIRREA”),
12U.S.C. § 1821(j)
—to bar claims for declaratory, injunctive, and other equitable relief against an agency
acting within its statutory authority as conservator. Courts have construed this language to “effect a sweeping ouster
of courts’ power to grant equitable remedies ....”
Freeman v. F.D.I.C. , 56 F.3d 1394, 1399 (D.C. Cir. 1995)
;
accord Courtney v. Halleran
, 485 F.3d 942, 948 (7th Cir. 2007) ; Hanson v. F.D.I.C., 113 F.3d 866, 871 (8th Cir. 1997)
.
The anti-injunction language in § 1821(j), however,
“shields only ‘the exercise of powers or functions’
Congress gave to the [agency]; the provision does not bar
injunctive relief when the [agency] has acted beyond, or
contrary to, its statutorily prescribed, constitutionally
permitted, powers or functions.”
Sharpe v. F.D.I.C., 126 F.3d 1147, 1155 (9th Cir. 1997)
(quoting Nat’l Trust for Historic Pres. v. F.D.I.C., 995 F.2d 238, 240 (D.C. Cir.),vacated,
5 F.3d 567 (D.C. Cir. 1993), reinstated in relevant part, 21 F.3d 469 (D.C. Cir. 1994));accord Bank of Am. Nat’l. ***’n v. Colonial Bank, 604 F.3d 1239, 1243 (11th Cir. 2010); Elmco Props., Inc. v. Second Nat’l Fed. Savings ***’n, 94 F.3d 914, 923 (4th Cir. 1996


Perhaps,
Appraiser groups should seek very good legal counsel concerning the taking of their data and the reselling it, in AVM form, in competition against them.



And MLS systems to, had to give up open Membership to the GSEs. Realtors and Appraisers might be due compensation.





Feudalism 2.0.

.