Hybrid

[Meandering]

What is a Drive-by Appraisal?
That there by TSI - now AMROCK

02/20/2018
Title agencies targeted in fraud scheme
Posted by Amrock

Where there’s money, there’s always a fraudster trying to place hands on it. One of the latest schemes involves scammers sending fraudulent wire instructions to title agencies and others, in the hopes of being on the receiving end of money.


Title agencies among those targeted for fraud
During a real estate closing, there are quite a few moving parts. There’s a great deal of paperwork to be dealt with, and a number of financial accounts and situations need to be coordinated. With all of this, and with the rise of technology in the real estate transaction closing process, it’s not surprising that some scammers are trying to move in.


Amrock ordered to pay $706 million for stealing trade secrets from HouseCanary
Texas jury rules that Quicken Loans affiliate misappropriated HouseCanary data
March 15, 2018


Yup, honesty is rampant on the AMC side of the fence.

Go ahead and tell us what those photos are worth, but make sure you checked their meta data know if it's been stripped and you're not using 10 year old photos.

Oh my, why did all photos have to be original and not from the MLS, when the GSEs allowed MLS photos???

Maybe some with find out, in a couple of years - 'cause these things don't blow up until sufficient profits are made, then, oh, we'll get around to the prosecution part.


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[Artemis Fowl]

View attachment 35754

KK I'm only on page 16 but...
Nowhere on that order do I see a purpose or intended use. How can I determine a proper scope of work? The sample?...no thanks.

No reference to type of value either...

Browsing the subsequent posts to get here I think some assumptions were made by both sides. That order as presented is not something I would accept...and I tend to agree with George's side of the argument.

 

[Meandering]

KK I'm only on page 16 but...
Nowhere on that order do I see a purpose or intended use. How can I determine a proper scope of work? The sample?...no thanks.

No reference to type of value either...

Browsing the subsequent posts to get here I think some assumptions were made by both sides. That order as presented is not something I would accept...and I tend to agree with George's side of the argument.

Oh come on,
How can you bid an appropriate fee is ypu don't know the intended use of the report?

How do you know if the agent taking the photos is the listing agent, or the seller, or the buyer, or the buyer's agent, or the home owner, and might have an interest in the property, especially if the agent is the buyer or the agent of the buyer, or the manager of the lending branch???????????

 

[Mr Rex]

How do you know the existence as we know it is not a hologram created by alien insects from outer space for their amusement?

 

[Meandering]

How do you know the existence as we know it is not a hologram created by alien insects from outer space for their amusement?

Yeah,

We've never seen that one.

Apply for a refinance after the house burned down.

Yup - they're creative.

The one I really like is the mortgage fraud one concerning occupancy and is that the owner or the tenant letting the agent in for photos?????

Wasn't occupancy a major issue a few years back?


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[djd09]

Mozilo is going to miss a party.

 

[Terrel L. Shields]

The bifurcated appraisal interior inspection (including the photos) are not provided by the lender, but by third party inspectors

What liability do they have? Do they sign the appraisal? Then they are not "third party" but hired guns for the lender. produce or push off.

 

[djd09]

Maybe the appraiser will need to acquire the 'third' party inspectors E&O insurance. Just in case.

 

[djd09]

There are two principal USPAP compliance issues with these HA’s:

1. the person acting as the ‘field inspector’ is actually performing Appraisal Practice as defined by USPAP. Some may dispute that statement. But without the field inspector’s inspection data, no actual Appraisal can be completed by the Appraiser – because the appraiser is not engaged as the ‘field inspector.’ It’s my guess that the majority of ‘field inspectors’ ARE NOT licensed appraisers. As such, an Appraiser who allows some unidentified person to perform Appraisal Practice in the preparation of a report is in violation of USPAP. (I know about an appraiser who had to forfeit his license back to the state for this very reason.)
2. Having someone besides the licensed appraiser contribute Significant Appraisal Assistance, without identifying that individual in the report, is also a USPAP violation charged back to the appraiser who signed the report. Significant Appraisal Assistance is discussed in FAQ #248 in USPAP 2016-17. INSPECTING the subject property IS considered to be an action that provides Significant Appraisal Assistance.

Don’t let the salespeople and others promoting these HA products try to persuade you otherwise… just because you can do these in your bathrobe, bunny slippers, in your basement for $50-$75 a pop.

http://appraisersblogs.com/subject-inspection-4-hybrid-appraisals

 

[djd09]

https://www.pcvmurcor.com/pcv-murco...isals-how-do-they-work-and-what-are-the-risks

Looks like REVAA and AI do play with each other.