Lender Requesting Copies of MLS Sheets.

[Blades]

Can,
I had asked our rules dept. if appraisers are allowed to use certain printouts, if any at all, in an appraisal report. When they responded that you can use ANY printout, I became more inquisitive about the agent copy.

 

[stangtime]

I just had a request come over asking for MLS sheets to be included with the appraisal. So I called my MLS to ask if it was okay. They said it was okay to give it to a lending institution with an appraisal for lending purposes. I asked her a couple of different ways and got the same response. She even verified it for me with a supervisor. I asked for a quick email or letter stating that it was okay. She said they don't do that but I could have the lender call them and she said they would say it was okay directly to a lender if I wished.

Seems clear to me. It's a pain, but not a violation.

Dan

 

[cnjourdan]

NOMAR says No

Louisiana has very liberal public record laws. About the only thing I can't pull down at the court house is the HUD1 (and only because no one files them).

I'm not sure what board you're with but another forum member claims NOMAR/GSREIN e-mailed him with an O.K.

Either way I agree with you about copyrighted data, but most systems do have a public "view" for fair use.

They are not interested in the "public view", that does not have original list price, sold price DOM, concessions, etc. they want the good stuff. This is for data mining. Yes we have a lot info at the courthouses in New Orleans area avaiable but not GLA, Room count, amenites etc. That is what they want and everyone wants to roll over and give it away. Just send them your check book and signature and then they can put you out of business quicker.

I am not sure who at NOMAR gave the appraiser you spoke to the OK on that. I spoke the head of MLS at NOMAR services and was told, in no uncertain terms, do not provided that info and if they catch appraisers doing it they will fine and if necessary sanction the appraiser. They asked for a copy of the request to forward to their attorney for review.

Maybe I am nuts, but when the provider tells you this copyrighted and providing this is a copyright infringement and don't do it. Then don't do it not try to find a way to break their rules and get away with it. Rather disappointed at the indicate lack of ethics I have read on this post. The many of posters have tried to find away to break the rules to keep a client making an illegal request happy. Just my opnion.m2:

 

[Surf Cat]

I don't know how it works with reviews however, I've been asked to include MLS sheets on the comparables I've used in reports by AMC's. I'm with post #37, they want self contained reports at summery prices. But then again...they want a 1004 with MC for drive by prices too.

self-contained appraisal report
a written appraisal report that contains all the information required by USPAP, with extensive detail. Contrast with restricted appraisal, summary appraisal.
Example: A self-contained appraisal report includes a high level of detail in the written report.

My MLS states I could include a list view (1 line stating address, price, DOM,) but not a detailed sheet. When I ask for an additional fee for the inclusion of the "list view" from the AMC I don't get the gig.

 

[Vetteman]

They said it was okay to give it to a lending institution with an appraisal for lending purposes. Dan

How about to an AMC or other third party that intends to mine the data and sell it to their other clients for a profit...all without having to pay MLS dues...did you ask them about that scenario?

 

[stangtime]

Vetteman - (love the avatar) - I explained to the compliance person at my MLS that I have an appraisal request for the MLS sheets within the appraisal. She said that is okay. I didn't say it was for a management company order. Your question is good; I will clarify on Monday regarding the AMC factor.

Dan

 

[CANative]

They want to see the listing sheets to make sure the appraiser isn't lying.

 

[TJSum]

Vetteman - (love the avatar) - I explained to the compliance person at my MLS that I have an appraisal request for the MLS sheets within the appraisal. She said that is okay. I didn't say it was for a management company order. Your question is good; I will clarify on Monday regarding the AMC factor.

Dan

With our MLS system, when you go to the print option, they have "customer versions" to print out, and they also offer "agent versions". It is my understanding the customer version is the one that is compliant with request like this while the agent version would be a violation. ??? When you clarify with them on Monday, you might want to ask about this as well. ???

 

[gbrown]

To those who feel it's ok to send printouts just wait until some reviewer tell you "please respond to MLS printout, you said the house has 3 bedroom and the printout says 4, please comment.

 

[Brian Weaver]

Thanks, I thought if the appraiser knowingly broke the law(copyright infringement) in the completion of an assignment it would be a USPAP violation under the Ethics Rule.

No. You'd be in violation of copyright law and the AMC would also be named as a third party beneficiary. Guess who has deeper pockets? I'm sure that your local MLS would love to tag the AMC for copyright infringement.