Lender Requesting Copies of MLS Sheets.

[Carnivore]

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

If they dont trust you then why are you working for them?

 

[Mary Tiernan]

Perhaps the OP is referring to the unacceptable condition element of USPAP?

Your client is not required to comply with USPAP - only you as a licensed appraiser are - at least that's how it works in my state.

My MLS has also stated it is acceptable to provide MLS print-outs for my clients.

I have noticed in the past when an order requests MLS printouts, they also state if they are not available due to MLS restrictions, to state this in the report.

 

[NC Appraising]

Perhaps the OP is referring to the unacceptable condition element of USPAP?

Your client is not required to comply with USPAP - only you as a licensed appraiser are - at least that's how it works in my state.

My MLS has also stated it is acceptable to provide MLS print-outs for my clients.

I have noticed in the past when an order requests MLS printouts, they also state if they are not available due to MLS restrictions, to state this in the report.

I was thinking more in terms of the "ethics" violation. Although I'm not for any appraiser to be disciplined over including MLS sheets. Appraisers are in a tight sopt right now, and it's hard for a appraiser right now. Appraisers do need to stand up and say enough is enough tho. There hs to be a stopping point to this madness.

Save that for the Skippie's, runners, appraisers coming from other market areas with no competence, juicers, and "volume-churn and burn" appraisers, etc.

 

[Mike Garrett RAA]

Interesting thread. I would refuse any assignment that required me to include the MLS printouts. Why? Because I don't believe it's necessary. LSI has asked for MLS sheets, public records, and HUD 1. Guess that's why LSI is not one of my favorite clients.

How many of you who are complaining about copyrighted information use or copy pages of maps? I think this is widely abused too.

 

[Howard Bouchard]

What happened to providing a Summary Appraisal Report with certifications? What is being asked for here is for the appraiser to chew his cabbage twice and provide a bread crumb trail of how the “loaf was baked”.
If the client has any questions about the accuracy or veracity of any report they have recourse by using a peer review from an appraiser who is familiar with the market and type of assignment under scrutiny. It’s called a review and it cost money; however in light of all the issue in today’s real estate market, it might be an idea worth pursuit.

But alas, they would have to pay for that!

All this business about providing all the MLS search data that would normally only be included into a self contained report is just rope to hang you with later.

Bottom line: What is being indicated here is that our appraisals are not trusted, even though the ongoing decline in residential real estate markets had little to do with valuations. More appraisal review would go a long way towards improving our profession while at the same time providing further the verifications desired for those reports thought to require that additional scrutiny.

 

[CANative]

If they dont trust you then why are you working for them?

Who said I worked for them?

 

[Mile High Trout]

The topic of this thread just goes to show you:

The large banking parties who are pushing this agenda apparently operates without fear of consequences.

The system is broken if we, on the ground floor level are the ones to consider weather this widely applied approach is acceptable or not. One may assume that weather it is or is not acceptable, nothing will come of it. Were the penalty for infringement be applied to the ground level person, why would it not be also applied to the lender who insisted on those inclusions? Or perhaps the lender has performed a cost effective analysis and determined that the benefits of infringement supersede the costs of penalties, and they are unconcerned with the penalties the workers may suffer.

Per other poster from another thread: If it's unacceptable practice, it should stop at the desk of the lender.

 

[Fritz in NY]

Please pay my MLS dues if you want printouts. I will NEVER send them the complete listing info.
In most of the MLS systems I belong to there are several options of what you can print and hand out. I'll send the least info and let them complain, I keep the MLS phome numbers handy to have the cubical creatures call for themselves.

 

[Tim Hicks (Texas)]

Silly rabbits, there is only one reason any lender or AMC would need copies of MLS sheets. It is a simple lack of trust on their part. They would like us to furnish our data to them so they can check our work, critique our work, minimize their review costs, question our comparable sales selection and build their data bases. If they don't trust us to do our jobs properly, why are they using us and why are we accepting work for them under these conditions? Personally, I am quite tired of the worthless, meaningless questions from these companies without providing them more ammo to provide more worthless meaningless questions about my data.

WE are the appraisers. WE select the comparable sales WE feel are most similar. WE process and dissect the data to provide OUR opinion of value. It is not THEIR opinion of value, it is OURS.

I will not provide these idiots more to ammunition for more ridiculous questions, stipulations and value steering.

Yesterday, Streelinks said the lender was asking for two listings from the immediate area on an appraisal I completed last month. I already had two listings in the report. Both listings were within a half mile and required no living area or age adjustments. In other words, they required minimal adjustments. They stated they needed two more listings. I told them NO, there would be no more listings that could possibly be more relevant. I am the appraiser and I will not tolerate frivolous stips.

 

[NORTON]

Silly rabbits, there is only one reason any lender or AMC would need copies of MLS sheets. It is a simple lack of trust on their part. They would like us to furnish our data to them so they can check our work, critique our work, minimize their review costs, question our comparable sales selection and build their data bases. If they don't trust us to do our jobs properly, why are they using us and why are we accepting work for them under these conditions? Personally, I am quite tired of the worthless, meaningless questions from these companies without providing them more ammo to provide more worthless meaningless questions about my data.

WE are the appraisers. WE select the comparable sales WE feel are most similar. WE process and dissect the data to provide OUR opinion of value. It is not THEIR opinion of value, it is OURS.

I will not provide these idiots more to ammunition for more ridiculous questions, stipulations and value steering.

Yesterday, Streelinks said the lender was asking for two listings from the immediate area on an appraisal I completed last month. I already had two listings in the report. Both listings were within a half mile and required no living area or age adjustments. In other words, they required minimal adjustments. They stated they needed two more listings. I told them NO, there would be no more listings that could possibly be more relevant. I am the appraiser and I will not tolerate frivolous stips.

that's what it's all about, or ability to determine what is relevant, or not vs their ability to demand fluff and worthless data which requires our time.