Lender want my MLS sheets!

[The Dog]

Send the public MLS data sheets

I have two sheets, 1) for me with all of the data, and 2) to be included in the report for the public with redacted data provided by the local MLS board for public use.

Eliminates the copyright problem and makes the lender happy.

 

[Lloyd Bonafide]

Maybe the lender is using a reviewer that doesn't have MLS access for your area. If so, they need to use a different review appraiser.

 

[David Garza]

When ever I get the request for the MLS data sheets, I tell them about the MLS copyright and if I get caught giving out the information to non MLS members that I can be fined, but if they are willing to pay the $100+ fine per page....I'll send a invoice over and they can send a check to cover the total and I'll send the data sheets. Never hear back from again.

David

 

[Lee Lansford]

The unanswered question is "why can't you provide them with the MLS data sheets that are made available to the public?"

 

[Marcia Langley]

I thought the only public MLS sheets were the active listings. Am I wrong?

 

[George W Dodd]

Marcia,

It depends on your local MLS provider. Our system generates two levels of MLS printouts, one for members and the other for public use. Major difference appears to be agent comments and confidential info.
I don't know about other MLS systems but the data in my local system is a laugh, as agents through everything into "living area," get the closing prices and dates wrong, etc...

 

[Baldwin]

Our MLS doesn't have a version for the public, or I'm not aware of it. I've been a member of this board for 20 years now and I've never heard of it. I still think it's an odd request given I've reported all the data THEY need in the report, don't they believe us? or do we have to proove beyond a reasonable doubt all the information in our reports?
Thanks all!!
Bob

 

[Don Clark]

Not your problem

The only time a client has to have access to your work file, or it's contents which MLS sheets are, is when it is a restricted use appraisal report and the report cannot be understood without access. But, USPAP says access, not possession of the work file or any of it's contents.

FAQ #161, page 97, 2005 FAQ's addresses the issue as does SR 2-2(c)(xi)

If your MLS prohibits giving copies of MLS information to a non member I would advise to not give that information to them. Besides, that is not part of the process you were hired for.

 

[Brad Ellis]

Baldwin,

This is actually a pretty normal request. If it is not prohibited by board rules- and it is not prohibited by most boards since they usually have a "public" version available, then send them. If it fully prohibited (like in Las Vegas), then you should politely refuse and cite the reason.

Alan M.- no these are not being used in AVMs.

I got a retrospective field review in the other day. We require that if you agree with value then you must provide at least one truly comparable sale that supports the prior value. In many markets this is not problem. So, what do I get- 3 sales supporting value. However, I had over 100 sales (can never be sure they are truly comparable) that showed 30% less was the norm. So, I asked for MLS printouts.

The appraisal said marketing times were under 90 days. Reviewer agreed. When I looked at the MLS printouts I find that all 3 sales he gave us were on the market for over a year before selling. Hot market, too.

My advice: if you are asked and this is not prohibited and you told the truth, why worry? Give it to them and get on with your life.

Brad

 

[Herire Ghazanian]

Whether the requested MLS data is public or not i just don't understand why would a lender disturb a loan process for not having access to that data source used in the report and blame the appraiser for it.

The only thing i can think of is that if maybe the closed sales price indicated for the comp in question differs from what the lender has in his data source. Sometimes the agents do not mark the accurate closed sales price or closing date in the MLS.