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PCV Murcor request: would you comply?

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ockyappraiser

Senior Member
Joined
Sep 26, 2002
Professional Status
Certified Residential Appraiser
State
Kentucky
In completing an REO report for PCV Mucor I noticed that they require full MLS single page printouts on each sale used and each listing. Further, they require I run a CMA Report and attach it as part of the appraisal report.

I have asked our state board before about CMA reports. Their position is that if an appraiser does the report, as an appraiser, it is an appraisal. All condition apply.

Would that not be a second appraisal contained within an appraiasal?

I have never had this request in over 3000 appraisal assignments. I also do not, as a policy, provide MLS documentation as I have had this request only one other time. It was from a lender that did not want to spend the money for MLS data themselves.

What would you do?
 

kimcha

Sophomore Member
Joined
Feb 12, 2002
Professional Status
Certified General Appraiser
State
Utah
I had this same request from someone. I sent them a note telling them it was, and is, our local MLS policy that I not give anyone copies of the raw data sheets. I also told them I don't even know what a CMA is, or how to produce one, as that is something a realtor does.
I didn't get any flack back from them, so I guess it was acceptable.
 

Mike Phillips

Senior Member
Joined
Dec 16, 2004
Professional Status
Certified Residential Appraiser
State
Florida
Comply? Absolutely not.

MLS listings are confidential - period. You could give them a "non-member printout" if your board allows. Furthermore, a CMA is a subset of an appraisal. A CMA should be done as part of every appraisal. But I'll not provide a formal CMA. It could be copied/detached, and communicated to another entity as a stand-alone document.

All appraisers are going to have to take a stand at some point, sooner or later.
 

jtinmichigan

Member
Joined
Feb 7, 2008
Professional Status
Certified Residential Appraiser
State
Michigan
Non member printouts are o.k. with my MLS, I have no problem with that as it does not violate my boards rules. As far as a CMA, I agree with Mike that it is a subset (i.e. the Sales Comparison Approach) of an appraisal.

You could of course do the CMA with the exact same comps as your Sales Comparison, that'd be a hoot!!! Of course noting in it that it is performed as part of the Appraisal and Report, dated________________ for___client________for________intended use____ and may not be taken or used out of that context......blah, blah, blah.............

But really, do you want that hassle? I wouldn't. Take a stand now, or take the stand later.............
 
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444nutman

Senior Member
Joined
Jun 20, 2007
Professional Status
Certified Residential Appraiser
State
Florida
I had that request once and it is against my MLS's rules. I copied and pasted the bylaws and sent it to them. There response is you are the only appraiser that will not do it. I asked for the names of the ones that do, so I can report them. They did not give me the names or anymore work. No loss!
Tell them the CMA is an extra $300. They will drop that request in a hurry.
 

Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
PCV/Murcor is an AMC, and I doubt that they would have requested this on their own.
It's probably a new Citibank requirement, since Citi is the lion's share of their business.
 

kimcha

Sophomore Member
Joined
Feb 12, 2002
Professional Status
Certified General Appraiser
State
Utah
Maybe they are looking for raw data for their AVM database. You know the one that someone in India is putting together for them? (Just speculation here on my part.)
 

Dan/Fla

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
NO--No way
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
All of our MLS's have a "customer printout" feature. I'd have no problem giving them that, as that's what it was designed for.
 

ockyappraiser

Senior Member
Joined
Sep 26, 2002
Professional Status
Certified Residential Appraiser
State
Kentucky
"All of our MLS's have a "customer printout" feature. I'd have no problem giving them that, as that's what it was designed for."

Part of the problem here is the definition of "customer". Our realtor board requires membership to access the MLS and restricts the reports to member, buyers and sellers. Third parties such as lenders are supposed to subscribe if they want MLS data.

I think that if you ask any MLS board they would tell you that the info is not intended to give to lenders to save them the fee of joining and getting it themselves.
 
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