PCV Murcor request: would you comply?

[bart nathan]

all that extra work for 230.00 and appraisers are doing them.

Shell gas station price $4.43 a gallon in Sacramento.

 

[Amy Perkins]

Lenders do not typically join MLS and never have, they rely on the appraisers to give them that information. It is sad that it has gotten to the point where they no longer have faith in the profession.

 

[Amy Perkins]

Bart, 230 is the base, for a foreclosure charge an additional fee.

 

[ockyappraiser]

"Lenders do not typically join MLS and never have, they rely on the appraisers to give them that information. It is sad that it has gotten to the point where they no longer have faith in the profession."

This is not actually the case. Out of 3,500 appraisals this has come up only twice for me. I appraise in a metro area. Most lenders today order AVM's such as Corelojic to check appraisals with. The last one that required MLS printouts was trying to save the money on the AVM report.

I find today that they use AVM's and services such as Realtor.com.

Why would you provide another company with data that you paid for? For free?

 

[Amy Perkins]

Hmm, I thought Corelojic, was spelled with a g and they are county records, realtor.com only gives active listings not closed sales. Besides, I doubt that corelogic has MLS in SB as First Americon does not service our MLS. It costs a thousand dollars just to join my MLS, I truly doubt they pay for it.

 

[Kevin Mc]

No need for this thread to run for pages, the simple answer is no. If they want a CMA have they can contact a realtor. If they want MLS printouts, ditto.

 

[Brad Ellis]

Mark,

Unless your board prohibits this just what is the problem?

Most boards allow it- it just takes a pdf conversion- and is not time consuming. Also, I'd disagree with your state board that a CMA is an appraisal; unless you have to make decisions about what data to use (then- yes- an appraisal).

Some MLS systems make you choose and plug in the comps (an appraisal as it involves your judgement) while others automatically select them and it just becomes a machine output (not an appraisal - by you anyway).

I always require them for retrospective field reviews but am actually suprised this is now being asked of you for REO purposes. Perhaps they (the ultimate client- not Murcor) has other reasons. It could be just a matter of trust as one poster suggests but I think perhaps not. It could just be that they want the listing broker's comments and contact info so they can call and find out just what repairs are needed on the comp.

I used to work for Murcor and am pretty sure they are not making this requirement up by themselves.

Brad

 

[PropertyEconomics]

Mark,

Unless your board prohibits this just what is the problem?

Most boards allow it- it just takes a pdf conversion- and is not time consuming. Also, I'd disagree with your state board that a CMA is an appraisal; unless you have to make decisions about what data to use (then- yes- an appraisal).

Some MLS systems make you choose and plug in the comps (an appraisal as it involves your judgement) while others automatically select them and it just becomes a machine output (not an appraisal - by you anyway).

I always require them for retrospective field reviews but am actually suprised this is now being asked of you for REO purposes. Perhaps they (the ultimate client- not Murcor) has other reasons. It could be just a matter of trust as one poster suggests but I think perhaps not. It could just be that they want the listing broker's comments and contact info so they can call and find out just what repairs are needed on the comp.

I used to work for Murcor and am pretty sure they are not making this requirement up by themselves.

Brad

Mr Ellis .. no matter your disagreement ... if that is the position of the posters state board then that is their position and it is a "regulation" the appraiser must comply with.
I can quite easily understand a board taking a position ... "If you are an appraiser, and you complete a CMA, it is an appraisal." Wearing two hats is often very difficult, particulary when one of the hats has the band which says that you cannot produce a misleading report nor can you mislead the public as to what it is you are doing. I personally think its a great stance by an appraisal board.

 

[Jan Roseberry]

This would create a misleading report in some geographic areas where only half the sold properties have Realtor involvement.

 

[Brad Ellis]

PE,

Mr Ellis .. no matter your disagreement ... if that is the position of the posters state board then that is their position and it is a "regulation" the appraiser must comply with.
I can quite easily understand a board taking a position ... "If you are an appraiser, and you complete a CMA, it is an appraisal." Wearing two hats is often very difficult, particulary when one of the hats has the band which says that you cannot produce a misleading report nor can you mislead the public as to what it is you are doing. I personally think its a great stance by an appraisal board.

Mark is not talking about the state board- he is talking about his realtor board. Some of those boards try to restrict the printouts- Las Vegas is one.

Never mind that legal precedent would blow that rule out of the water.

As to the CMA I am not aware of any state that deems them to be appraisals without appraiser judgement involved- i.e. just letting the computer run its stuff- but if there is one then obviously the state law will rule on that. And if judgement is involved then USPAP already deems it to be an appraisal and that is at least referenced in the state law already.

Frankly, what I see here is Mark's reluctance to provide MLS printouts. If he is sure he cannot do that by MLS board rules he should simply communicate that to Murcor. However, he also questions whether or not he has a right to charge for it- witness his question over whether or not it ought to be given away for free?

So, sorry but what I am seeing here is just another instance of someone wanting more money- and if that is the real issue then he has to make up his own mind as to whether or not he wishes to work for that firm under those requirements and for the fee offered. It is not being asked of him "for free"- it is being paid for via an overall appraisal fee- just like any other client/agent requirement within the SOW decision.

So, if he cannot do it due to board rules (MLS board) then he cannot do it- it is pretty simple. However, if he thinks he can do it but wants to charge more then it remains a fee issue- subject to any state law of course.

When I order these things in Vegas I sometimes get the printouts as many simply ignore such MLS board rules (not suggesting this) and others give me a synopsis of each of the listings. I do not ask for CMAs as I find them pretty useless overall.

Brad