Virgina REAB and Portal Petition

[Ken B]

Andrew,

The State Real Estate Appraisal Boards cannot regulate lenders or portals. There may be other State agencies that have that authority, but the REABs do not.

 

[Carnivore]

I donth think of this the same way you do. I see my state legislature being body which creates the laws my appraisal board will follow and enforce.

Interesting note about my state is we are very pro-consumer here. NC is not the friendliess place to do business if you like to cheat, lie and steal from people.

 

[Workbox]

Brilliant Woodyva!

 

[woodyva]

You don't have to read many of the posts here to see what lengths some are willing to go to. I think at least five times now someone has claimed that use of AIReady somehows violates policies of Fannie Mae. This depsite the fact that Fannie Mae actually requires it use in some assignments. Forgive me if choose to I trust Fannie Mae's interpretation of their own rules.

Danny:

I am not totally oppossed to your post, again I respect your opinion. I think it is rather ironic that within one day of an article going up on the scoop, FNMA let go of the requirements to only use AiReady formatting for normal lending work. They do still require for REO, but I don't think REO assignments are as important to the overall economy as the natural market.

Walk with me on this for a second, afterall we are all here to contribute and learn: We all know an entity as large as FNMA has different sections/departments within it. Is it possible that one or two people like the idea of portals, or perhaps they like the surface of the concept, and someone might possibly make a decision for the company that is seen as indiotic if the whole process is truly reviewed tip to tail. We also know that the only reason they signed on to the HVCC in the first place is becaus ethey have no interest in being audited. If they get investigated executives will be flying out of windows on their on accord. You may be right, but that is one group of masterminds has yet to prove they know the rear end of horse from it's ear.

 

[woodyva]

Moreso in an intrastate transaction, much less so in a federal transaction.

Does not matter what kind of transaction. The REAB regulates the licensed appraisers, if it enacts a policy the licensees have to abide by it until it is either lifted or repealed.

 

[woodyva]

And what if the refusal is from the other end? What if you learned that Fannie Mae temporarily stopped requiring AIReady for certain assignments because of the poor AIReady support provided by Alamode?

When you soon see announcements that

(1) Fannie is going back to its prior position and
(2) Alamode has enhanced its AIReady conversion capablity

know that it is not a coincidence

I have no idea what either can or can not do, but I can make an extraordinary assumption:

AIReady has a set list of forms that will be accepted, I would assume it is them that do not see the need to to allow more forms to be used.

If it the software companies that are at fault, then shame on them. I do not have a vested interest in a la mode, but at this point if I had to pick one party over the other, I would trust Dave Biggers.

 

[Fred]

Does not matter what kind of transaction. The REAB regulates the licensed appraisers, if it enacts a policy the licensees have to abide by it until it is either lifted or repealed.

Exactly. It's kind of like the traffic cops who beat Rodney King, or Mike Nifong. It worked for a while.

 

[woodyva]

Exactly. It's kind of like the traffic cops who beat Rodney King, or Mike Nifong. It worked for a while.

Wow, that is appropriate.

 

[Fred]

Wow, that is appropriate.

And accurate.

 

[woodyva]

And accurate.

I am sure you you can do better than comparing this to a rape case or racial case. Of course that would be asking for an actual adult answer. Never mind, it's just as easy to ignore you two.