Virgina REAB and Portal Petition

[PropertyEconomics]

Why is it that every appraiser I know of that has asked for - to demanded - a copy of their own appraisal report that the bank/lender/client has AFTER it was sent through one of these AMCs and/or Appraisal Port are never able to obtain a copy, and those that pushed for a copy received no more appraisal orders from that AMC and/or bank/lender/client???????

If you cannot get a true copy of what was delilvered to your client, is your workfile compliant with various States laws/rules/regulations?????

Are these altered appraisal reports sometimes delivered without any digital signatures???
sometimes 100s delivered without any signatures???
Do the lenders/clients have to notify the AMC, or whoever that 3rd party software company is, to match those altered appraisal reports back up with the appraiser's .jpg signature???

WHO has the database of all these appraiser's .jpg signatures to be able to match them back up and place them on all these altered appraisal reports?????

Pam ... Good Day by the way ... Perhaps the next time an appraiser appears before their state board regarding any appraisal they did for a bank, the Appraisal Board of that state could subpoena a copy of the report delivered to them. Might be a start since the appraiser cant get one.

 

[Don Clark]

Pam ... Good Day by the way ... Perhaps the next time an appraiser appears before their state board regarding any appraisal they did for a bank, the Appraisal Board of that state could subpoena a copy of the report delivered to them. Might be a start since the appraiser cant get one.

PE,

That's a good suggestion.I know of a current case where the report submitted to the board with a complaint was not only modified but a different comp was inserted into the report.

 

[Ken B]

So the appraiser should be responsible because someone else committed fraud?

 

[Smokey Bear]

So the appraiser should be responsible because someone else committed fraud?

If they know that there is a likelihood that their appraisal will be changed, yes. Playing innocent after you willingly did business with someone whom you knew would alter your report falls under the doctrine of "unclean hands". You got no defense if you knew or should have known, that makes you an accomplice.

 

[Pamela Crowley (Florida)]

So the appraiser should be responsible because someone else committed fraud?

FNC's attorney stated at our FREAB meeting that it's up to the appraiser to look over the conversion before they hit 'send' and that the appraiser is the one responsible for any changes the conversion makes.

FNC and AI Ready, and all the AMC and Lenders that use any type of conversion of the appraisal reports are throwing you all under the bus for using what they DEMAND of you.

Now, FNC and AI Ready are stating that this is all being done because the Lenders DEMAND it, so they are throwing the lenders under the bus also.

BTW, you all know that "AI Ready" is 'trademark pending' by the Appraisal Institute... ? and, that FNC's attorney was 'defending' the AI Ready use...
Things that makes one go, "Hmmmmmm".....

How many times do you all need to be slapped across the face before you stand up for yourself and say, "NO MORE!" ?????

 

[Pamela Crowley (Florida)]

If they know that there is a likelihood that their appraisal will be changed, yes. Playing innocent after you willingly did business with someone whom you knew would alter your report falls under the doctrine of "unclean hands". You got no defense if you knew or should have known, that makes you an accomplice.

Everybody should read this one again.

 

[Ken B]

FNC's attorney stated at our FREAB meeting that it's up to the appraiser to look over the conversion before they hit 'send' and that the appraiser is the one responsible for any changes the conversion makes.

FNC and AI Ready, and all the AMC and Lenders that use any type of conversion of the appraisal reports are throwing you all under the bus for using what they DEMAND of you.

Now, FNC and AI Ready are stating that this is all being done because the Lenders DEMAND it, so they are throwing the lenders under the bus also.

BTW, you all know that "AI Ready" is 'trademark pending' by the Appraisal Institute... ? and, that FNC's attorney was 'defending' the AI Ready use...
Things that makes one go, "Hmmmmmm".....

How many times do you all need to be slapped across the face before you stand up for yourself and say, "NO MORE!" ?????

No more what?

 

[DWiley]

If the appraiser is expected to keep a true copy in his workfile, yet HIS uploading of the appraisal report knowing it's being converted into something not exactly the true copy he has, NOR CAN HE access a copy of the converted file for his workfile, why is that not a USPAP violation?

It would not be a USPAP violation because the appraiser is not responsible (nor should he/she want to be) for changes made by the client. Here is the Q&A where the ASB said that.

http://www.appraisalfoundation.org/s_appraisal/bin.asp?CID=12&DID=1097&DOC=FILE.PDF

Further, the requirement is to have a true copy what what you sent. There is no requirement to have a true copy of changes made by someone else.

Also, for the umpteenth time, conversion into AIReady happens prior to, not during, transmission. The AIReady file is readily available on the appraiser's computer, just as a PDF or native file would be.

 

[Ken B]

AI Ready is not the only program which converts appraisal software specific files into an industry standard format which can be used by other software platforms. Why all the concern about AI Ready and not the others?

How about "No more politics and smokescreens!"

Yeah, I'm for that.

 

[DWiley]

FNC's attorney stated at our FREAB meeting that it's up to the appraiser to look over the conversion before they hit 'send' and that the appraiser is the one responsible for any changes the conversion makes.

What exactly is wrong with a statement that appraisers should look at what they are sending before they send it? It sounds more like sound business practice than a slap on the face to me.