Virgina REAB and Portal Petition

[Workbox]

And many companies don't tell us the truth of what they are really doing either.

 

[Bearslide]

DWiley;1646082]It only snuck by those not reading what they were signing. A statement about distrubution of reports to data companies has been part of the Fannie Mae forms since at least 1993. Of course, many posts in this forum demonstrate clearly that not everyone reads what they sign.

I think it is more a case of many did not understand exactly what "data companies" meant. But again - we digress - this is not for the VA Board to decide.

Yes, one can QC a report in PDF format, but only after converting it to some other format. One can also climb the stairs to the top of most skyscrapers. Does that prove that the elevators are not needed?

If true, that is fine - lenders can convert away all day long to their furry little hearts content. Once I have sent the report, and can prove that what I created is what I sent, what they do with it as far as conversions is up to them. By forcing appraisers to take part in the conversion process, they ensnare appraisers with whatever is done after the fact. That is really the heart of the matter.

Having stairs negates the NECESSITY of having elevators. Nice to have, but not necessary to reach the top. And in the case of fire, elevators become useless - just as conversion programs are useless to the appraisers forced to use them.

 

[McPheeters]

I think it is more a case of many did not understand exactly what "data companies" meant. But again - we digress - this is not for the VA Board to decide.





If true, that is fine - lenders can convert away all day long to their furry little hearts content. Once I have sent the report, and can prove that what I created is what I sent, what they do with it as far as conversions is up to them. By forcing appraisers to take part in the conversion process, they ensnare appraisers with whatever is done after the fact. That is really the heart of the matter.

Having stairs negates the NECESSITY of having elevators. Nice to have, but not necessary to reach the top. And in the case of fire, elevators become useless - just as conversion programs are useless to the appraisers forced to use them.

Well said!

 

[Pamela Crowley (Florida)]

The issue becomes WHO is going to be responsible for the alterations being made to the appraisal reports being delivered to the lenders. FNC has already, and very recently, made it perfectly clear that they intend to make the appraiser 100% responsible for whatever changes are made, whether the appraiser can ever actually ever have a copy of EXACTLY what was delivered to the appraiser's client or not. Then, we have all the other AMCs that are playing this 'conversion' game with or without the appraiser's knowledge and/or consent.

Righting a long time wrong is not the wrong thing to do!

 

[DWiley]

By forcing appraisers to take part in the conversion process, they ensnare appraisers with whatever is done after the fact. That is really the heart of the matter.

Are you sure you want to put forth that philosophy? By that logic the orignal appraiser is responsible for the many PDFs that have been altered, because it was the appraiser who converted the report to PDF.

 

[Bearslide]

DWiley;1646157]Are you sure you want to put forth that philosophy? By that logic the orignal appraiser is responsible for the many PDFs that have been altered, because it was the appraiser who converted the report to PDF

The appraiser is responsible for what they created and sent - as long as they can prove what they sent. You know - true copy? We are all still waiting to see an AIReady report AS RECEIVED BY THE CLIENT. No one has managed to pony one up. Appraisers get ignored when they ask for it. Many borrowers are not receiving copies of the appraisal done on their property. Reports to be reviewed are incomplete. Wonder why that is?

All questions to be asked in VA. This has been a spirited and interesting discussion. Time to go pack and get the car ready for the trip. Regards to all!

 

[woodyva]

By forcing appraisers to limit their ability to communicate in a contemporary manner, it creates a misleading report. Violation of the ethics rules, plain and simple. I have several USPAP instructors that have agreed with that assessment.

 

[George Hatch]

You apparently have several who disagree with that assessment, too.

 

[Fred]

By forcing appraisers to limit their ability to communicate in a contemporary manner, it creates a misleading report.

And who said the orignal format of check boxes etc., is a "contemporary manner" of communcation. In fact, didn't the ASB declare cert 23 misleading?

 

[George W Dodd]

It's a simple question really, is the true copy the work product of the Appraiser, or is it the converted report the Appraiser is forced to send?
But before you answer, what is the definition of a "true copy" and who ultimately must determine what the contents of the "true copy" must be.
But before you answer, who does the Appraiser have the ultimate duty to, the client or the Public Trust?
But before you answer, is the appraisal only the conclusion or does the presentation of the information with its logical reasoning that develop the conclusion constitute the report?

This is not about what the client can do after they receive the appraisal report. As long as it's legal they can dice the report into as many sections as they desire and use the data any legally permissible way they want.

But the Appraiser can not and should not be required to convert the report prior to sending the report to the client.

The bottom line is each of us is responsible, individually we are forced succumb to the "do it my way, or move on" philosophy. Together to can draw the line and say no.

The choice is yours.