Virgina REAB and Portal Petition

[DWiley]

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 think we are now into double digits with this generic claim about misleading. However, no one has yet been able to provide a specific example of how conversion into AIReady leads to a report that is misleading to the intended user. If it is so "plain and simple" why is it no one can/will provide and example?

 

[DWiley]

FNC has already, and very recently, made it perfectly clear that they intend to make the appraiser 100% responsible for whatever changes are made

FNC has said that the appraiser converts the report into AIReady - which is simply the truth.

It is you who have claimed that this means FNC will put the appraiser on the hook for all changes. That may seem clear to you, but it sound like pure conjecture to me. Can you cite any place they have actually said that?

 

[Workbox]

I think we are now into double digits with this generic claim about misleading. However, no one has yet been able to provide a specific example of how conversion into AIReady leads to a report that is misleading to the intended user. If it is so "plain and simple" why is it no one can/will provide and example?

And no example from either of what the cleint actually gets, it's only been DW Stamped only.

 

[Bill_FL]

In what format is the AI ready report delivered to the intended user? Is it in some kind of printed or pdf format? Or is it simply an electronic transmission of data to populate the user's computer system?

If it is simply some kind of printed or pdf report, why not simply send it to the appraiser and the user with a requirement that the appraiser confirm that this is the correct report?

 

[DWiley]

And no example from either of what the cleint actually gets...

If no one has seen one, what is the basis for the claim that it is inherently misleading? Are you admitting that it is just conjecture?

Unlike others, who seem to have taken as gospel truth the claim that lenders will not provide copies back to the appraiser, I have put that claim to the test. I have had clients send me copies of my own reports - reports that were submitted in AIReady. What I got back was a true and complete copy of what I sent.

Several have claimed clients will not do this, but I got one back within a few minutes of asking for it. How many can say they have actually had clients refuse to do this, and how many are just piggybacking on claims and war stories posted by people who admit they don't even use AIReady?

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

Statements like this lead to my fear of unintended consequences.

Let's immediately prohibit requiring conversion of reports into a format the client wants!! Of course such a regulation would make it a violation for a client to require reports in PDF format, but that's just tough. Before anyone re-posts the silly claim that a PDF file is not a conversion, I suggest reading Adobe's own web site.

 

[Carnivore]

This is a good read about the conversion process. It is very current so someone is paying attention. It does answer some questions.

I suggest that you link this web site in your reports. Basically it puts clients on notice that changes take place and they are agreeing to it.

http://aiready.com/convpdf/aipdfdetails.pdf

If they call and complain or want changes you can point this out and charge them extra!

 

[woodyva]

I think we are now into double digits with this generic claim about misleading. However, no one has yet been able to provide a specific example of how conversion into AIReady leads to a report that is misleading to the intended user. If it is so "plain and simple" why is it no one can/will provide and example?

Danny:

It does not need to be shown to you, you already know it. Letter of transmittal will not convert, table of contents does not convert, both of these forms can add information to a report that makes it easier to understand. They simply should not be omitted. If the TOC is not important, then why does the AI addenda have a spot for the number of pages that makes this report a true copy?

The PDF arguement is so old at this point I hate bringing it up, but FNC does have within it;s June 2008 ltter that the client receives a PDF copy of the conversion. If the Client refceives a PDF anyway, then why all the postering and BS that is going along into this arguement? They send out a PDF, why can't we?

 

[Carnivore]

Danny:


The PDF arguement is so old at this point I hate bringing it up, but FNC does have within it;s June 2008 ltter that the client receives a PDF copy of the conversion. If the Client refceives a PDF anyway, then why all the postering and BS that is going along into this arguement? They send out a PDF, why can't we?

This is actually a good argument for us sending both.

We do the conversion, it then allows the ineffective rule checking software to do its thing(IMO its a failure anyway just look at the # of foreclosures) and also send our PDF for the clients visual use. Brilliant!

 

[woodyva]

This is actually a good argument for us sending both.

We do the conversion, it then allows the ineffective rule checking software to do its thing(IMO its a failure anyway just look at the # of foreclosures) and also send our PDF for the clients visual use. Brilliant!

I agree, but I still think it should rest in the client's decision to or not to send this to a third party. They can convert it at that point. That would follow the FNMA certs a little closer.

there must be a reason they do not want to convert it. I have no clue what that is, nor am I implying anything. I just don't see why it's so important to make me convert it, when they can.

 

[DWiley]

Letter of transmittal will not convert, table of contents does not convert, both of these forms can add information to a report that makes it easier to understand.

If lacking a letter of transmittal and TOC makes a report misleading then tens of thousands of appraisers are in deep trouble. These items might make a report easier to read, but how does not including them render a report misleading?

Those in the "misleading camp" can ignore me all they want. However, state boards and courts must operate using evidence, not emotion.