Virgina REAB and Portal Petition

[woodyva]

Be craeful Paul You may be assigned to an ignore list

 

[McPheeters]

Be craeful Paul You may be assigned to an ignore list

One can only hope.......

 

[Roscoeman]

I wish I was on the ignore list...

Oh, I must be cause I have only been observing this comments and not responding to them.

What a relief

 

[Marcia Langley]

Digital signatures will not fix anything, period. If we can put it in, they can take it out.

Digital signatures would fix only what they were designed for. To prohibit or report access to a file between point B and point C. If a person's primary concern were regarding unauthorized access between point B and point C, it would be a good solution. Especially if it were the receiver at point C that needed to be reassured. And sometimes that is what is needed.

But most of the issues being discussed here are regarding events prior to point B and after point C.

And most of the issues being discussed here are not perceived as a problem by the recipients of the file. The recipients in question seem to not be concerned if the file was accessed in route.

 

[TJSum]

Digital signatures would fix only what they were designed for. To prohibit or report access to a file between point B and point C. If a person's primary concern were regarding unauthorized access between point B and point C, it would be a good solution. Especially if it were the receiver at point C that needed to be reassured. And sometimes that is what is needed.

But most of the issues being discussed here are regarding events prior to point B and after point C.

And most of the issues being discussed here are not perceived as a problem by the recipients of the file. The recipients in question seem to not be concerned if the file was accessed in route.

Those who care the most are point A (the appraiser) and point Z, the real end user who may be holding the loan when the music stops.

 

[McPheeters]

Digital signatures would fix only what they were designed for. To prohibit or report access to a file between point B and point C. If a person's primary concern were regarding unauthorized access between point B and point C, it would be a good solution. Especially if it were the receiver at point C that needed to be reassured. And sometimes that is what is needed.

But most of the issues being discussed here are regarding events prior to point B and after point C.

And most of the issues being discussed here are not perceived as a problem by the recipients of the file. The recipients in question seem to not be concerned if the file was accessed in route.[/quote]

I wonder if the recipients would care if they were regulated as appraisers are.....subject to the same laws and punishments for violations

 

[Chris Colston]

This discussion has gone on for quite awhile. I do not want to have to close it because some of you can't play nice together. Let's keep the personal insults and attacks out of the discussion. Stay on topic or some of you may find you won't be able to continue to participate in the thread.

 

[DWiley]

The recipients in question seem to not be concerned if the file was accessed in route.

I would not say they don't care. In fact, I think most care about report security very much. While some appraisers do not trust portals, lenders obviously do. Otherwise there wouldn't be so many reports submitted via portals.

Portals are businesses. One of the main things they sell is security. Anyone can verify this by looking at thier web sites. If it became publicly known that a portal was not secure, or that a portal really was tampering with reports in an unauthorized way, well that portal would have committed business suicide.

Most of what has been described is being done "in transit" is being done at the request of the recipient, and it is done by an entity that the recipient has a contractual relationship with. Those contracts are very specific about what may and may not be done to a file.

An appraiser once offered to show me proof that a report had been altered. The appraiser had a print out from a reviewer, and it was different from what was submitted. The original report was a PDF of a 1004 form. The lender had taken the original, electronically pulled out the property description and the sales comparison grid and sent it for a "preliminary review." There was no signature, but there was a field identifying the appraiser. Because of formatting the appearance was very different, though the data was not changed at all.

The original report still existed on the lender's computer, just as it was transmitted (a fact I was able to verify because I was acquainted with the company's chief appraiser), but only a portion was sent for review. The thing is, because this was done electronically, the appraiser was screaming (literally) that the report had been altered.

The appraiser admitted that if he had originally submitted a paper copy, and the reviewer had been sent a photocopy of the same parts of the report, the appraiser would not have been upset at all. Yet, the electronic equivalent generated a huge emotional response.

We live in a digital age, but we still LOVE our paper. :Emoticon_hug:

 

[woodyva]

I was on topic, but it seems I upset someone so i got a big ole sanction for defending my honor. Apparently folks can question my allegiance to my profession, but if I stand up for myself i am asked to be professional. I have been, and used langauge that was both direct and much cleaner than i would have in person. I will remove myself from the discussion. I thought being involved gave me a right to advoate and explain but obviously. Have fun ladies and gentleman

 

[Bearslide]

As I see it, there seem to be several issues here.

1. WHY does anyone NEED any format other than pdf? As pointed out in this thread, there are pdf readers available. If the need for speed and automatic underwriting is the goal, both alamode and ACI have readers. If the other software companies don't, I'm sure they can develop them.

OH - but the lenders don't want to pay for them? So the appraiser, who is paid the least in the whole lending process, should carry the burden of software acquisition?

2. As currently designed, AIReady does not allow the appraiser to comply with USPAP as far as record keeping and true copies. Why is that such a problem for AIReady supporters to acknowledge?

3. Let's see here..........skip and inflated values, ignored deficiencies, etc, is a problem.....so lets make appraisers use software than can add to the problem by allowing changes and alterations.

4. Datamining is not an issue? FNC and other portals are entitled to the data, to then turn around and sell to lenders, appraisers, etc at a profit? Has anyone considered this.....much of the data in those reports comes from various MLS systems, which appraisers must PAY to access and use the data. Most MLS systems and the Real Estate Associations controlling them state quite clearly that non-members are not entitled to that information. Oh - its public information? Guess again - not always. IE: our Association has an arrangement with the county assessment office. FULL information is available to paying members only - public information is quite a bit less detailed. The information I use to develop a report is through our MLS and therefore NOT public - and much of it is not available to the public. As I cannot give the information freely, and as FNC is not a paying member, they are, in effect, STEALING that data. I do believe our association might be very interested to know that THEIR data is being stolen. I wonder just how many other MLS providers would like to know that their proprietary data is being stolen and then resold at a profit?

5. I have NO problem delivering my reports to any portal a lender desires...I don't care if it is FNC, a lclient website, whatever. I don't even have a problem if they want to charge for that service - it simply gets added to my invoice. However, I DO care that the report being delivered is the report I created and not some cyber mumbo-jumbo. If lenders want that cyber mumbojumbo, have at it - convert their furry little hearts away - do it all day and all night, I don't care. It's their report - use it to make a loan, don't make a loan, line the birdcage, paper the kitchen - I DON'T CARE. Alter it? I have NO control over that report once it leaves my hands......alter, convert, do whatever - but leave ME out of it. Now why is that so hard to understand?

Ahhhh - I know - because if lenders convert it or alter it and do dastardly, fraudulent things with it and get caught......well, hey, they might just have to answer to someone for it. But if the APPRAISER puts it in a format allowing whatever changes are "necessary" first - EUREKA - no harm, no foul! We got our loan done and our hands are clean! That nasty appraiser converted it and altered it and we, us honest lenders who care only for quality and not our ill gotten bottom line....... why WE had nothing to do with it! I can hear the hallelujias in board rooms all over the country.

6. Speed - lenders want something universal to speed up the process. WHY? Is the borrower going to croak tonight? Is the house going to implode before you can write the loan on it? Nevermind it will add hours to the appraisers time to convert.

7. Security - as DWiley pointed out, and it has been discussed before - there are any number of signature security systems available. But HEY - that would be an imposition on the poor lenders - they would have to have the software to verify. Poor dears - we can't do anything that would cost THEM money or slow THEM down.

I personally would rather pay for enhanced digital security than pay for software that scrambles reports. And frankly, if all the players in the loan process were honest and above-board, even THAT woud be a non-issue.

Why is it, if these converted reports are so innocent and have not been altered to a clients advantage, that no one is willing to provide said reports to the appraiser requesting them? If there is nothing to hide, why is it being hidden?

Am I a bit cranky? Yes, I am. I just want to be left alone to complete my reports, to do an honest job, to put my reports in a clear and legible format, easy for the ultimate reader to follow and understand - and I want to do it in compliance with USPAP. Where are you, Mr Webbed? I think I shall come join you in the cranky corner ....................