Who "owns" The "appraisal Report"?

[Eli]

I too have seen such comments in reports. On Fannie Mae forms, such comments are not allowable because they conflict with the pre-printed certifications.

I know. I had to take it out on VA reports, but just because I take it out don't mean much as far as what is legal or what is not in some regards.

The person who shared it is a VA appraiser too so I am sure he had to take it out too on VA reports.

 

[Meandering]

I see a lot of commercial reports that are copyrighted. So if I copyright the report, how can they claim ownership without I surrender the copyright?

If they own the report,

You have no right to it.

They own it, they can change it.

But it has your signature on it, because YOU are the owner and responsible for it's contents.

If they change it with your signature on it, it's fraud.


They can own it, if they sign the certification.


.

 

[CANative]

Baloney.

 

[DWiley]

I see a lot of commercial reports that are copyrighted. So if I copyright the report, how can they claim ownership without I surrender the copyright?

I read part of a book on my flight today. That book has a copyright. Even though the author retains the rights to the content, I own my copy of that book. That does not mean I own the copyrights.

 

[DWiley]

I know. I had to take it out on VA reports, but just because I take it out don't mean much as far as what is legal or what is not in some regards.

The person who shared it is a VA appraiser too so I am sure he had to take it out too on VA reports.

The Fannie Mae certifications contain explicit language about using the data in the report.

If we find such comments in a report we require them to be removed, and we require the appraiser to agree not to include such statements in any future reports. Language that contradicts the pre-printed certifications can be used by Fannie Mae as the basis for a repurchase claim.

If an appraiser feels very strongly about such language, then the appraiser can opt to not accept Fannie work. An appraiser who accepts a Fannie assignment is agreeing to conform to the rules that apply to Fannie assignments.

 

[djd09]

They will own it when times are good, but when affordable housing gig gives in again, blame the bad appraisers.

 

[residentialguy]

I too have seen such comments in reports. On Fannie Mae forms, such comments are not allowable because they conflict with the pre-printed certifications.

Then they would have to reject the appraisal. If they accept the appraisal, then it is allowed.

 

[Eli]

I too have seen such comments in reports. On Fannie Mae forms, such comments are not allowable because they conflict with the pre-printed certifications.

I know. I had to take it out on VA reports, but just because I take it out don't mean much as far as what is legal or what is not.

The Fannie Mae certifications contain explicit language about using the data in the report.

If we find such comments in a report we require them to be removed, and we require the appraiser to agree not to include such statements in any future reports. Language that contradicts the pre-printed certifications can be used by Fannie Mae as the basis for a repurchase claim.

If an appraiser feels very strongly about such language, then the appraiser can opt to not accept Fannie work. An appraiser who accepts a Fannie assignment is agreeing to conform to the rules that apply to Fannie assignments.

I wish you were so articulate on the Sherman Antitrust Act. I understand.

 

[DWiley]

Then they would have to reject the appraisal. If they accept the appraisal, then it is allowed.

Whether a lender catches such comments has no effect on whether such practice is allowable for Fannie Mae work. If you drive 15 miles over the posted speed limit, you are still speeding - even if you don't get caught

 

[djd09]

The banks/fannie should be proud to own those 200 hatchet appraisals.