Comments on: Comps Exchange Data Base

By: bubba jay

bubba jay — Sat, 31 Jan 2015 04:11:24 +0000

i got a revision request today that basically said, “your adjustments are different than your peer and model adjustments. please comment.”

are you kidding me? comment on WHAT?

if i am reading this correctly, i am suppose to comment on my adjustments being compared to someone elses adjustments, but i cant be told or see anything about those other adjustments that i am being compared to? are the peer adjustments higher or lower than mine? the peers i am being compared to – are they trainees, or have they been doing it a long time? do the peers i am being compared to know what they are doing?

in a nutshell – i am being expected to comment on things now that nobody can be told anything about?

and this somehow makes sense to ANYONE?

By: Heidi Heasley Ford on Facebook

Heidi Heasley Ford on Facebook — Wed, 21 Jan 2015 12:53:27 +0000

This is fantastic and forward thinking by Ala Mode. Additionally, it will put pressure on FNMA to release the data to the appraisers.

By: Baggins

Baggins — Tue, 20 Jan 2015 19:22:57 +0000

I’m still waiting on Fannie to provide a visual reference chart for UAD quality and condition ratings. A hundred thousand appraisal careers on the line, and Fannie apparently cannot provide a simple few page document illustrating visually, where the differences in UAD ratings should land. How much did they spend on UCDP, and how many man hours did that take? Why won’t they provide a visual illustration document to help appraisers? Alamode, could you please engage Fannie to allow your company to create this visual illustration document so they could adopt it as their own or something along those lines? We need visual reference much like the M&S cost book provides. UCDP is a multi million dollar government tech project with billions of points of considerable data and an entire staff of workers. Not one picture reference to help appraisers.

I have never exported or imported a comp personally. If appraising becomes fully automated, human appraisers won’t be needed. My exports would read like this: Similar2subject. Inferior. Superior. BestMatch. LargerDeck. SSremodK, Dlux imprvmnts, etc, etc. If more appraisers utilized a manual comparative method, there would be no data to export anyways. My opinion is that comp data should be filled to contrast the subject, not as a fixed point of exchangeable data. While staring down the barrel of UCDP, I’d probably rather have a CompsXChange, than not have one though. Fannie is acting like an internet leecher. They take all the data, and don’t share any back.

By: Mike Ford

Mike Ford — Sun, 18 Jan 2015 21:25:29 +0000

Dave, I LIKE the idea! As far as RA’s concerns about MLS lawsuits I simply don’t believe they are well founded. What I report on a sales comparison grid is a combination of MY opinion and publicly available verified facts. My consideration of mls data or NDC or RealQuest or a brokers opinions does not make MY conclusions their work product. This is especially true where the same data is available from multiple sources (listing broker/ agent; selling broker/agent, buyer, neighbors, open house flyers, my own prior inspection, etc.).

RA is right about the hyperbole though. Your proposal goes a long way to assuring we have comp data but it does nothing to address the current fad favoring regression analysis for adjustment amounts. Then again, it does not need to.

Of more concern to me is that the sales being used have open market transaction verification. But that’s still MY job even when you give me the lead on a possible comp.

Go for it! Mike Ford, (714) 366 9404

By: Retired Appraiser

Retired Appraiser — Sat, 17 Jan 2015 01:09:36 +0000

A la mode marketing at it’s finest.

In one sentence you claim: “You’ll have the same data that’s being used to judge you.” That’s quite a claim if you are implying that the amount of data available to appraisers is identical to the FNMA database mined from appraisers since 2009. You are also implying that every appraisal sent to lenders since 2009 went through a la mode (not even close). You have a fine product & service (I used it extensively) but let’s not go overboard with the claims here Mr. Biggers or jump the gun before you think through the legal implications for your company.

If you truly intend to share ALL of the appraisal data sent through your system you can look forward to lawsuits from MLS owners across the country. They will come out of the woodwork to lay claim to owning the original data.