AMEN, And USPAP compliance is enforced against against appraisers not lenders or agents

ACI, originally created by RIchard Heyn is First American. A former affiliate of CoreLogic. They were forced to split off when CL acquired DataQuick. First American seeks to control ALL other aspects of the real estate transaction from listing to loan servicing. They created their own entry into the phony hybrid/alt-appraisal market. It was called PACE PRO.

Hmmm Best guess is it is related to their purported current annual revenue in excess of $1.5 Billion and desire for more. MUCH more.

CoreLogic promotes their own zillow-trulia-realtordotcom-like AVM. FNMA and FHFA routinely cite their erroneous analyses (re low or high appraisals percentages). The data aggregator has become a self proclaimed data analyzer.

FNMA has received somewhere in excess of 30 million appraisals over the past 7 or 8 years. IF CL could monopolize all those assignments and charge $250 each (PLUS upload fees of $65 each) thats $315 x 30 million. Say $9.45 BILLION in new and expanded revenue. This doesn’t count all their other spin offs. Earning an ADDITIONAL Billion plus per year is a pretty strong motivator to wipe out a profession and promote the myth that big data is somehow better

That’s despite the FACT that every appraisal alternative huckster that has ever attempted to replace appraisals with their garbage has failed. Look at ZAIO. Look at Clarocity’s stock price (I know, same company). Point is NO ONE-not FNMA or anyone else has developed a credible AVM that stands up to objective scrutiny.

Need an email contact.

Please send to either myself mike@mfford.com or janbellas@appraisersguild.org…put interested in potential class action suit

Definitely interested. Thank you.

This is the new, oldest trick in the book. Tell the appraiser it’s uspap compliant!

It is the appraisers sole responsibility to make sure their work product is ethically compliant. A form by itself is never uspap compliant, because it is the appraisers actions and adherence to ethical standards which creates ethical compliance. Without individual licensing there is no individual accountability, welcome to appraisal. They will do and say anything without consequence. It is solely our responsibility to form acceptable assignment conditions.

Like, read the 170 comments and you’ll learn quite a bit.

http://appraisersblogs.com/corelogic-acquisition-appraisers-ditch-a-la-mode

I present to you the Corelogic Comps Store, faq page.

Looks like a pay per request Realist service, but also…

Corelogic Store FAQ

Attached image.

“Where does Corelogic get property data from?”

#7: & Other proprietary sources…

99% coverage, impressive…

I’m in! However, I have speculated before that the mirrored content or non unique content seen repeatedly through appraisal reports is due to the plagiarism by data typing companies, and the blissfully unaware appraisers whom use those services. Do the appraisers really think their ‘data typing service’ brings anything different than the other 1000 or more a day reports they’re ‘typing up’? See addenda. Not much to steal…

Simple light software has its own benefits and upside.

If an advanced technology is available, the user is most likely not truly in control of that anyways.

What’s a user opt in or opt out checkbox to a massive data conglomerate? Nothing really, just a checkbox to make the user feel good. Time and time again the whitehats and knowledgeable tech focused groups have discovered checking those boxes does nothing except keep such data transmission in the background so the user is simply not directly aware of the outbound packet activity.

Diane N. here on AB speaks highly of it. I didn’t get far enough into it to really have a good idea. I’m VERY IMPRESSED by the software owner’s direct support.

Its so painfully obvious they are trying to f ck all of us.

Only a matter of time before our ENTIRE reports are stolen, copied and pasted.

Biggers WILL rot in hell someday.

I was looking into homeputer …..thank god my service with alamode will be ending in a few days

Yes please! Is there any recommendations which program is similar and as easy as Ala Mode? I wish to switch myself because that is the only way this stuff (being polite) is going to stop.

I contract to perform appraisals for specific clients for specific purposes and uses. Nothing else. My BASE fee has been $450 for years until this past year when I increased it to $550 (FNMA, non complex, full appraisal reported on form 1004).

ANY other service costs more money. IF I were to knowingly contract with the client to allow the ADDITIONAL use of them or their agents using any, all or portions of my competed professional appraisal work product as reported in the form, I would double the fee since it is now being used for two unrelated business purposes.

Additionally, I would never allow my data to be used for or by a service that specifically uses to create, modify or enhance products designed to compete with my professional services to the detriment of my business and profession. THAT is something that the Fifth Circuit Court of Appeals identified when they found that CoreLogics subsidiary FNC STOLE appraisers data after promising them data security.

FNC stole data. We now know FNMA also stole data. Alamode is delving into individuals own personal databases in order to even offer (unsolicited) “the best’ (their words) comparable data available. Even competitors of CoreLogics REALAVM such as Clarocity (of ZAIO infamy) claim to have data bases with ‘millions of appraisers data’ including adjustments for certain items. Between Corelogic and First American virtually ALL MANDATORY upload systems for submitting loans to GSEs such as FNMA; or FHA and VA are owned by monopolies that cannot be side stepped and which have the ability via xml or env formats to data mine appraisers confidential work products in order to steal data they have not paid for.

Worse, they charge appraisers an upload fee for the privilege of having their data stolen within these mandatory systems (Mercury and appraisalport).

Instead of wasting time with the State of Louisiana, FTC should be investigating Corelogic and First American!

I believe there is a potential $10B to $13+ billion class action suit here if one assesses a normal full fee for each report involuntarily stolen and used by CoreLogic / FNC; FNMA, First American and/or Mercury for the past seven plus years. Not long ago FHFA cited over 30 million appraisals in the FNMA database where less than half were unique or solo appraisals.

30M x $450 each = $13.5B. It would be fun to be able to subpoena ALL the players upload statistics to get the true number of stolen appraisals.

Interested parties can start letting me know by email. I will forward your contact information to janbellas@appraisersguild.org. Jan will maintain the list of interested parties. As soon as we have enough people for a meaningful class action suit the attorney(s) will be retained.

There are roughly 40,000 appraisers that do (or did) appraisal work for FNMA. It was likely higher when these thefts first started. That doesn’t even consider possible thefts of data from appraisals intended for HUD, VA or even Freddie Mac.

Additionally, the borrowers that paid fees for all those millions of appraisals intended ONLY for their own loan purposes, may also have claims. Some of those poor folks paid upwards of $750 for what they were TOLD were just appraisal ‘costs’.

This might be a good added topic for discussion at Appraisalfest, at the start of November.

Risks:  cyber-security, privacy, cost of data, regulatory changes and no accountability. Housing seems less a supply and demand factor as we once knew and becoming more a product of the banking system each and every day.