Tagged: confidentiality

Can an AMC Tell Appraisers How to Dress? 25

Can an AMC Tell Appraisers How to Dress?

I recently saw a Facebook post where an appraiser was quite upset and offended that an AMC asked him to dress professionally for an appraisal walkthrough. Now, this was a request that was made up front as one of the conditions for accepting the order. Reading the post, it sounded like this appraiser was upset for two reasons. One, he was offended that the AMC was implying that he does not take his job seriously enough or dress professionally enough. Two, he felt like the AMC did not have a right to tell him how to do his job (i.e....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Is SmartExchange a Problem & Resulting in USPAP Non-Compliance? 27

Is SmartExchange Not USPAP-Compliant?

Is Smartexchange Resulting in USPAP Non-Compliance? This blog is likely going to stir up controversy. It is likely going to have a few folks calling me a loyalist to a la mode, or other similar things. Am I a loyalist? I do not see myself as such, but a la mode has been the only software that I have used in my career for residential form reporting. I do use ACI in the corporate setting as a reviewer and manager in my firm. I like and consider many of the staff at a la mode to be my friends, and I have had long relationships...

a la mode / ACI / AI / Appraisal / Appraisal Institute / Appraisal News

USPAP Confidentiality Questions... Can Using a Contractor Be a Violation? 7

USPAP & Questions on Confidentiality

How can using such a contractor not be a violation? In the context of a real estate appraisal, especially a residential real estate appraisal for a lender thru an AMC, what is confidential? First, look at USPAP’s definition of confidential information (lines 105 – 108 in the 2018-2019 edition). It says “confidential information [is] information that is either…identified by the client as confidential when providing it to an appraiser and that is not available from any other source; or…classified as confidential or private by applicable law or regulation” (ibid; emphasis added). Notice confidentiality flows to the client, not to any...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Uniform Standards of Professional Appraisal Practice / USPAP

Using SmartExchange? You May Have Violated State Law & USPAP 30

The Possibly Just Became Reality!

Using SmartExchange? You May Have Violated State Law & USPAP I will not drag this out. I will simply be direct and to the point. IF YOU OPTED IN TO ALAMODE’S SMART EXCHANGE, YOU MAY HAVE JUST VIOLATED STATE LAW AND USPAP ON EVERY APPRAISAL YOU HAVE EVER COMPLETED. Let me repeat that so it sinks in a bit… If you opted in to alamode’s Smart Exchange, you may have violated State Law and USPAP on every appraisal you have ever completed. Now that it has sunk in, let me explain. Each state statute may define an appraisal differently. Some...

a la mode / Appraisal / Appraisal News / Appraisal Software / Appraisal Technology / Appraisers News

What is Real Estate Valuation Partners Hiding? 13

What is Real Estate Valuation Partners Hiding?

In the case of the FTC vs Louisiana Real Estate Board, Real Estate Valuation Partners (REVP) was issued a subpoena by Louisiana to provide some documents. They have filed a motion to quash the subpoena and not provide documents. When you read through the 11 page document, and we highly recommend you do, it appears REVP is hiding crucial documents that may be incriminating to themselves and other appraisal management companies. There are 12 specific items being requested. Take a look for yourself here. It is very telling! b.  Requests No. 4, 5, 6, and 11 ask for REVP’s internal...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Blast AMCs Emails Do Not Meet the Spirit of The Law 16

What Goes On Behind The Scenes…

This year it appears many AMCs have turned to blast requests of fee and turn time. We get them constantly and simply delete them. Last week we received a blast email from an AMC that sends out blast requests for bids. We have never worked with Appraisal Nation before and don’t know how we ended up on their panel. In their rush shopping for the cheapest and fastest appraisers, they forgot to BCC the appraisers they blasted. It appears that this AMC is not only incapable of maintaining quality control and assuring competency for specific assignments but by disclosing appraisers’...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

Higher Value Bids - Appraiser Versus Machine 32

Appraiser Versus Machine?

Loan officer, the bank, homeowner… want a higher value… Automated Valuation Models: Are they any good? Appraiser vs Machine? AVMs were run on a few properties that were recently appraised. The results are well, ….. they are what they are. The questions are: Are they good? Are they good enough? Will the consumer accept them? Will the banks and lenders accept them? Below are the samples. We have to be careful as we are appraisers and don’t want to be sitting in front of the VREAB explaining why we shared assignment results in violation of the confidentiality requirements of the...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Automated Valuation Models / AVM

Social Media Spies & the Appraiser- Guess Who's Watching! 18

Why Not the Appraiser? Guess Who’s Watching!

No Time to Spare & Social Media Spies! Business has been crazy! We are hearing from appraisers how swamped they are; 2-3 week backlogs, working late and report writing at 4:30 AM. We are also hearing how tired and stressed they are. AMC and lender demands, updates, scope creep, and revision requests, are all taking a toll. An appraiser posted on Facebook she “broke down in tears” last Friday because she did not know how it was all going to get done. Life is too short to allow this… Take control of your time and your schedule. Spend some time...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Social Media & USPAP Confidentiality Requirement 35

Think It Through Before You Post!

Appraisers are Professionals, Social media is a fact of life. There are many appraisal industry social media outlets for appraisers to connect. These forums provide a great resource for appraisers to seek advice from other appraisers, voice their opinions on industry related issues, and sometimes just to vent a bit after a rough day. This is where we need to be careful….. We have all read comments on social media outlets that you just have to stop and think to yourself, “I can’t believe someone actually posted this”. Confidentiality is a requirement of the Uniform Standards of Professional Appraisal Practice....

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / E&O / Errors & Omissions

Review appraiser - adjustments 8

Observations of a Review Appraiser

Adjustments appeared to come from some List or Automated… Recently I had the opportunity to work on a Class Action case. The case settled, and there are confidentiality agreements for both sides, so I cannot reveal any details. I will summarize the allegations and findings, as well as the scope of work performed. I should say also that before being hired, I was interviewed, and vetted. Every reference provided, was contacted, as well as a records check and background check. What they were looking for was a combination of a clean reputation for being unbiased, as well as depth of...

Appraisal / Appraisal News / Appraisers News / E&O / Errors & Omissions

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