I am very proud of the professionals who have given their opinion in this forum and I think that they have made it clear that appraisers and the board should control the appraisal reports, their signatures and how the information is presented to its end users. I also think that at the heart of the matter is who owns the data/report. If appraisers had been properly represented in the real estate industry the AVM's would not exist because their whole being is dependent on our work. I would like to present this example even though it appears in another industry.

In the Music and Entertainment industry, if someone "samples" an artists work that artist is compensated by the user because he created that work or he has the right to sue for compensation because the other party"without permission or compensation" used that artists work. Same thing with actors, when they create a sitcom or movie, they are still compensated for their work in the DVD and rerun market because they help to create the original work that the producers(or banks in our case) help sponsor. This would also apply to people in the insurance industry that use our work.

It is also incumbent on our industry apply pressure for disclosure when financial opinions of real estate value are exclusive to licensed appraisers or to clearly state that those opinions(BPO's) did not come from appraisers and therefore should not be insured or sold on the secondary market to Fannie Mae or Freddie Mac because it was not done by a professional nor subject to the normal review and inspection process by the underwriters and appraisers. This also brings up the point of their review process and if the information given in their reports is old information or relevant. we do not know if they are taking the appraisals of several different homes none of which have sold but been appraised and are then combined.

There should be an audit team of appraisers established by the Appraisal boards , banking and mortgage industry, whose purpsoe is to review these violations and monitor the AVMs' and their reports distributed for violations of the "Appraisers" code of ethics since they want to generate appraisal reports/opinons that are contray to the original appraiser's opinoins and disclosures.

Nelson Pollard, Owner

Pollard Appraisals