Open in threadVA regulators block appraisers from online systems (news)
by AC 
, Thursday, November 20, 2008, 22:02
the Virginia board says appraisers should no longer use sites such as FNC's (and appraisalport & lighthouse Steve K @appraisercentral.com added appraisalport & lighthouse) and instead send their reports on a property's value in a secure and unalterable Adobe PDF format.
Associated Press
VA regulators block appraisers from online systems
By MITCH WEISS , 11.20.08
Regulators in Virginia are the first nationwide to actively discourage real estate appraisers from using online systems that could allow unscrupulous agents and lenders to remove critical information from the appraisal report.
The decision this week by the Virginia Real Estate Appraiser Board is aimed at ensuring consumers see every detail of an appraisers' report.
When appraisal reports are altered, consumers can end up overpaying for the property. That's because critical information that can reduce a home's value, such as property damage or a home's proximity to railroad tracks and highways, for example, can be hidden from prospective buyers.
"This is about the integrity of appraisals," said board chairwoman Diane Quigley. "I'm just surprised why aren't the regulators aren't more interested in it."
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