Derek Eisenberg

Unfortunately, this does not help REALTORS® and MLS members who have to agree to binding arbitration as part of membership in MLS with no assurance that the adjudicating arbitrators have to follow any rule of law or even their own rules. Instead it furthers the Kangaroo Rule of Law. Requiring arbitrations to adhere to both the law of the land and the bilaws/rules of the Realtor Association and/or MLS should be a right that no REALTOR® can sign away; not something you have to ask for which the asociation and/or MLS will never agree to. This is badly needed because if one does not agree to arbitration, one cannot peddle his/her wares (houses) in the marketplace (MLS). So it's basically give up your rights to a fair trial or go out of business. All arbitrations should be statutorily required to adhere to the law (and organization bilaws/rules) and any errors should always be subject to review by the courts. Derek Eisenberg http://www.mls2u.com

Michael (LittleBig), At the end of the day, regardless of whether the appraisal was good or bad, you signed a note and a check was cut. You saw how much money you would owe and had to know you were not capable of paying it back. Now let's say your house could adequately collateralize the loan amount. You would still lose your house. The only difference is that if your house was worth more, maybe you could have sold it instead of being foreclosed on but either way you borrowed more than you could afford and had to give up the house. Derek Eisenberg Continental Real Estate Group, Inc. Licensed Real Estate Broker http://www.mls2u.com

Unfortunately, the key issue is not being litigated and may never be; that is, if you want to conduct business with a third party (the lender), you have no choice but to agree to their terms. Besides FNC, Realtor.com does the same thing with their terms that they make you agree to when you log into their console. Here is the problem with each medium. FNC Many of the lenders that use Appraisal Port just want an online medium to order work. They have no desire to have FNC mine the data. FNC pushes this in their fine print to both sides; lender and appraiser. Also, an appraisal has an intended Use and User per USPAP and I believe this may violate USPAP as FNC and the people it sells the data to are not the intended user and Automated Valuation Models (AVMs) are not the intended use. Realtor.com We Brokers provide their data and you think they would be appreciative and kiss the ground we walk on for giving them content. Instead they bind me with all types of rules if I want to use my Showcase Listings account. So here are brokers making Realtor.com strong and once they get the power they use it against us with an agreement binding us by their terms. We should be binding them by ours for having the right to use our data. Same with FNC. FNC should pay us for using our data. Derek Eisenberg State Certified Real Estate Appraiser Continental Real Estate Services, Inc. Licensed Real Estate Broker Continental Real Estate Group, Inc.