In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199 #00044

Submission Number:
00044
Commenter:
Creighton Cross
State:
Tennessee
Initiative Name:
In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
I have concern as a Certified General Real Estate Appraiser, licensed in TN, KY, VA and GA that this aquisition of Alamode by Corelogic will potentially harm the vested interest in our profession to protect the public. We are tasked with years of experience, research and development to provide sound opinions and conclusions for value. Mostly related to Federally related transactions or bank loans. This aquisition could be detrimental in the access and use of confidential data. As appraisers, we are required per USPAP (Uniform Standards of Professional Appraisal Practice to keep Appraiser/Client confidentiality. By this partnership, our confidential information could be potentially mined and used against the appraisers, and could also be utilized for services that are more automated in nature. This would eliminate the "Appraiser" in some regard from the equation, and creating a more automated, data driven application to the loan process. I have 13 years of experience and I know there are aspects to valuation that are data driven, but the experience of an appraiser and the understanding of markets often suprecede the indication the data directs us. I tell my staff, the data does not always lead in the right direction, as there is a common sense, gut feeling on some properties that is often the appraisers judgement. This is not available in the mass data that is being aggregated. Corelogic already has access and owns multiple data and appraisal platforms, and it is unhealthy to our profession and potentially catastrophic to the public trust to enable this large data aggregator to acquire the Alamode platform and utilize our own data against us. In the best interest of protecting the public, please consider this situation as dire.