The following chart is a listing of the most common usages of Broker Price Opinions - BPOs.
| Residential Sales |
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For seller - to gain a listing |
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For buyer as buyer's broker |
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| Additional diligence on appraisal |
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Appraisal review |
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Appraisal supplement |
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Quality control |
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Fraud |
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| Loan origination where permitted by FIRREA (under $250,000) |
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| Internal non-lending purposes |
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Valuation of portfolio |
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Mark to market |
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| Home Equity Line of Credit - HELOC (under $250,000 per FIRREA) |
| Home Equity Loan (under $250,000 per FIRREA) |
| Private Mortgage Insurance - PMI removal |
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| Secondary markets (loan but not underlying property not sold) |
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Establish portfolio price - seller |
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Due Diligence - buyer |
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| Distressed loans |
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Ongoing diligence/disposition |
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REO |
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Short Sale |
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Loan Modifications |
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Pre-Foreclosure |
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| Legal |
|
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Divorce |
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Estate settlement |
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Lawsuits |
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Prenuptuals |