BPO Usages

The following chart is a listing of the most common usages of Broker Price Opinions - BPOs.

 

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

 

 

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