BPO Usage

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How are BPOs used

The following is a listing of the most common usages of Broker Price Opinions – BPOs:

  • 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
    •  Prenuptials