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 |
