BPO Automation Group's Blog: April 2018

Why is BPO Work Available?- By: Your BPO Coach - Nicole Ocean

WHY IS BPO WORK AVAILABLE?

“Where there is a need, opportunity exists” a quote by well… me, at least I hope no one else thought of this!

I have found through personal experience in learning the importance of watching for trends and finding opportunities that have the potential to help vast amounts of people in a positive way.

This same logic applies to why BPO work is available for real estate professionals as a whole. I wish that I could pinpoint and name the exact person who created BPO’s and the exact date when they were first used, but I can’t.

Instead, as mentioned before Broker Price Opinion orders exist as an alternative to requiring an appraisal report be ordered and used in certain situations.

BPO work is available because of a need for their use in these situations:

- Residential Sales

- Due Diligence Measures on Appraisal Reports

- Loan Origination*

- Internal non-lending purposes

- HELOC and Home Equity Loans

- Private Mortgage Insurance Removal

- Secondary Markets

- Distressed Loans

- Legal Issues  

* As permitted by FIRREA under $250,000

Another important item to note about this topic is as of checking online on December 18, 2017 on the ML-Implode website they state that “Since late 2006, 388 major U.S. lending operations have ‘imploded.’ ” Quote: http://ml-implode.com Learn more about everything you need to know to get started doing BPO’s right here.

Comment balloon 0 commentsNicole Ocean • April 05 2018 01:49AM
Why is BPO Work Available? - By: Your BPO Coach - Nicole Ocean
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