Tag Archives: BPO

Fannie Mae has issued a notice to servicers detailing changes to how they should evaluate ""imminent default"" and how they determine the market value of properties for pre-foreclosure sales. The GSE is requiring servicers to apply the imminent default test now used only for HAMP modifications to all non-HAMP mods secured by owner-occupied properties. In addition, Fannie Mae is requiring servicers to use only approved providers for broker price opinions or appraisals on short sales and deeds-in-lieu.

With foreclosures expected to rise through 2012, Realis Real Estate Software recently offered tips for REO agents to avoid legal trouble when working with multiple foreclosure properties. The Denver-based workflow management software firm says foreclosure fraud is also increasing, which means potential damaging litigation. Realis says for agents, it all boils down to integrity, organization of all key data, and documentation.

Utah-based Infinity Valuation Services (IVS), a full-service valuation company for commercial and retail properties and the sister company to REO outsourcer Green River Capital, expanded its broker price opinions (BPOs) and appraisal services to include the valuation of retail or non-distressed properties.

BrokerPriceOpinion.com, a provider of customized valuation solutions, has launched its new Professional Property Inspection report, which incorporates detailed home information from an automated valuation model (AVM). The report also includes verification of the physical condition of the property and full photo documentation, and meets the new federal interagency appraisal and valuation guidelines that went into effect April 1.

BrokerPriceOpinion.com, a nationwide provider of client-customized valuation solutions, has named Chris McLain as its new director of business development. McLain will manage sales, re-seller relationships, strategic partnerships, and business development for BrokerPriceOpinion.com. He will be based in Gainesville, Florida, providing the company with an East Coast representative as it moves to accelerate growth initiatives in that region.

Collateral Analytics, a provider of automated valuation models (AVMs) and real estate analytic tools for the mortgage lending industry, and Valuation Partners, a national real estate valuations provider, recently announced a partnership venture. The move will improve Valuation Partners' current hybrid valuation solutions, according to a statement from the companies.

DRI Management Systems, Inc., a provider of default process management software, added new functionality with several new modules to version 1.4 of its flagship technology. Officially relabeled DRI Office, the platform was previously known by its development code name, Rincon. According to DRI, the new version was created to relieve mortgage servicers' workloads and improve results with capacity planning, workflow tracking, services ordering, and enhanced communication capabilities.

Green River Capital, an REO asset management and loss mitigation provider for mortgage servicers, investment firms, and banking institutions, recently announced several company achievements for 2010, including the addition of seven new clients, the expansion of its preferred agent network, and completion of its SAS 70 Type II certification.

InHouse Inc., a California-based appraisal management company and provider of appraiser management technology for banks, lenders, servicers, credit unions, and other mortgage originators, now offers technology to manage multiple broker price opinion (BPO) vendors, including BPO companies, appraisers, and individual real estate agents and brokers, via its Connexions appraisal management system.

BrokerPriceOpinion.com, a California-based provider of customized valuation solutions, now provides a new online repair cost estimator with its broker price opinion (BPO) services. The tool, available as an add-on to the BPO, generates repair estimates for REOs, short sales, and other properties. It covers interior and exterior repair cost and maintenance estimates and complies with new GSE and interagency valuation requirements.