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Tag Archives: BPO

a la mode Expands Mercury Network to Offer BPOs

Oklahoma-headquartered a la mode, a developer of desktop, mobile, and Web tools for the real estate and mortgage industries, is expanding its Mercury Network vendor management platform (VMP) to offer broker price opinions (BPOs). Mercury Network is an online VMP, allowing lenders and appraisal management companies to manage appraisals nationwide.

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Pro Teck Offers Two Solutions to Meet New Appraisal Requirements

Federal regulators have amended their interagency appraisal and evaluation guidelines for real estate transactions, and confusion has set in. According to Pro Teck Valuation Services, the 70 pages of hard-to-decipher rules and conditions have led industry participants to ask the following question more than anything else: What can I use to replace broker price opinions (BPOs)? Pro Teck says it has two products in production and available to clients today that meet the new interagency requirements.

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BrokerPriceOpinion.com Names New President

BrokerPriceOpinion.com recently named Michael Richardson as president. Richardson will manage the day-to-day national operations of the company, which develops Web-based BPOs, appraisals, and automated valuation models to streamline the valuation process. Richardson brings more than 25 years of experience in the mortgage and real estate industries to BrokerPriceOpinion.com.

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CoreLogic Launches Commercial Real Estate Evaluation Service

CoreLogic has introduced a new commercial property evaluation service that utilizes more than 7,500 real estate brokers and contract appraisers to provide commercial valuations for lenders, investors, and special servicers. CoreLogic says its system allows users to quickly determine the current market rent for properties more cost effectively than formal commercial real estate appraisals. The new service can deliver a valuation in 10 business days on average, and users can order and track valuations online 24/7.

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InsideValuation Partners Names New Community Manager

Nevada-based InsideValuation Partners, LLC, a provider of commercial evaluations, residential broker price opinions (BPOs), and value reconciliations, recently appointed Sara Schlosser as community manager, a position that focuses on the continuing education and updating of InsideValuation's valuator panel regarding current industry needs.

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Summit Valuations Offers Market Intelligence Tool to BPO Clients

Summit Valuations, LLC recently announced that the company's Market Intelligence Tool, a critical component to its quality control process, now accompanies each broker price opinion (BPO) provided to Summit clients. The Market Intelligence Tool taps into the unified data warehouse to query similar listings and sales transactions surrounding each subject property. It also integrates with Google maps to provide interactive insight into the subject property and its immediate neighborhood market conditions.

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FinCEN Announces 7 Percent Rise in Mortgage Fraud Related Reports

The Financial Crimes Enforcement Network (FinCEN) said this week that suspicious activity reports (SARs) indicating mortgage loan fraud increased seven percent in the first half of this year. Banks and thrifts filed 35,135 mortgage-related SARs from January to June 2010. The federal agency found that reports referencing the term short sale appeared 827 times, and SARs referencing broker price opinion appeared 41 times during the first quarter of this year alone.

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Valuation Provider Adds Home Price Trends to BPOs

The Texas-based valuation firm eMortgage Logic (EML) said Tuesday that the company has aligned itself with what EML describes as a ""leading real estate analytics innovator"" to provide clients with a complimentary home price trends chart. This visual aid will now appear on all broker price opinions (BPOs) to illustrate the dynamics of the subject market's volatility.

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Pro Teck Hires Industry Veteran for Senior Director Role

Pro Teck Valuation Services, a real estate valuation and risk solutions provider, has added Julia Davey to its team as senior national sales director. In her new role, Davey is responsible for developing client-specific valuation solutions for lenders, servicers, and investors from Pro Teck's West Coast office. Davey has 20-plus years of industry experience. Most recently she served as a national sales executive for Lender Processing Services.

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Green River Promotes Stephen Sherman to COO of Sister Companies

Green River Capital (GRC), an REO asset management and loss mitigation provider, recently promoted Stephen Sherman to COO of its sister companies, Green River Financial (GRF) and Infinity Valuation Services (IVS). In his new role, Sherman will oversee operations at GRF and IVS, the group's short sale program provider and BPO company, respectively.

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