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Anonymous BPO sent to me today

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JRS at OBX

Thread Starter
Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
As we all know it is illegal for a real estate agent to perform a BPO for lending purposes in NC.

I checked my mail at home today and had an envelope addressed to my mother and I. My mother works with me but doesn't live with me and does not receive mail at my home address. The envelope does not have a return address on it.

In the envelope is a BPO performed by a local real estate agent. The subject address is redacted. The agent's name is on there, and the client is Nations Valuation Services.

I wonder if somebody wants me to turn the agent in, or if I appraised this property and came in less than the BPO?

:shrug:
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Maybe they think you are the BPO reviewer? It's weird that there is no communication directing you as to what they want done:shrug:
 

JRS at OBX

Thread Starter
Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Looking closer, the subject has to be a house on the same block as my mothers house. It's not her house though. I haven't done anything back there for a long time so they must want me to turn them in.

I'm baffled.
 

USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Who do think would prosecute that?
 

Susan Klimaszewski

Junior Member
Joined
Jan 9, 2003
Professional Status
Licensed Appraiser
State
Texas
Maybe it is a poor attempt at advertising. The realtor wants the neighbors to know what houses in that neighborhood are worth, in their opinion.

Some agents around here send post cards to neighboring houses after a sale.
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
As we all know it is illegal for a real estate agent to perform a BPO for lending purposes in NC.

I checked my mail at home today and had an envelope addressed to my mother and I. My mother works with me but doesn't live with me and does not receive mail at my home address. The envelope does not have a return address on it.

In the envelope is a BPO performed by a local real estate agent. The subject address is redacted. The agent's name is on there, and the client is Nations Valuation Services.

I wonder if somebody wants me to turn the agent in, or if I appraised this property and came in less than the BPO?

:shrug:
But what was the purpose of the BPO? If it was a relocation job, it is within the law.
 

JRS at OBX

Thread Starter
Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Who do think would prosecute that?

I've talked to the board about this before. They are interested in it but they'll probably just send a cease and desist letter.

But what was the purpose of the BPO? If it was a relocation job, it is within the law.

Well it has the subject address, the loan number and mortgagor redacted. From the square footage and the age of the house, I might be able to figure out which house it is. I'm going to do a little research on it tomorrow. If it was a relo then why in the world would I be getting an anonymous copy of it? If it is a foreclosure, same thing???

It's also dated 09/07. I've considered calling the real estate agent and asking him if he knows why somebody would send me a copy. Then I'll ask him if he did it for lending purposes. :rof:
 

USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Could of been done for PMI removal......


Could be a common, typical, BPO like the ones done every day by local real estate brokers than don't care about no stinkin' NCAB policy.
 

JRS at OBX

Thread Starter
Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
We called the agent. We asked him if he would know of any reason that somebody would send it to us. Then we asked him if he did it for lending purposes. He said he didn't know what it's for when they send him the request.

Figures. I still don't know why somebody sent it to me.
 

hglenbetts

Senior Member
Joined
Dec 3, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
Turn 'em In

I don't know about NC, but in Michigan, it's a violation for a licensed real estate sales person to perform any type of market evaluation for any purpose except to assist their customers in buying or selling real estate, and they can NEVER collect a fee for that service.

I would sent that to the State so fast the ink would smudge.

I've been a real estate broker and sales person a lot longer then appraiser, and when these e-mails and letters started going around offering to pay Realtors for BPOs, I put everyone in the real estate office on notice, I turn in violators!!:new_2gunsfiring_v1:
 
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