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Indian BPO's

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David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Just got an email from a company that will do BPO orders "end to end". www. abvinbpo. com
Apparently they do all the work from India, you sign the report as if you had done it, and no one's the wiser. If you do BPO's, this is probably what you're competing with. If you use BPO's to make a lending decision to save a few dollars, this is a good example of the quality of product you get, and probably deserve.
 
Joined
Jun 2, 2007
Professional Status
Certified General Appraiser
State
Florida
I looked at the testimonials which are all sales agents/brokers - no mortgagees or appraisers. They don't seem to even be trying to go directly to the mortgage, which is odd and maybe I'm missing something. I am ignorant when it comes to state laws regarding BPOs but I don't think there is anything in Florida.
 
Joined
Jun 2, 2007
Professional Status
Certified General Appraiser
State
Florida
I looked at the testimonials which are all sales agents/brokers - no mortgagees or appraisers. They don't seem to even be trying to go directly to the mortgage, which is odd and maybe I'm missing something. I am ignorant when it comes to state laws regarding BPOs but I don't think there is anything in Florida.
Sorry, a search turned this up: https://www.flsenate.gov/Session/Bill/2017/00716 which specifically permits appraisers to do evaluations (BPO's, right?). I'm not familiar with FREAB lingo, but it looks as though it was included in CS/CS/HB 927 and presented to the Governor May 8th. Hmm... what are they getting for BPOs now?
 
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I think the testimonials are BS - they are all worded/phrased too similar. The company states in line #1 it works with the mortgage industry, however BPOs cannot be done for mortgages, at least in my state. BPOs can only be done in an instance when the broker is working towards acquiring or already has the listing. This scenario was the excuse the lobbyists used to get the law changed in the first place, citing BPOs were necessary in their line of work, to forward their line of work. Brokers who provide BPOs for any other reason are acting outside of the law and lenders who rely upon them are relying upon illegally produced products, at least in WI. Waiting to see the hammer dropped down on this, would think a clever lawyer would jump on it.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
The issue here is really not whether BPO's are good or bad, or allowble or not, but rather that it appears this company across the ocean does the entire product, and the agent just signs the report, pretending that they actually did it.
 

sandpiperapp

Senior Member
Joined
Apr 5, 2011
Professional Status
Certified Residential Appraiser
State
New York
Indian BPO's. Funny, my first thought was that they were from the Sioux, Apache or the Alongonquins. These are BPO's from India. What a knucklehead I is.
 
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Meandering

Elite Member
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Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Don't feel bad, Sandpiper,


I was wondering who cares what an Indian is worth If you don't have one?

.
 

TRESinc

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Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
The issue here is really not whether BPO's are good or bad, or allowble or not, but rather that it appears this company across the ocean does the entire product, and the agent just signs the report, pretending that they actually did it.


ahh the joys of not being held responsible or accountable for a work product.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Why not "Lenders" will get bailed out anyway.....just part of Regulatory game that wasn't accounted for.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I didn't read specifically that all they require is the agent's signature and they do all the rest?
I couldn't tell in the flow-chart they provided if that is the case. The testimonials seem to be about their data gathering, entry, and QC process.

I'm not seeing how this is any different from some of the companies (based in India, but not exclusively so) that do form-filling/data-entry for appraisers?
I'm not defending nor attacking the company/process. I just don't see where it says all you need to do is sign the BPO and we do everything else?
 
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