Items Tagged with 'Broker Price Opinion'

ARTICLES

  • Moody’s: Appraisal alternatives pose new credit risks

    Could weaken credit quality of new RMBS
    The use of technological alternatives to traditional residential property appraisals is likely to expand in the coming months and years, yet it could bring risk to the mortgage industry, or so says a new report from Moody’s Investors Service. Here’s why.
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  • SEC probes single-family rental bonds

    Could be start of an industry-wide investigation
    The Securities and Exchange Commission is said to be investigating whether bonds backed by single-family rental homes are using overvalued property assessments. Green River Capital revealed in a regulatory filing that it was one of the market participants that received a request for information. However, it probably wasn’t the only one and probably won’t be the last.
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  • Settlement approved: Wells Fargo customers will get $50 million for overcharged mortgage fees

    Class action settlement over Broker Price Opinions is finalized
    Borrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo overcharged borrowers for Broker Price Opinions during that period, as a class action settlement covering the overcharging is now finalized.
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  • Partnership Links Valuations, Property Preservation

    Texas-based eMortgage Logic, a company that provides broker price opinions (BPOs) to the mortgage servicing industry, partnered with Ohio-based inspection and preservation company A2Z Field Services. The alliance brings together realtors, brokers, inspectors, REO field contractors, licensed debt collectors and loan modification personnel. Through the combined channels of the companies, eMortgage Logic said it will provide valuations and then offer preservation services through A2Z, which is also active in loan modifications.
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  • State Bill Favors Appraisals in Origination

    The Nevada State Senate's passage of SB 184 redefines the way broker price opinions are used in real estate valuations in the state. The law, signed today by governor Jim Gibbons, allows broker price opinions (BPOs) for a number of specified purposes including the listing of real property for sale and by potential lienholders on a property. The stipulations eliminate room for BPOs to be used in lieu of an appraisal in determining whether to approve a mortgage loan.
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