Big Bank BPOs...are they different than most?
If you're not a big bank direct broker then it is good practice to start doing BPOs as if you were doing them for a big bank AM. Here's what I mean.....All too often REO brokers (especially inexperienced ones) are too quick to simply "list" a few repair items and then guesstimate their costs on their BPOs. Since with many (obviously not ALL) companies this is acceptable, it becomes a common practice. The reality today is that most big banks are outsourcing their REOs and BPOS so you might already be working for them and not know it! [...]
