Equi-Trax Asset Solutions LP, a national collateral valuation provider offering a line of hybrid valuation products delivered under a meticulous quality control process to bridge the gap between BPOs and full appraisals, has adopted the Broker Price Opinion Standards and Guidelines (BPOSG), which are consistent with the company’s own standards for high quality collateral valuations. The company provides a range of BPO and hybrid collateral valuation products to servicers, loss mitigation specialists, hedge fund managers and other investors.
BPOSG: Broker Price Opinion Standards and Guidelines is a compilation of standards and best practices for BPO practitioners--real estate agents and brokers created by the BPO Standards Board (BSB), in conjunction with the National Association of BPO Professionals (NABPOP). The standards and guidelines contained in BPOSG are utilized in determining the probable selling price of residential real estate properties. BPOSG is intended to be a set of quality control measures that adhere to the fundamentals, techniques, procedures, and best practices for real estate price evaluations.
“These standards are important for our industry, especially now,” said Guy Taylor, CEO of Equi-Trax. “We encourage the vendors we work with to follow these guidelines and because everyone we work with is quality-rated after each transaction, it quickly becomes clear which vendors are taking these standards seriously. It is no accident that many of our top rated vendors are members of NABPOP and have completed educational training and certification tailored around the same principles the BPOSG follows.”
The document outlines ethical practices for BPO practitioners and provides guidance on conduct, disclosures, proper application of techniques and more. The guidelines contained in BPOSG allow for flexibility in order to meet a diversity of requirements that are needed throughout the valuation industry.
For more information, visit www.equi-trax.com.