Bank of America-will have no more BPOs (Broker Price Opinion)

Late Friday I spoke with a Bank of America negotiator who's in Delaware. She reported many changes are coming to BofA, one of them, no more BPOs or appraisals....they are moving into using AVA or AVM (like Zillow).  Can you imagine how that will screw things up? Holy crap no actual human being looking at our listings...?

Others warned me but I don't believe it. The agents in our area from Watsonville to Boulder Creek that do BPO's (Broker Price Opinions) for BofA have NOT got an assignment from May 1 to May 10, seems to prove it. But I want to hear from you....

 

B of A used to be fairly easy to get an approval letter for me...getting a little worried here. So I asked her to tell me what AVM they will be using and she gave it to me.

Here is the website that BofA is using to replace BPO's and appraisals now. http://realestatecenter.bankofamerica.com/tools/marketvalue.aspx?cm