bpo fraud: Incompetence, Fraud?, and Racist Comments - 03/31/09 02:26 AM
Incompetence
I have an REO listing. The BPO came in low compared to the last sale price. The seller - wisely - wanted to get a second opinion. Unfortunately the agent they picked to do it worked for a company 35 miles away. This property is in the oldest section of town, ranch on a typical small lot, and needs about $30K in repairs. This includes a roof, a kitchen, an a/c system, and many other things. The neighborhood has no conformity.
The BPO agent used comps an average of two miles away when there are plenty close by. He used … (8 comments)