BPO company. I just logged into the site to see if it was approved and found that they even changed the comp to one that does not even exist (the property exists, but didn't sell when they say it sold). I forgot to print out a copy for my records before I submitted.

NOT AVM.... Why do agents work for unethical companies like this? If these companies know what comps are there then why are they paying you do a bpo? Makes no sense to me

I would Say something about it.
Once it gets verified, it’s your butt on the line. I have had the same happen to me. I spoke up about it, and never received another order from them again.

Hey Val..we know your company would not have changed values. Welcome again, it's nice to have a rep among us that can feel our pain.

This is why I quit working for evil. Why don't you let us know who it was so we can all keep a watch on our work.

I often do BPOs where, when I pull up the “GRID”, some of the information is already filled in. In the past, this has usually been because some other agent originally took the assignment and then found themselves unable to complete it. Often, this has been because they quickly collected the information on the Subject, input it and then found it impossible to locate appropriate Comps, or enough Comps that would be satisfactory. I always start from scratch so that I can take responsibility for everything that is on the "GRID”. I know who many of these other agents are, and that they are the ones who will work for cheap, as long as the BPO isn’t complicated – then they cut and run if it's difficult.

Recently, I had a BPO “FORM” or grid come down which already had information in it on the Subject which was at serious odds with information that the Town Tax Assessors had in their records. For example, here's what the BPO Company had versus the Assessors on a few items:

GLA: 3340 SF versus 3045 SF;

AGE: 1900 (108 Yrs) versus 1840 (168 Yrs);

BDRMS: 4 versus 7;

LOT SIZE: 3340 SF versus 21780 SF;

BATHS: 2 Full versus 1 (two ½ baths)

After I turned in my Opinion, QC got back to me and said they needed to have the BPO done over with NEW Comps pulled to reflect the information that “they” had put into the Grid about the Subject. I balked at the idea of using information which was, in most cases clearly WRONG; but the QC person says that the Client wants those numbers used because they were on a “Recent Appraisal”. I told him that having been to the property, some of the Appraiser’s figures are clearly absurd and may be typos (like the Lot Size being exactly the same as the GLA).

I said ”You’ve got the correct material from me and you still want me to alter it, to FALSIFY it in order to make it match something you got from a Client who has never been to the Property”. “Who is this Client ?” QC says he does not know ! I said “Well, what is your Name ?” He gave his name to me and I said, “You keep the BPO the way it is”; make a copy and put the incorrect information in to make yourself happy, and turn it in altered, to make the Client happy. I will only associate myself with the falsified version if I can insert a BIG DISCLAIMER that “YOU” asked for the incorrect information to be put on the Subject Column. And as far as the Comps are concerned, the factors you want changed won’t make a bit of difference . . . . they are all BIG, OLD Houses on little bitty LOTS, that have sold recently. Not many to choose from !

In this time with substantial Mortgage Fraud being discovered and publicized, I was wondering if any of the rest of you folks have encountered these Pre-Loaded BPO Grids and wondered how you have handled it. I have never been directly asked to falsify one of these before – maybe it is commonplace ?

I know that we’re not building Cruise Missiles over here; but Real Estate has become a little more of a business of precision in order to stay out of the Court Room, and if I can avoid it, I don’t want my name on anything that I know is FALSE. But I also suspect many get changed AFTER submission without our knowledge - and you just confirmed it !

Lock your pdf.

I don't even know where to begin. It is a well thought of company on this board. They didn't do a good job of fabricating information. The BPO is just not consistent now. I wouldn't accept any new assignments from them.

This happened to me the other day with SS, and then I went back through and looked at my past work, and they have been doing it on all of them! Changing my values, and changing my adjustments. Dont really know what to do about it, but it certainly makes me nervous..

Some servicing companies will do it. Litton said if they don't like a value they will adjust it.

This is not true... All of our bpos are done on a protected site & Litton cannot go in & change any values. They get what we send them. They may make a note on the bpo file that they feel another value is more reasonable after looking at all the comps...but they cannot in anyway change the value you put on our bpos. Maybe for other companies it might be different but not on AVM bpos.

So far no problems here, but I will be upset if they change my work.

I have had this happen to my firm on many occasions throughout the years. Always, Always, Always!!! save & archive copies of the completed bpo***did I say ALWAYS???!!!! Don't trust any company, only trust yourself because when & if you and/or your broker has to utilize your attorney & e&o for such nonsense, you will have the factual proof & documentation in the correspondence to cease further actions in these situations. If anyone even remotely suggest that you alter values etc...beware and document all correspondences that states clearly that these are not your values and that you were asked/forced to change the values by whom ever sent you the email & I always document the BPO with this exact information. I know that the mills dislike it when I document the order with this information but this is business and I have never in my entire career had any lawsuits and never had any lawsuit threats and I will ensure that I don't. That is my responsibility. I have had companies demand that I change my values or I would not be paid because their client was looking for a different value. Save all emails and correspondences and archive them. I have back-ups on all email correspondences, solicited orders, completed orders, clarifications, etc...located in 5 different locations. The unfavorable mills, I let them hang themselves with emails. Stop speaking to these people over the telephone and communicate only through email & problem solved. Over the telephone, it is hear say & your word against theirs. Everyone has editing capibilities!!!

Personally, I don't worry about such nonsense. They are asking for an opinion after all.

Thanks MadHatter... That is Exactly why it is called a Brokers Price Opinion. The servicers & banks know we do not have appraisers doing them.

I never worry about being sued. You can't sue someone over an opinion. I guess you could try but you wouldn't get very far with me. I'd just repeat OVER AND OVER....O-P-I-N-I-O-N.