SANTA BARBARA, Calif.--(BUSINESS WIRE)--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.
Equi-Trax Asset Solutions, LP, Santa Barbara, CA, is a national property valuation firm servicing the U.S. financial services industry. By leveraging AVM technology and the skills of certified appraisers licensed to serve the mortgage industry, Equi-Trax developed a new line of collateral valuation products that combined the best elements of BPOs, AVMs and desktop appraisals. Equi-Trax has earned a leading position in the industry through the use of detailed analytics, quality control, valuation accuracy and service flexibility. The firm’s technology platform uses over 400 data rules and connections to over 17,000 certified, evaluated and performance-rated vendors to give its clients the information they need to manage their risk appropriately at a price they can afford. Find out more about Equi-Trax Asset Solutions at http://www.equi-trax.com.