Fidelity National Financial Inc. has released a new product that was developed to assist real estate brokers in conducting home-price evaluations for bank-owned foreclosure properties, also known as "real estate owned" properties or REOs. The product automates the broker price opinion (BPO) process that is used to determine a rough value of the property and allows brokers to enter data online through a Fidelity Web site. Broker price opinions are professional valuations but are not formal appraisals. "Prior to automating the process, lenders were only able to view four data fields, requiring them to request a mailed or scanned copy of the printed report in order to obtain additional information," the company announced today. "With the new online format, lenders may now view more than 6...
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