http://www.batonrougerealestateappraisal.com/ - Are Baton Rouge Realtors Performing BPOs For Lenders Illegally?: No More BPOs For You! (How You Could be Violating RELRA)

On February 16, 2010, Renee Porsia posted an interesting article on AgentGenius entitled, “No More BPOs For You! (How You Could be Violating RELRA)“

It’s an interesting read and I recommend appraisers take time to read this one! Here’s a snippet:

“Perform a BPO and you may be violating the Real Estate Licensing and Registration Act (RELRA) and the Real Estate Appraisers Certification Act, and could be prosecuted by the Real Estate Commission or the State Board of Certified Appraisers or both.”

“For those Brokers/Realtors who are currently performing BPOs or those who have been performing BPOs to get extra income, those days are over and they should be grateful they have not yet been caught thus far.”

Mary Thompson also wrote on Active Rain about this very topic, “Just say no to BPO’s… in place of a bona fide appraisal“

Tags: bpos, broker price opinions