Definition: BPO is an acronym used extensively for a "Broker Price Opinion." While we do CMA's, or Comparative Market Analysis, for our real estate clients, BPO's are different.
A lender, bank or loss mitigation company my have homeowners with delinquent mortgage payments. In the period before foreclosure, the lender will pay a real estate broker to complete a BPO on the property. Usually the lender has their own form and criteria for how the valuation will be verified.
