Replies to This Discussion

Permalink Reply by Ben Benita on June 4, 2010 at 5:11pm

typically 3 to 10 business days, depends on the company used.
To avoid this in the future, ALWAYS meet the BPO agent at the property, with a packet that includes:

hardship letter on top
Comparables justifying offer
Repair list when applicable
Copy of the sales contract

Get the BPO agent's contact info. and follow up with them about when they sent in the valuation

Permalink Reply by Tammy Davis on December 9, 2010 at 11:00am

IndyMac is notorious for saying they don't have the BPO. I have been calling on one of my files where I know the BPO was turned in on 11/24. I called yesterday morning 12/8 and was told they didn't have it....I called again in the afternoon and the call center said the BPO was sitting unopened in the que....they have had it since 12/1. I called again today for a status (this property is set for trustees sale next week so I am calling at least once a day), and they immediately told me they were waiting for the BPO. I then explained what was found yesterday and I was put on hold for a couple of minutes..then he came back and said they had the BPO and it is now under review.

Permalink Reply by Cindy Young on February 9, 2011 at 2:16pm

In my experience with Indymac for the last 2 years they have not used Equator. They have taken froom 30-60 days for the BPO to be completed and given to the negotiator.