CoreLogic Announces New BPO Review Service for Portfolio Evaluations
Real Estate Industry and Trade Media
Campbell Lewis Communications
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August 05, 2013, Irvine, Calif. –
—Less Expensive Alternative Will Support “Exception-Based” Portfolio Reviews—
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, announced today the immediate availability of BPO Review, a new broker price opinion (BPO) evaluation service designed to help capital market investors and due diligence providers assess the quality of BPOs completed by other BPO vendors that are used in portfolio acquisitions.
Best used post-award in the pre-settlement/due diligence process, BPO Review delivers both a judgment-based assessment of accuracy from trained industry professionals as well as data-validated scores for the primary quality elements. The report, compiled by real estate professionals, provides concise data output highlighting an agreement or disagreement with the estimated sale price, reasons for the finding and a new recommended price opinion. Each BPO is scored for the quality of its comparables selection, price accuracy, property complexity and overall risk. BPO Review is a less expensive and faster alternative to ordering new BPO’s on every property within a portfolio, offering a typical turn time of less than three business days.
“At CoreLogic, we’re always seeking new ways to provide our Capital Market clients with better valuation solutions. This solution was based on clients needing a way to get comfortable with the price estimates that are delivered within portfolio offerings,” said Dave Williams, vice president of broker price opinion services for CoreLogic. “BPO Review lets buyers and diligence firms test the quality of the existing BPOs and focus on the exceptions - properties where there is a disagreement on value or concern over complexity.”
Together, BPO Review (used post-award in the pre-settlement/due diligence process) and the existing automated product, BPO Check (used in the pre-award bidding process), provide an end-to-end solution for capital market investors and due diligence providers needing to determine portfolio valuation and formulate competitive bids.
For more information on BPO Review, visit www.corelogic.com/bpo-review.
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
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