What’s a House Worth? Wall Street Turns to Drive-By ‘Appraisals’
Realtor
JANUARY 23, 2018
home values by consulting Google Earth and real-estate websites. BPOs have been used to value collateral in the more than $20 billion of bonds sold by institutional landlords, such as Blackstone’s Invitation Homes Inc., Credit-rating firms usually discount BPO values when grading rent-backed bonds.
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