What’s a House Worth? Wall Street Turns to Drive-By ‘Appraisals’
Realtor
JANUARY 23, 2018
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., Meanwhile, appraisers and Realtors say the quality of BPOs has deteriorated as the price for performing them has dropped to as little as $25 a house from $50 or more.
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