NABPOP Advocacy Actions and negative BPO Publications

The intent of this page is to demonstrate a very real threat to the BPO industry and the necessity for active BPO advocacy.


The links on this page are publications that are negative towards BPOs and NABPOP actions to address the publications. In many instances, there is a call out to have BPOs banned or restricted by regulations and laws. NABPOP advocates that, rather than the government, the market should decide what valuation products to use and to not restrict any valuation product by law or regulation. The overall market has determined the efficacy of valuation products and if any product is suspect, it quickly dies out of the market as a natural function of business. This is the very essence of capitalism. In addition to advocating the widest use and availability of valuation products, NABPOP advocates BPOs specifically as well. Many of the arguments, pro or con, can be found in summary by clicking here BPO arguments


If you come across any publications that are negative towards BPOs, please contact NABPOP so we can take action. We would like the opportunity to respond to any and all negativity regarding BPOs and brokers that perform BPOs. Please send it to


Publications that were negative towards BPOs, brokers, and/or agents.



A proposal to ban the use of BPOs by Appraisal Management Companies (AMCs) was introduced in R162-150-3 Appraisal Management Companies. NABPOP opposed the proposed language and submitted a comment letter.

Comment Letter



The appraisal lobby attempted to introduce anti-BPO language in the federal house of representatives bill HR1728 for anti-predatory lending. The proposal would have significantly restricted the use and practice of BPOs on the federal level. NABPOP, along with other organizations, lobbied Congress to remove the restrictive language. The restrictive BPO language was removed. HR1728 was adopted as Title XIV of the Frank/Dodd Act that was signed into law July 15, 2010.


Appraisal lobby proposal


HR1728 with restrictive BPO language (extract)


Revised verbiage (refer to page 28)



Due to appraiser pressure, the Nevada Real Estate Division issued an Information Bulletin that restricts BPOs. There was no law or statute that restricted BPOs in Nevada and NABPOP felt that the Real Estate Division may have overstepped their authority by issuing this bulletin. As a response to the outcry from brokers, agents, and the NV Association of REALTORS, the Real Estate Commission established a BPO Task Force to investigate the issue. The Task Force was evenly divided in representation of appraisers and brokers.


NV Real Estate Division Information Bulletin


NV RED Advisory Opinion


NV Commission of Appraisers Minutes


Click here for NABPOP letter to BPO Task Force


NABPOP in conjunction with the Real Estate Valuation Advocacy Association - REVAA retained a lobbyist to address this issue. NABPOP and REVAA lobbied in the Nevada legislature and helped draft the language in Senate Bill SB184 which clarifies BPO practice and usage in Nevada. SB 184 was signed into law effective July 1, 2009.


Click here for SB 184



An article was posted accusing BPOs for the prices of homes falling. The article had heavy appraiser bias. The article was published in several prominent news papers around the country.


Article BPOs Causing Downward Spiral


NABPOP Response to Article



The Appraisal Institute responds to the FDIC for input on the "Loss Sharing Proposal to Promote Affordable Loan Modifications". In the letter they cut down BPOs and BPO practitioners. NABPOP responded with a letter to the FDIC.


Appraisal Institute's letter to the FDIC


Article about AI's letter


NABPOP's response letter


FDIC includes BPOs as an option (bottom of page 2)



The Appraisal Institute publishes a call for reform to the Interagencies.


Click here for AI Article


Click here for AI letter to Interagencies (full letter) Click here for the Extract of the article dealing with BPOs


NABPOP submissions:


Comment letter to FDIC - Federal Deposit Insurance Corp

Comment letter to FRB - Federal Reserve Board

Comment letter to NCUA - National Credit Union Administration

Comment letter to OCC - Office of the Comptroller of the Currency

Comment letter to OTS - Office of Thrift Supervision



In conjunction with REVAA's lobbying efforts, NABPOP provided the following letter to the Department of Treasury

Click here for NABPOP Letter to Department of Treasury


The Department of Treasury included BPOs in their loan modification program (page 3) on March 4, 2009.


The Appraisal Institute responds. Click here for AI response letter and AI press release

The Association of Appraiser Regulatory Officials responds. Click here for AARO response



The Appraisal Institute sent a letter to the appraisal boards in every state.


Click here for Appraisal Institute's letter



The following links are positive. No BPO or broker bashing here, but opportunities NABPOP used to get the word out about BPOs.



New Mexico passes pro-BPO legislation from Senate Bill SB205. Previously the law indicated a broker or agent could not get paid to provide a broker price opinion. This restriction was removed allowing brokers and agents to get paid to perform BPOs.


Click here to read New Mexico SB 205




Mississippi passes pro-BPO legislation. The Mississippi Real Estate Commission will determine standards for performing BPOs.

Click here to read the MS REALTORS Announcement

Click here for the PDF of the MS REALTORS Announcement



NABPOP supports NV Supreme Court to use BPOs in foreclosure mediation proceedings.

Comment Letter



FDIC request for comments for Legacy Loan Program - LLP. NABPOP provided the following comments - NABPOP comments


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