If you follow the "Automatic E-Mail to NAR" there's a form letter filled out for you (helpful huh?). It starts off "I'm a Realtor® in good standing." I haven't checked, but I'm not sure Fiserv requires their BPO'ers to be Realtors®. Like I say...I haven't checked so it's possible I'm wrong.
Please everyone...write NAR & give them your opinion (especially if you are a Realtor®).
Dear Fiserv BPO Vendors,
This e-mail is a call-to-action to step up and become involved in the protection and advancement of our BPO industry. While “the sky is not falling”, valid pro-BPO information is lacking. Showing interest, becoming involved and providing information shapes policy. We need you to be a link in that chain to ensure that Broker Price Opinions are defended, protected, and advanced. We need to let the industry’s federal trade association, the National Association of Realtors® (NAR), know how valuable and important BPOs are to you.
As you may already know, the BPO industry is being unfairly targeted by a few “special interests” and those who simply do not know the value of the Broker Price Opinion and its uses. Recurrently we have detected ill-fated attempts to block or restrict the use and practice of BPOs at the state and even at the federal level. Fiserv along with a few trade associations such as the Real Estate Valuation Advocacy Association (REVAA) and the National Association of BPO Professionals (NABPOP) are actively defending and advocating the BPO industry. Fiserv supports the BPO industry and we are asking all of our vendors to join together and take action to defend the BPO industry.
Since performing BPOs is a vital aspect of many REALTOR’s® business model, we want to encourage the National Association of REALTORS® (NAR) to stand with us in our efforts to protect, defend, and advance the legitimate generation and use of BPOs. NAR bills itself as “the voice for real estate”, and since BPOs are such a growing method of valuation we would like the NAR to put forth a pro-BPO policy. You, as REALTORS®, can give voice to this much-needed policy by contacting NAR via e-mail; letting it be known that BPOs are important to REALTORS® and the real estate industry in whole. The objective is a simple one, to have NAR establish a strong affirmative policy regarding the production, payment, and usages of Broker Price Opinions.
The most advantageous method to send a message to NAR is to send them an e-mail. There are two e-mail options, an automatic e-mail (verbiage, subject, and addresses automatically populate the e-mail) or an e-mail that you can write in your own words. An e-mail in your own words will be more powerful and we encourage you to take the time to write an e-mail. For automatic e-mail, simply click on the following link Automatic E-Mail to NAR (some e-mail programs will not allow automatic population. If the above link does not pull up a new e-mail, you will have to follow the below link and use the “copy and paste” option). If you would like to write the e-mail in your own words, follow the below link where we have provided some talking points that you can use as reference as well as the e-mail address to send the e-mail to. Click on the following link to access either option http://www.nabpop.org/Advocacy-CallToAction.php
The greater the number of requests that NAR receives, the greater the message will be. Please feel free to forward this e-mail to all of your associates that may have an interest in joining this call to action. The above page is accessible to the public and being a vendor of Fiserv is not a requirement to participate in this call to action.
BPOs are a “win” for the mortgage industry, REALTORS®, and consumers. In today’s tight mortgage environment, BPOs are a key tool, which, for example, is reflected within Obama’s Homeowner Stability Plan designed specifically to help troubled borrowers restructure their debt.
In addition, the top mortgage servicers utilize BPO’s when evaluating the best course of action when reviewing short sales, REO strategy, and portfolio reviews. While appraisals are the preferred product for underwriting newly originated loans; for many other purposes, BPO’s are faster, less expensive, and are performed by professionals like you, who have their finger on the pulse of their local market.
The vast, indeed overwhelming majority of NAR’s membership – the agents and brokers, would benefit from a strong proactive “PRO-BPO” policy stance. This call-to-action is to let you know that, as a dues paying REALTOR® member, NAR needs to hear from you. With your help, NAR will realize the importance of BPOs to you and do the right thing, by issuing a pro-BPO statement or policy. Our organizations will then be afforded the powerful opportunity to stand shoulder to shoulder, defending and advancing the mutual interests of our groups’ members.
NAR is recognized as the leading housing trade association. Government, the media, and a host of influential folks turn to NAR for real estate information and opinions. To be sure, NAR has tremendous political clout, which is why it’s so important that they adopt a pro-BPO stance and policy. REALTORS® have the chance to urge the Association, to take a stand in support of their business practices. By sending NAR an email we can show the Association how much BPOs are supported by their members.
Fiserv would like to thank you in advance for your efforts and for your support of our political advocacy of BPOs.
If you have questions or comments, please contact NABPOP at 800-767-0743 option 102 or Support@NABPOP.com" onclick="window.open(this.href);return false" onclick="window.open(this.href);return false
Fiserv Valuations Vendor Management
