BPOs (appraisal, agent, PMI, banks)

[riaelise]

My lender has scheduled us to have a "BPO Interior" done. We seek to have PMI removed based on current value of our property.

Has anyone had one of these done? What is entailed? Is it somewhat like an appraisal, but done with a real estate agent? What does the agent consider? Does he/she do a cursory walk through or a little more, but less than what an appraiser would do?

Agents - if you've done a BPO, is there anything you'd like to share? Is it like a more comprehensive CMA?

Thanks!

[2bindenver]

Just like a cma, but on the banks form and with photos.

[reed303]

Details here:

https://en.wikipedia.org/wiki/BPO_st...and_guidelines

[MrRational]

No licensed appraisers where you are?