OnlineBPO Process - mdr-esources.com

1 Meridian Asset Services, Inc. Page 1 FAQ OnlineBPO Process Meridian Asset Services, Inc. Page 2 Contents Section 1: General form Guidelines ..4 Section 2: General form Guidelines ..4 Section 3: Photo Requirements ..5 Section 4: Photo Naming Convention ..6 Section 5: Comparable Choices ..6 Section 6: Value Determination ..6 Section 7: Payment ..7 Section 8: Becoming a MAS Preferred Agent ..7 Section 9: How to Install Silverlight required for processing BPO ..8 Section 10: BPO Assistance .. 10 Section 11: Technical Support .. 10 OnlineBPO User s Guide .. 11 Agent Receives Email Notification.

2 12 Agent Accepts or Decline BPO .. 14 Agent Completes Property 15 Agent Completes Neighborhood Data .. 16 Agent Completes Comparable Sales .. 17 Agent Completes Comparable Listings .. 18 Agent Completes Repairs .. 19 Agent Views Maps .. 20 Agent Uploads Photos .. 21 Agent Saves Changes and Submits 23 Agent Corrects Information, Saves Changes and Submits BPO .. 23 Agent Successfully Submits BPO .. 24 Meridian Asset Services, Inc. Page 3 Technical Support .. 24 Meridian Asset Services, Inc. Page 4 Section 1: General form Guidelines Screen resolution: 1024x768 or higher Browser Text Size: Medium Browser Zoom Level: 100% Section 2: General form Guidelines Please answer all questions on this form to the best of your ability.

3 While all necessary data is not always available, we ask that you do your best to estimate unknown figures. An error will appear in the form if a mandatory field is left blank. Please fill in with NA or unknown or 0 depending in the question to provide acknowledgement that the question was answered. Pull upon your local market knowledge to help give us insight into how your local market performs. This allows us to determine typical marketing times and REO saturation in your area. If you have any questions or if you are unsure of how to fill out any section of the form , you are welcome to give us a call and we will be glad to assist you in completing the form .

4 Please save frequently, by clicking on the Save Changes button, and prior to changing between tabs for best results. There is an automatic save function; however, you cannot submit the form with unsaved changes on any tab. It is frustrating to lose data, if you do lose any data that you have entered, please let us know and we may be able to recover it prior to re-typing a report. After opening the OnlineBPO screen, if system prompts with messages: Do you want to view only the webpage content that was delivered securely? Reply No Do you want to display the nonsecure items? Reply Yes . Selection of correct answer is required for the map to show for the Comparable Sales and Comparable Listing properties.

5 If you have any suggestions, concerns or improvements to the bpo, we would like to hear your feedback. Meridian Asset Services, Inc. Page 5 Section 3: Photo Requirements Without the requisite number of photos, our form will not allow you to submit your BPO. Please note that these requirements are only a minimum. We encourage you to take as many photos of the subject property as possible. The more photos the better! A minimum of 10 photos are required with exterior BPOs. A minimum of 36 photos are required with interior BPOs. Exterior BPO should include: At least 1 clear and unobstructed photo of the front of the property.

6 At least 1 clear and unobstructed photo of the address of the property. As many additional photos of the subject exterior as possible from different angles. 1 photo of the street in each direction from the subject property. Photos of any issues such as vacant and boarded neighboring properties, boarded doors/windows on the subject, site influences such as water front views or power lines, etc. 1 photo of each comparable from your local MLS. Interior BPO should include: Please provide all of the exterior photos listed above under Exterior BPO. At least 1 photo of the rear of the property. As many photos as necessary to capture the exterior landscaping, all outbuildings, pools, decks, etc.

7 At least 1 photo of each room, including bedrooms, bathrooms, kitchens, dens, offices, utility rooms, garages, living rooms, dining rooms, entertainment rooms, etc. Photos of any damages noticed in the property. Additional photos of features of the property that may hinder or aid in the overall marketability of the subject property. Meridian Asset Services, Inc. Page 6 Section 4: Photo Naming Convention Our photo system does not accept special or non-alpha numeric characters in the photo file name. If the photos tab appears frozen or not uploading the photos, please check the name of your photo, if there is a special character in the file name, you can delete the photo which will allow the system to continue to upload the additional photos.

8 !, @, #, $, %, ^, &, *, (, ) Any characters that are not A-Z or 0-9 may also impact your ability to upload photos. If you have checked for this and are still having difficulties uploading photos please call (727) 682-4640. Section 5: Comparable Choices Sold comparables should be from within the last 3 months if possible and 6 months maximum. Exceptions would apply for extreme rural areas and slow markets. Listings with more than 365 DOM should not be used, unless they are the best comparables available. Sold and Listed comparables should best reflect market pricing for subject and a value range should be within a 20% variance if applicable.

9 If a larger variance is needed between comps chosen, please describe in the marketing comments the conditions that cause a large price variance for similar homes Square footage for comparables should be within +/-20% of subject. Lot size variance should be as similar to subject as possible with no more than 40% variance. Please verify accuracy of comparable distances please do not estimate Please Provide GLA, lot size and age from an authoritative source (public records, MLS) if at all possible. Use appropriate comparables for Market conditions. If market is REO driven comparables should reflect this type of market. Please also include relevant distressed properties, even in more stable markets, when they apply to subject.

10 Section 6: Value Determination Choose comparables that support the opinion of value. For example, do not use 6 comparables at $500k and value the subject property at $300k. If the subject property is listed, value should not be over current list price without a detailed description for why this value is inaccurate. The Quick Sale Value should be below The Retail Value. Recommended List Price should be above The Estimate Retail Value. If you have any questions about these guidelines, feel free to contact us. Meridian Asset Services, Inc. Page 7 Section 7: Payment BPO Accounting terms are net 45, and the Process begins the day the BPO is received.