onlinebpo process - mdr-esources.com · meridian asset services, inc. page 5 section 3: photo...

Meridian Asset Services, Inc.

FAQ OnlineBPO Process


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 ................................................................................................................ 12

Agent Accepts or Decline BPO ...................................................................................................................... 14

Agent Completes Property Details................................................................................................................ 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 BPO........................................................................................................ 23

Agent Corrects Information, Saves Changes and Submits BPO .................................................................... 23

Agent Successfully Submits BPO ................................................................................................................... 24


Technical Support ......................................................................................................................................... 24


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. 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.

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.

If you have any suggestions, concerns or improvements to the bpo, we would like to hear your

feedback.


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.

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.

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.


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.

!, @, #, $, %, ^, &, *, (, )

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. 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.

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.


Section 7: Payment

BPO Accounting terms are net 45, and the process begins the day the BPO is received. To ensure timely

payments, we need a current W9 form. Please submit your W9 to

[email protected]. If you have completed work for Meridian in the past, we should

have a copy of your prior W9 on file, and a new one would not be required unless a change is needed.

W9’s are securely stored by accounting, and are used solely by accounting.

Section 8: Becoming a MAS Preferred Agent

Our approach to asset management is based on our belief that no detail is too small. This belief is

mirrored in our sustained vendor relationships. Performance expectations from agents, brokers,

contractors, attorneys, closing and escrow companies are the highest in the industry. We have earned

the allegiance of these business professionals through open communication, mutual respect, fair

treatment and appreciation for the services they provide. For more information about Meridian Asset

Services, please visit us at www.meridianassetservices.com. The BPO which you are working on is only a

small part of the services that we offer to our clients. We are always looking for additional preferred

listing agents across the country to list both REO and Short Sale properties for us. Our system is set up

to track not only the number of BPOs that you complete for us, but also their accuracy, timeliness, and

level of detail. We will be using this information to choose agents across the country for all company

needs.

mailto:[email protected]

http://www.meridianassetservices.com/


Section 9: How to Install Silverlight required for processing BPO

Step 1: On the CAM Photos screen, click on the Install Microsoft Silverlight icon


Step 2: File Download prompt

Step 3: Microsoft Silverlight Control Installer

Step 4: Install Silverlight 3


Step 5: Installation successful prompt

Congratulations! You have successfully installed Silverlight and can now upload photos.

Section 10: BPO Assistance

While working the BPO if you need support completing the BPO, please contact the Meridian Asset Services BPO Support team at (727) 682-4640

Section 11: Technical Support

For further information or support please contact the Meridian Asset Services IT Support team at [email protected] (727) 682-4640


OnlineBPO User’s Guide


Agent Receives Email Notification

The agent will receive two emails from Meridian Asset Services, Inc. (MAS).

1. The first email contains the address, fees, due dates, userid and link to record the BPO information.


2. The second email contains the password used for the login.


Agent Accepts or Decline BPO

When the agent clicks on the link from the e-mail and enters the username and password provided the final acceptance for working the order occurs. The agent may either accept or decline the BPO work at this point. If the agent accepts the work, the online screens are provided to the agent for completing the work and submitting back to MAS for review, acceptance and payment. Should the agent decline the work, the pending order will be closed and re-assigned to another agent by a MAS representative. The agent must click Accept to complete the BPO information.


Agent Completes Property Details

The BPO is divided into sections. Each section must be completed before submitting back to MAS. The first section at the top of the screen is the Property Detail information. After the property detail is completed it is suggested to select the “Save Changes” button before proceeding to the next tab: (Neighborhood Data).


Agent Completes Neighborhood Data

Neighborhood data contains pertinent information about the property’s location, market conditions, and historical transactions for the subject. Enter in the requested information, and select the “Save Changes” button before proceeding to the next tab: (Comparable Sales).


Agent Completes Comparable Sales

Information from the Property Detail and Neighborhood data will be pre-populated in the Subject column if applicable. For example, Original List Price will display, had the property been sold within the last 12 months, from the Neighborhood tab. MAS is requesting information regarding three comparable sales. After the information is complete, again select the “Save Changes” button before proceeding to the next tab: (Comparable Listings).


Agent Completes Comparable Listings

Information from the Property Detail and Neighborhood data will be pre-populated in the Subject column if applicable. For example, the number of bedrooms will display from the Property Detail section. Three comparable listings are required. After the information is complete, again select the “Save Changes” button before proceeding to the next tab: (Repairs).


Agent Completes Repairs

Some properties may need to be refreshed, repaired or refurbished to make it lendable or more marketable. Information regarding repairs should be provided in this tab. Please populate with any repairs that are visible for either an interior or exterior BPO. After the information is complete, select the “Save Changes” button before proceeding to the next tab: (Maps).


Agent Views Maps

There is no information required from the agent on the Maps screen. The map displays the Subject property in yellow, along with the three listed and sales properties provided from the comparable tabs.


Agent Uploads Photos

Without the requisite number of photos, our form will not allow you to submit your BPO. There is a minimum of ten (10) required photos for an exterior BPO and a minimum of thirty-six (36) required photos for an interior BPO. Please reference our BPO Guidelines and Frequently Asked Questions (FAQ) https://mdr-esources.com/CAMOnlineBPOFAQs.pdf for additional photo requirements. When the “Photo” button is selected the following screen is displayed. Select the “Upload Photos” button to proceed with uploading your photos.

Next select the photos from the folder on your computer where stored. You can select a group to upload or upload individually. It is suggested to store all photos for one property in a separate folder to easily retrieve and upload.


After the photos have been selected, indicate the photo type and provide a brief description, then select the “Upload” button. As the photos are uploaded there is a progress symbol indicating upload is occurring.

When the upload completes, all photos will be displayed. The agent can re-arrange the display by selecting a photo and moving to another location, or delete a photo by selecting and clicking the red X to confirm deletion. At this point the agent can either opt to select the “Close” button indicating photos have been uploaded or select “Upload Photos” to upload more. After selecting “Close” the user returns to the online BPO form.


Agent Saves Changes and Submits BPO

After all the data has been provided regarding the BPO. First select the “Save Changes” button. Then select the “Submit BPO” button and click “OK” to submit.

Agent Corrects Information, Saves Changes and Submits BPO

If information is missing messages will displayed to indicate what is required and will be identified by a red * next to the field. The agent can correct the required information on each tab, select “Save Changes” and “Submit BPO” again.


Agent Successfully Submits BPO When the BPO is successfully submitted without errors the following screen is displayed. A MAS representative will review and approve the work performed.

Technical Support

For further information or support please contact the Meridian Asset Services IT Support team at [email protected] (727) 682-4640

onlinebpo process - mdr-esources.com · meridian asset services, inc. page 5 section 3: photo...

Documents