Under Illinois law (225 ILCS 454/10-45) BPO and CMA reports can only be made for the marketing or potential marketing of real estate interests, or as an additional opinion in mortgage origination.

• There are no required standards or ethical requirements codified for BPO or CMA development; therefore, these have very limited accountability to regulations.
• They can be developed using any method, with data and opinion from any source, regardless of verification or bias.
• There is no requirement to be uninfluenced by contingent fees, commissions, or beneficial business arrangements.