Still can not believe someone at the Servicer said little weight is given the BPO.
 
I know these are the general guidelines for approval (as you note, all based on the bank BPO or appraisal):
 
Fannie Mae (FNMA) – 92% of BPO
Freddie Mac – 92% of BPO
VA Loan – 88% of BPO
FHA – 88% , 85%, 84% of BPO depending on time frames (see HUD pre-approval)
Conventional – 75% – 95% of BPO
Second Liens – 5% - 10% of amount owed
Third and other Liens – 5% - 10% of amount owed
 
so how can they say the BPO does not matter?
Makes no sense.