RMV- Reconciled Market Value

[Herm M.]

What is reconciled market value, and how is it calculated?

Chase told me that after the BPO, they then do an RMV. I said "what the hell is an RMV, and how is it different from the BPO?"

The guy said something along the lines of "A BPO is what the property is worth, and RMV is what somebody is willing to pay for that property."

Anybody familiar with how RMV is calculated? How would the lender calculate "what someone is willing to pay" if they're not the ones patrolling the offers that are coming in?