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Update:
So I agreed to pay BMW to diagnose and pinpoint the problem. Result was internal malfunction of the front shocks. No damage externally and the front shocks were not leaking. Also both front shock were stiff.
Not surprising as I had to replace both rear shocks recently, and I live in an area with a lot and continually increasing number of bad pot holes.
BMW quoted $2k all said and done for the repair. They did say there are a few potential causes, so it has to be narrowed down for each case. And there will typically always be a slight faint noise going over bumps due the way the vehicle operates in the front.
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