function bp_core_load_template( $templates ) {
	global $wp_query;

	// Reset the post.
	bp_theme_compat_reset_post( array(
		'ID'          => 0,
		'is_404'      => true,
		'post_status' => 'publish',
	) );

	// Set theme compat to false since the reset post function automatically sets
	// theme compat to true.
	bp_set_theme_compat_active( false );

	// Fetch each template and add the php suffix.
	$filtered_templates = array();
	foreach ( (array) $templates as $template ) {
		$filtered_templates[] = $template . '.php';
	}

	// Only perform template lookup for bp-default themes.
	if ( ! bp_use_theme_compat_with_current_theme() ) {
		$template = locate_template( (array) $filtered_templates, false );

	// Theme compat doesn't require a template lookup.
	} else {
		$template = '';
	}

	/**
	 * Filters the template locations.
	 *
	 * Allows plugins to alter where the template files are located.
	 *
	 * @since 1.1.0
	 *
	 * @param string $template           Located template path.
	 * @param array  $filtered_templates Array of templates to attempt to load.
	 */
	$located_template = apply_filters( 'bp_located_template', $template, $filtered_templates );

	/*
	 * If current page is an embed, wipe out bp-default template.
	 *
	 * Wiping out the bp-default template allows WordPress to use their special
	 * embed template, which is what we want.
	 */
	if ( is_embed() ) {
		$located_template = '';
	}

	if ( !empty( $located_template ) ) {
		// Template was located, lets set this as a valid page and not a 404.
		status_header( 200 );
		$wp_query->is_page     = true;
		$wp_query->is_singular = true;
		$wp_query->is_404      = false;

		/**
		 * Fires before the loading of a located template file.
		 *
		 * @since 1.6.0
		 *
		 * @param string $located_template Template found to be loaded.
		 */
		do_action( 'bp_core_pre_load_template', $located_template );

		/**
		 * Filters the selected template right before loading.
		 *
		 * @since 1.1.0
		 *
		 * @param string $located_template Template found to be loaded.
		 */
		load_template( apply_filters( 'bp_load_template', $located_template ) );

		/**
		 * Fires after the loading of a located template file.
		 *
		 * @since 1.6.0
		 *
		 * @param string $located_template Template found that was loaded.
		 */
		do_action( 'bp_core_post_load_template', $located_template );

		// Kill any other output after this.
		exit();

	// No template found, so setup theme compatibility.
	// @todo Some other 404 handling if theme compat doesn't kick in.
	} else {

		// We know where we are, so reset important $wp_query bits here early.
		// The rest will be done by bp_theme_compat_reset_post() later.
		if ( is_buddypress() ) {
			status_header( 200 );
			$wp_query->is_page     = true;
			$wp_query->is_singular = true;
			$wp_query->is_404      = false;
		}

		/**
		 * Fires if there are no found templates to load and theme compat is needed.
		 *
		 * @since 1.7.0
		 */
		do_action( 'bp_setup_theme_compat' );
	}
}