Comments on: Bank of America Changes How They do Short Sales!

By: Matthew Smith

Matthew Smith — Tue, 24 Nov 2009 01:43:02 +0000

We are just implementing a new procedures in an attempt to streamline the REO Trans submission procedures. 3 new ones submitted today..*fingers crossed*.

By: Bob Lachance

Bob Lachance — Fri, 20 Nov 2009 19:29:05 +0000

Not yet, as not every BofA file goes on REO trans. They’re still trying it out and getting acclimated to it so each location only has one team of negotiators using it. We will though once it is the norm for ALL files to be on REO trans.

By: Matthew Smith

Matthew Smith — Thu, 19 Nov 2009 17:39:25 +0000

Have you changed your submissions procedures to using the REO Trans system exclusively now? Or are you still using the old system. We have seen turn times from a year and a half to 45 days with these yahoos.

By: John Steinwand

John Steinwand — Tue, 13 Oct 2009 17:19:20 +0000

I own a short sale Realtor advisory and lender negotiating company. Your BOA tip was 1st I heard of new process. I should not be surprised, because negotiating with BOA/CW/ETC is evidence they do NOT want to short sale their zero-equity assets.