Shelly - Was it a voluntary REOTrans or required by BOFRA? You can also post this in the REOTrans Group.
I opened the file via phone in the REOTrans system on 10/15. I had a full package (inlcuding all my Seller's info) uploaded on 10/20. BPO was ordered in November. Rec'd a counter via the system on 12/14. Responded with a counter back (they are getting really testy with title fees these days!) on 12/14. They said it typically can take 1-2 weeks for a response, but with the holidays it took longer. The trustee's sale is set for 1/7, so I called today to have it postponed and to inquire when I could expect an answer and they said by 1/6. She went ahead and requested the negotiator to review and postpone. Then not 10 mins later I received an email stating it was accepted!!! YAY!!!
I apologize for my late response.....
Ronnie-I was notified of the acceptance within the REOTrans/Equator system, but they also sent me an email. They are allowing 30 days.
Just got another one accepted today, 75 days in the system, and they gave me 30 days (but said we could get 45 if needed).
Jennifer-I was registered in the system from a couple years ago. Then, one day last Fall I was speaking to a negotiator (finally!) and she told me about the new 'system' on REOTrans, she also gave me the phone number. So, I called and set up 4 short sales all at once. However, your client MUST contact them to get assigned their own account and if your client doesn't do that then it'll hold it up indefinitely or until they foreclose (which they did on one of mine last week!!!...without notice!).
Good luck~! :)
Calling won't do any good. You just need to wait and concentrate on getting more short sale business! Sorry, had to throw that in. :) Remember, they're doing the same thing as any other negotiator (i.e., ordering BPO, compiling offer, sending to investor for review/approval, etc.) and in the BofA world that takes 60-90 days. Mine are currently running steadily at 75 days, but the caveat is that you (and your Seller) MUST have a complete file in the system or they won't do anything with it. Make sense?