Replies to This Discussion

Permalink Reply by Gail Oleaga on February 24, 2010 at 1:16am

Hi, I have heard of this but have not heard yet how you get onboard other than joining REOTRANS just like before.

Hope thi helps! Have a great day, Gail

Permalink Reply by Jim Hale on February 24, 2010 at 4:34am

You can see evidence about this in presentation from BofA execs in various venues since December. They way I have seen it (on-line) presented by these reps makes it sound like it is going to be generally available. But it is also couched in language that suggests it is only really available in cases where BofA has made the first contact with the borrower - not the other way round - as in the outfall from the home retention process - where BofA is in a position to affect the borrower's choice of a listing agent.
It really sounds like, BofA is willing to do this front loaded process if (1) they get their foot in the seller's door and can affect the selection of LA and probably affect the amount of the listing commission and (2) they get to send the listings to agents who have paid them the $499 to fully avail themselves of the Equator training and service - and have additionally paid for the privilege of being considered in a particular zip code.
For any short sale being initiated by an agent who already has the listing, you appear to be stuck with the Equator reactive process so many of the postings here are inquiring about.

Permalink Reply by Bettie Meadows on February 24, 2010 at 12:48pm

Wow. I hope it i strue and that we alll get a piece of the action. .