Replies to This Discussion

Permalink Reply by Chris McGee on April 2, 2012 at 12:29pm

Thom, not sure where I got it from but here's the SS PC Addendum that I've been using, along with the Agent Certification.

Attachments:

• B of A SS Addendum and Agent Cert.pdf, 37 KB

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on April 2, 2012 at 12:34pm

Chris -

Thanks for this - although I have this one.  I saw another version during the Webinar today with a banner across the top like the new 3rd Party Auth and was looking for that one.  If I find it, I'll post it.

 

Cheers,
Thom Colby

 

Permalink Reply by Deb Orth on April 2, 2012 at 10:30am

Not much new that we hadn't already heard although I do think they are making a good faith effort to streamline the process and get these files done faster.  

As for having to do my own updates, that's not a big deal.  I always put my business partner's name on the 3rd Party Authorizations so we can both call or make inquiries.  Later this year we will probably hire a licensed assistant and that will take care of this issue as well.

Permalink Reply by Uilani De Motta on April 2, 2012 at 10:49am

If they are able to multi task hopefully it will be faster to close these short sales...but we will see!  As far as the process, the changes are fine, not much to them. My question though is they did not address the HAFA or COOP programs. If we want to start the short sale process early without a offer how will this affect us going forward. Typically we begin they do there whole valuations and come back with a sales price and we close...but if they are requiring that we have a offer when we initiate this process will be different.  Also, I have dealt with 2 third parties that do not go through Equator system, how will those be handled???

 

 

Permalink Reply by Wendy Rulnick on April 2, 2012 at 10:57am

I have not heard of changes where they are adding USDA, VA or FHA to Equator.  I would suggest calling prior to submitting any of those types of packages, and verifying if you are still to fax in, each time.

Permalink Reply by Chris McGee on April 2, 2012 at 12:36pm

Awesome news about simultaneous-tasking.  I understand the need for privacy but receiving generic emails will make it more complicated to file responses/communications through the message board (to retain them in our own file).  Even though alot of what we do is paper pushing this process still requires a good working knowledge of contracts, values, etc. and in the interest of representing our clients (both buyers and sellers) I think requiring 3rd party agents to be licensed is a good thing - increases the level of professionalism and education (not in all cases I know).  I looked in the agent resource center and didn't see the notice of the next webinar.  I accidentally deleted the email.  Maybe they'll send a reminder.

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on April 2, 2012 at 12:51pm

http://mp135934.cdn.mediaplatform.com/135934/wc/mp/4000/10584/12423...

Permalink Reply by Bryant Tutas on April 2, 2012 at 12:58pm

I just added the 4 new required forms the BofA group

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