Replies to This Discussion

Permalink Reply by Bryant Tutas on December 14, 2009 at 9:28am

Ronnie, I have not had to resubmit and of my packages through REOTrans. You should be OK.

Permalink Reply by Ronnie Ahmad on December 14, 2009 at 9:35am

thanks for your quick response, i will let you know

Permalink Reply by Makoto Sato on December 14, 2009 at 10:23am

I have the same situation. BoA tells me that, since I have a "Legacy Loan" (Countrywide) They are in the process of converting those to BoA. I don't think you have to resubmit all of the documents. Since it's been a while, you may need to update the financial info from the seller - 1 Month Pay Stubs, 2 Mos. Bank Statements. Try asking them what information needs to be updated next time you talk to them.

Permalink Reply by Ronnie Ahmad on December 14, 2009 at 2:23pm

thank you for your feedback, will try in the morning

Makoto Sato said:

I have the same situation. BoA tells me that, since I have a "Legacy Loan" (Countrywide) They are in the process of converting those to BoA. I don't think you have to resubmit all of the documents. Since it's been a while, you may need to update the financial info from the seller - 1 Month Pay Stubs, 2 Mos. Bank Statements. Try asking them what information needs to be updated next time you talk to them.

Permalink Reply by Jeffrey Burnham on January 1, 2010 at 7:23am

yes... this is their latest ploy to stall. You have to reinput everything and gather all sorts of Buyer data. (Their social sec., address, etc.) It's suppossed to "speed things up." To make life interesting, as most of you know... B of A has also issued new loan numbers to all their borrowers. I wonder who stays up late at night at B of A to come up with this stuff?

Permalink Reply by MeLisa Minter on January 6, 2010 at 3:04am

Unbelievable. I didn't know the bank changed the borrowers account numbers.

I too begin to wonder who thinks of these things at BOA.

Permalink Reply by Pacita C Dimacali on January 7, 2010 at 11:53am

The listing agent for the property on which I wrote the offer, back in August, said she had to resubmit the entire package again. That now, everything is online, and they may be able to track the progress (or lack of)

And they need additional information regarding the buyer (first 5 digits of the social security number, birthday and phone number).

Apparently, there's not one answer.

Permalink Reply by Jim Hale on January 9, 2010 at 10:15am

Is this system limited to the highly impacted states? Or is it nationwide? Does anyone have a complete list of states where this automated system applies?

Permalink Reply by Dawn Barrier eXp Realty Vegas on January 11, 2010 at 6:44am

Hi Jim, I posted some info on your other ? hope that helps. The ReoTrans/Equator system is just that a portal/system/online system to track and upload the info. It is nationwide.

Permalink Reply by Dawn Barrier eXp Realty Vegas on January 11, 2010 at 6:46am

Ronnie,

I was months into a short sale and then was informed it had to go thru Equator/REO trans...so...you need to get with a supervisor and then, you may not get a straight answer.

Permalink Reply by Jeffrey Burnham on January 11, 2010 at 7:00am

I have one submitted back in July... they moved to REOTrans in Dec... made me RESUBMIT ALL SAME DOCS... and STILL no progress. Typical B of A psoturing of how they're going to make things better. Yeah, riiiiight.

Permalink Reply by Ronnie Ahmad on January 11, 2010 at 8:13am

Supervisor??? right, they didnt care, i had to resubmit everything i am now back into valuation status, i emailed our old negotiator and she replied telling me that there is a new one assigned??? 7 months and counting
the new one emailed me indicated that the file is in valuations, which means another appraisel, what a joke!!

Dawn Barrier CSP®,HRC said:

Ronnie,

I was months into a short sale and then was informed it had to go thru Equator/REO trans...so...you need to get with a supervisor and then, you may not get a straight answer.