I love how Bank of America puts out this fantastic advertisement about their new system to change out buyers on short sales that is basically the same exact system. Now instead of a Hard decline on a file where you have to resubmit the entire file they do a soft delcine where you have to resubmit...the entire file.
Basically the only difference is that you can re-use your BPO if it's less than 90 days old and you can reuse the financials if they are less than 60 days old. However since the average appoval time for BoA is somewhere between 60 and 90 days from when the BPO was done it will most likely need to be replaced. Basically the only difference is that you get to keep the same negotiator.
Has anyone else had a different experience with this? I have done it now on 4 files and if the negotiator doesn't screw up and hard decline the file anyway this is basically the process. I'd love to know if there is another way though.
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Cody, I absolutely agree! That fantastic advertisement put us Negotiators in a really tough place.... As if we don't have to work hard enough to prove we're working hard enough....... My last two did, indeed, take the same 60 days that it would have before the "Grand Announcement", and everyone was questioning my process! thanks, BOA!
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