The timeframes vary depending on who the investor is. A good general rule of thumb though would be 7-10 business days from the time that the file is sent to the investor.
It could be the following day. It used to be standard 10 business days, but lately I've seen them come in between 24 and 72 hours, providing there is no overlay like MI.
Likewise, it will depend on who the MI is. I would plan on an additional 7-10 days, but it could certainly be less depending on the company. You can reach out to BofA as well and they will be able to give you a pretty good estimate on the time required by that specific investor and MI. That will also put you in a position to escalate the file if either of those two tasks aren't completed within the specific timeframes that they quote you.
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.