Comment

Comment by Bryant Tutas on August 9, 2014 at 9:38pm

hi Jean. The lenders do not pay commissions. The seller always pays the commission. It is deducted from the proceeds of the sale and approved by the lender. All short sales are the same.

Comment by Jean Costanzo on August 8, 2014 at 12:27am

ss_addenagentcert.pdf

I just received this BoA Short Sale Real Estate Licensee Certification form and #1 says BoA is NOT paying the commission Is this because actually the seller is ?   Thanks Jeannie 

Comment by ElizabethWeintraub00697006LyonRE on July 16, 2014 at 12:42pm

Yes, there is another document. The ATP is only the beginning. It means the seller is approved to participate in the short sale but the bank now needs to approve the offer. It will take another 4 weeks to 4 months to get the approval letter.

Comment by johnna lodge on July 16, 2014 at 9:53am

what is the actual verbage for an approval for the short sale? i have an atp but i was wondering if there was another document i should have received.

Please advise,

thanks,

Johnna

Comment by Paola Martinsen on April 28, 2014 at 4:45am

Hello--does anyone know if the FHA welcome packet that is on this page is the most current one?

Comment by ElizabethWeintraub00697006LyonRE on April 25, 2014 at 7:32am

Where are they gonna get the money to pay a CPA? I guess they could take it out of their mortgage payment and just not pay Bank of America that month. That would work.

Comment by Melissa Polce on April 25, 2014 at 5:30am

"QUICK HEADS UP! A Short Sale client that is self employed- CAN NO LONGER DO THEIR OWN P&L...it must be done by a CPA, on Letterhead-Per BOFA Yesterday...this is brand new and being enforced...YES-even if your client does their own taxes and own book keeping

Melissa Polce, Broker NC & SC

704-450-4335

Comment by ElizabethWeintraub00697006LyonRE on February 27, 2014 at 7:38am

It is possible the investor is no longer Bank of America. I have not encountered a situation in which B of A sold the servicing but retained the loan. This sounds odd. I have done short sales with Fay Servicing. Attached is the TPA you will need.Fay%20Servicing%20TPA.pdf

Comment by Rich Madden on February 26, 2014 at 10:01am

Yes, just closed one with Fay last month. They were awesome to work with! best # 630-282-7589 - email me if you need more

Comment by Erik Reilly on February 26, 2014 at 8:15am

Has anyone heard of Fay Servicing?

I started a cooperative SS w BoA that was service released to them.My seller agreed to the co-op because it had an incentive and did not require a million docs. I had the seller look up his loan on MERS website to see who the investor was and it said it was BoA.

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