Uploading additional Info on EQUATOR.

I just started to upload Pictures, CMA's, BPOs and whatever I can get my hands on in Equator, since BoA is the most unbelieveale, unreasonable of all!!!! has anyone done this? does it make a difference?

I took it as an advantage since they don't care what we say but what the "BPO" says FMV is, if I can show them the BPO was wrong in their decission for Market Value, by showing them actual damage or decline in market, maybe and maybe they they will see that this agents probably did not take the time to actually do a thorough research. I am really hoping this makes a difference in the Negotiator's eyes......

If we did this on all our packages, there would not be any need for BPO, except maybe to confirm our findings. I do BPO's and I actually resaerch well to determine what FMV is, this a pre-foreclosure market why are agents still doing things the old way? pricing properties as if the market was a stable one, to me that is a joke ( sorry sellers) but these agents should probably not be doing BPOs, they are helping no one but complicating things for the market to resurface. $30.00 to mess things up? I wonder what kind of people is this that do not know the current market.

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  • I've closed many BOA SS, 2 of the thru Equator and they do not counter all offers. The last 2 I had, they countered 1 and accepted the other one. The one they countered, I knew was going to be countered from the beginning.

    There is a section that asks for you to upload a copy of the listing, you can print the MLS out as well as CMA and scan as 1 file. That way it will upload your CMA as well.
  • Hi. I uploaded my comps on my listing when I uploaded to Equator. They never asked me for anything. Its been two months and I just got a counter offer.
  • I list and close short sales and yes, BOA is an issue. I just had an offer rejected by BOA Equator due to "price to low" So buyer paid for and had an apprasial done -we uploaded it and resubmitted..it went thru. Please note: All BOA had done to establish FMV was to have a "drive by" BPO done. This home needed many repairs from the pool to leaks! We must keep thinking outside the box on these.
  • She can load it in ...any other supporting documents section...I hear no matter what they will just counter offer any offer...I am getting bored of these, give me any other lending institution, and I think we all should write the new CEO!
  • Ray I agree with you, when I call I ask are you qualified to help me with Equator? If you are not, which has nothing to do with you, is just that we all are learning and rather than get the wrong info maybe you could transfer me with someone that maybe has more experience, I know I dont so don't feel bad about it! usually they take really good and transfer me but the cool part is that if they dont know and you have a pending foreclosure, they will submit the request for you to compensate for the lack of information.......Again this is ONLY my experience, don't mean that this happen all the time, hope my comment help any one.....
  • Ok guys since my last post this is what I have encountered......Fiirst of to answer Wendy's question, yes there is no section for BPO or CMA what I do Is just upload in the property section....you will not belive me but I submitted 2 short sales about a wek ago and tey went from stage 1 to stage 4! did my pictures help? I have no idea but I know I already save at least 2 months.....I will have to get to you on that one because I am not sure why they did that.....I called the bank and all they told me was that I was on the final stage for review, they did not need anything from me......................the most amazing thing was that I never sumbit a package, just the authorization letter and the offer.......this was like Disneyland to me........we are all new, has any one experienced this?
  • What upload section do you do that? There is no labeled section for CMA or BPO.
  • Elizabeth,
    Well there are many factors about this whole enchilada, but I agree with you, BOA it is pain and a nightmare to work with, they don't know what they are doing, they don't know even how close some of their transactions. I'm starting to get concern that main problems come from Frannie Mae and Freddie Mac investors if this is the case. I have several short sales on process and they are taking so damn long, it does not matter how complete your send the short package and the follow up that you do.


    I'm telling you, some lenders employees they don't have a clue how to do their work and how can help when they don't have the right short sales process foundation.
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