Washington Report

Advocacy Updates from Washington D.C.

Bank of America Implements Short Sales Change

April 11, 2012

On April 14, 2012, Bank of America will implement new procedures for completing short sale transactions through the Equator platform. With the continued development of its online transaction portal to communicate with borrowers and authorized 3rd party advisors, Bank of America has taken steps to reduce the amount of time to complete short sales by performing underwriting and valuation tasks while agents collect required documentation. Agents and brokers performing short sales through Bank of America's Equator system will notice important changes that will affect the initiation of short sale transactions. Agents and Brokers should visit Bank of America's real estate agent resource center for additional information.

Real Estate Agent Resource Center

Training and Short Sale Webinar