June 18, 2018

BofA to Host Webinar on Short-Sale Changes

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BofA to Host Webinar on Short-Sale Changes

Bank of America will be hosting a webinar on Jan. 27 to highlight the bank’s recent changes to its loss mitigation process for real estate professionals who do short sales.

The webinar will cover the bank’s new streamlined financial document collection process. Customers will now be required to submit a single package that includes all documents required for all loss mitigation options that they qualify for, including loan modifications, short sales, or deed-in-lieu. The webinar will also cover changes to the evaluation process.

“A short sale record will be automatically opened if the home retention evaluation indicates the customer does not meet eligibility requirements to retain the property,” according to a news release. The bank also says it will improve its communication, and that following the evaluation, it will provide home owners with one notification that lists all options and programs that the customer is eligible for.  

To register for the webinar, visit Bank of America's website, or you can review the bank’s changes at its Short Sale Agent Resource Center page

Source: Bank of America

Read more:

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Short Sales Ethics: 6 Temptations to Avoid
Are Short Sales Becoming a Thing of the Past?