Hot off the press (who actually receives a paper newspaper anymore?) is this latest news alert with respect to short sale processing at Bank of America.
It seems that Bank of America has now decided that they would like to use their own third-party authorization form when processing a short sale.
According to Bank of America, “Previously [we]… accepted Third-Party Authorization forms in differing formats and from a variety of sources when transacting a short sale. Recognizing the greater need for compliance and consistency with this important document, [we have]… now developed [our] own form to standardize the process.”
The press release also notes that this new document will be required effective April 14th, yet it seems that some of the negotiators are already requiring it for the processing of short sales.
Here is a link to the new form and, of course you can always download this form and all other important short sale processing forms from the Short Sale Expeditor® member’s arena.
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