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New Bank of America Short Sale Escalation Guidelines
Bank of America Short Sale Escalation Guidelines
Bank of America, N.A., Member FDIC Equal Housing Lender © 2011 Bank of America Corporation. Some products may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Bank of America and brokers are separate entities; each is independently responsible for its products, services and incentives. AR23G621
Short Sale Escalation Guidelines
To Consider BEFORE Escalating
Several factors contribute to the timeframe of a short sale. Bank of America uses the Equator short sale processing system. Equator is a task driven system and each task has a specific deadline. Agents must educate themselves on the process and review the tasks and messaging in the system to assess the progress of the transaction.
Before submitting an escalation, agents need to ensure they have exhausted the following resources: – Contact the assigned Short Sale Specialist through a message in the Equator Short Sale Processing System and allow at least two business days for a reply – Contact the team lead through the Short Sale Processing System (Equator) and allow at least two business days for a reply – Contact Bank of ... more
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