Q. When working an existing Short Sale property, do I need to re-do tasks I have completed outside of the Equator platform?
A. It is necessary to complete all assigned tasks within the Equator Workstation. Any tasks that were completed outside of the Equator Workstation will need to be completed in the Equator platform if requested. This is an audit requirement from the Lender or Servicer and includes uploading all of the Borrower/Home Owner financial information and all offers.
Q. Why have I not been assigned a Negotiator?
A. Many lenders do not assign a Negotiator until late in the process when all necessary Borrower/Home Owner financial information and valuations have been received. Until that time, the “name” of the negotiator remains “generic” in the system. Messages sent to this generic negotiator will not be received by a live person. Instead, contact the Lender directly for assistance. Only the Lender or Servicer can make decisions on Short Sales.
Q. What is required from potential Buyers?
A. Each Lender has unique requirements about what documents and information they need. Please check with your Lender or Servicer for any questions you have regarding the forms and information that are required.
Q. How are Short Sales managed and approved?
A. The entire Short Sale process is managed through the Equator software application; however, all decisions related to the Short Sale, such as Accepting Short Sale requests, Reviewing Offers, etc., are made by the Lender or Servicer. Any and all questions about the business aspects of the Short Sale process should be directed to your Lender or Servicer. Equator makes no decisions nor has any information on the status of the Short Sale process (including acceptance of an offer).
Thank you, and come back next week for more tips, tricks, and information!
Comments(0)