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BOA Leading Short Sale Approval??

By Scott Petersen

Real Estate Agent with Client First, Realtors - Canton, MI

April 25, 2012 01:20 AM

Short Sales have become the new norm in this market, and Bank of America is a major player in this market. I was shocked to read that BOA is leading the way in Short Sale approval according to Bloomberg. I can honestly say that I have not experienced an easy or fast short sale approval with BOA. I hope that this report is accurate and that all lenders will follow an easier path to short sale approval.

"BOA approved 5,276 short sales in January, topping JPMorgan Chase & Co. (JPM) (JPM), with 2,976, and Wells Fargo & Co. (WFC) (WFC), the biggest home-loan originator, with 2,788, according to a report today by RealtyTrac Inc...."

“Bank of America has done almost as many as numbers two and three combined,” Charlie Engel, a RealtyTrac vice president, said in an online presentation today. “Combine the top three and you’re looking at the vast majority of short sales right now.”

Bloomberg Business Week

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John Manuwal

Keller Williams Northwest Montana - Kalispell, MT

Kalispell Montana Agent and Photographer

I had to seen that BofA was in the lead. I have not seen that in my dealings but then again they do have a lot of homes that they have their hands on so it would make since that they lead since they have the most to get rid of. Would be nice to know who leads in the best ratio of homes vs short sales.

Apr 25, 2012 01:29 AM

Dan Hopper

Dan Hopper - Gold Way RE - Westminster, CO

Colorado Broker / Referral Services

Those have been the rankings we have seen for the last few years. We just have to remember that BOA and Wells Fargo did inherit Countrywide, Wachovia, and Washington Mutual.... and Taylor, Bean, Whitaker, as well.

Apr 25, 2012 02:12 AM

BOA Leading Short Sale Approval??

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