Bank of America Listens, Updates Form

In April, Bank of America introduced some major changes to the way short sales are initiated. One of the most talked about changes is the new Third Party Authorization form.

On the form, Bank of America stated that only a licensed real estate professional would be allowed to do any work on their client's behalf. This caused quite a bit of concern for high-volume agents who have assistants who help with processing a file, and Bank of America got a lot of feedback about the new policy.

Last week, Bank of America amended the form.

The updated version includes an area for "Designated Representatives" from your team to be listed, which will enable them to communicate with the bank under your supervision.

The new form is available for download here: http://www.cdpe.com/resources/view/906/BofA3rdParty

Download the form today, and use it to open new lines of communication between your team and Bank of America.