UPDATE: New Requirement for Bank of America Short Sales
In October’s CDPE Industry Broadcast with Bob Hora, SVP Mortgage Servicing Executive at Bank of America Home Loans, Hora affirmed Bank of America’s commitment to streamlining their short sale process.
In keeping with this commitment, Bank of America is simplifying their third-party authorization process for short sales.
On March 20, Bank of America released a standardized Third-Party Authorization form to be used on all Bank of America short sales beginning April 14, 2012.
For CDPEs, we’ve uploaded the two-page document to the Resources section of the website. Just login, and go to: http://www.cdpe.com/resources/view/906/BofA3rdParty
Or you can download the form from Bank of America’s Agent Resource Center at http://www.bankofamerica.com/realestateagent.
Bank of America will accept other forms until April 14; however, we recommend implementing the form on your next Bank of America short sale!
For those of you who are CDPEs, you should continue to use the “CDPE Short Sale Authorization to Release Information Form” with home owners’ associations, second lien holders, or anyone else you need information from as our contains information specific to those types of organizations.
To watch a recording of CDPE’s exclusive industry broadcast with Bank of America, visit http://www.cdpelive.com/111026-bank-of-america/.