Bank of America Short Sale Changes Effective April 13, 2012.
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Transcript of Bank of America Short Sale Changes Effective April 13, 2012.
![Page 1: Bank of America Short Sale Changes Effective April 13, 2012.](https://reader035.fdocuments.in/reader035/viewer/2022062417/55169386550346f0208b479c/html5/thumbnails/1.jpg)
Bank of AmericaShort Sale Changes
Effective April 13, 2012
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Required Forms for Short Sale Initiation
• 3rd Party Authorization Form• IRS 4606-T• 60 day Estimated HUD• Signed Purchase Contract with Buyer’s
Acknowledgment and Disclosure• B of A Purchase Contract Addendum
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3rd Party Authorization Form
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B of A Buyer’s Acknowledgement and Disclosure
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Short Sale Purchase Contract Addendum
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Short Sale Real Estate Licensee Certification
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Changes on April 13, 2012
• Any files without all five required submission items may be declined and will be required to submit all five items to reinitiate short sale.
• Back-up Offers will have 5 days to be submitted if buyer backs out before having to start process over.
• Authorization forms can only be used by licensees (no non-licensed assistants).
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Additional Changes to System
• Secure Messaging only for Protection of clients information. No emails directly.
• Escallations after 2 days without response go to team leader.
• Exact Name match on all documents• Negotiator can order BPO’s and other required
Documents concurrently
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Upcoming Training Webinar
• April 19, 2012 4-5PM Eastern Standard Time• BankofAmerica.com/RealEstateAgent • Customer Service 866-880-1232
M-F 8AM-10PM Eastern Standard Time Sat. 9AM-5:30PM Easter Standard Time