CO-OP Short Sale Guideline Update Bank Of America has updated their guidelines in regards to their Cooperative Short Sale program and foreclosure sale date holds. How will this affect transactions? Many agent’s often have offers on the table, but will not...
Third party vendor ServiceLink Short Sale Third party vendors are brought on board by mortgage servicers at times for assistance with servicing loans and collections efforts. ServiceLink has primarily been a third party vendor for IndyMac who is also known as One West...
Service Release Error – False Alarm Lately everyone in the mortgage industry is experiencing or has at least heard about that Bank Of America servicing releasing a large volume of their loans. All appearances show that Bank of America is doing everything...
What is a Customer Relationship Manager? Customer Relationship Manager’s also known as a “CRM” are assigned to the loan accounts at Bank of America for customer assistance. Almost all mortgage servicers have representatives similar to a Customer...
Short Sale Service Release Bank of America has and will continue to release pools of loans. No loan is safe from a short sale service release even if the short sale is already approved. This seems to be even more interesting because the lender the file is going to...
FHA Loan Modification Review Before A Short Sale When encountered many people will ask “is this a new policy?” The answer is no, this is not a new policy and it has been a requirement by HUD for all FHA loans. HUD guidelines require that all borrowers be...
