Bank of America short sales have changed
East Valley Team memberDean Ouellette talks about how the horror stories you hear about Bank of America short sales are mostly from the past.
Not long ago I did a few videos on Bank of America, how bad they were, how slow they were and how they could help themselves. If you find one of those old videos somewhere on the interwebs, just hit next.
Bank of America has changed their short sale systems and it shows. Matt Vernon has done a great job making the Equator system they use streamlined and efficient. No longer do you hear “sorry lost your file please send again.”
Kristin and I had one short sale that we thought was going to be a problem child. Just 22 days later Bank of America short sales department countered with some very minor changes to title fees and we had an approval.
Bank of America has done a great job improving their system. Now if we could get Matt Vernon over to Chase to get them in line short sales may become much more streamlined all around.
Who says you can't teach a rocket scientist new tricks. Since Kristin left her former profession for her new one she has built one of the fastest growing businesses in the East Valley. Kristin is known for her Youtube videos, make sure you check them out. 
After a long career in political consulting Dean transitioned to real estate and has not looked back. Dean is one of the sick ones who enjoys fighting with banks to get short sales approved and to help homeowners avoid foreclosure. Dean also loves making videos on the subject.
I think Jas has a love hate relationship with Equator- it is great that there are no more lost files, that sure as hell beats me sitting in front of the fax machine or overnighting huge short sale packets a million times.
However it has been like pulling teeth to get this one negotiator to reply to anything (either through equator or via regular email)-Jas is constantly having to escalate in order to “nudge” her to reply and when she does it seems the issue is always out of her hands and nothing she can do about it but wait. She seems more like an unnecessary middle man at this point especially if she has no power at all regarding anything.
Great changes on the file handling end so let’s see some changes on the communication with the “investors” end now.
People should not have to wait until the 11th hour to find out if their foreclosure has been extended while a current offer that has been with the investors for MONTHS is being considered-so there is still a feeling of the right hand has no clue what the left hand is doing at times.
Dean, like you, I just got an approval in 23 days! I hadn’t been pushing the second too hard because I thought Bank of America was going to take much longer!
Jessie – request twice, escalate to manager twice (allow 48 hrs for both) & then I have Matt Vernon’s email if you need it. He was out of town when I emailed him but his assistant contacted me immediately and had the file re-assigned and taken care of within 24 hrs.