Mortgage
Latest changes to the Bank of America short sale process
When processing short sales, it’s important to know about how each of the lending institutions handles loss mitigation and paperwork processing. If you have done a few short sales in Equator with different lenders, you may see what while your same Equator account is used for all your short sales at all the lending institutions, each of the servicers uses the platforms in a different manner.

Mortgage
Mortgage application volume falls 8.1 percent in one week
Mortgage application volume fell last week, even accounting for the federal holiday, as certain interest rates jumped up a bit in the same period.
Mortgage
Mortgage application volume surges in second week of 2013
Mortgage application volume in the second week of the year jumped, led by new mortgage applications, a healthy sign for housing and buyer interest.
Housing News
Fiscal cliff uncertainty means new low for mortgage rates
While mortgage rates have remained low in recent years, mortgage application volume rose last week as rates hit a new low, resulting from uncertainty over the fiscal cliff, according to the MBA.
-
Opinion Editorials1 week ago
Declutter your quarantine workspace (and brain)
-
Opinion Editorials1 week ago
Minimalism doesn’t have to happen overnight
-
Business News2 days ago
Everyone should have an interview escape plan
-
Opinion Editorials1 week ago
Online dating is evolving and maybe networking will too
-
Business Entrepreneur3 days ago
Small businesses must go digital to survive (and thrive)
-
Tech News2 days ago
How to personalize your site for every visitor without learning code
-
Tech News2 weeks ago
4 ways startups prove their investment in upcoming technology trends
-
Business News1 day ago
You should apply to be on a board – why and how
Roland Estrada
May 15, 2012 at 3:33 pm
It always seems like one step forward and two steps back these. The buyer replacement process reminds me of a Seinfeld story about a rental car – “You know who to take the reservation, you just don’t seem to able to HOLD the reservation.” If you lose a buyer, the banks need to able to HOLD the reservation. When you get a new buyer, all things being relatively equal, you should just be able take up where you left off. The red tape is horrendous. I’m dealing with a credit union right now and lost a buyer. However, the new buyer should have an approval and be ready to start closing in couple of weeks.
I get back to same old commentary. The Feds needs use an iron fist with the banks give them all a clear standardized process. If they don’t comply, the get heavily fined and quickly. And the fines continue until they do comply. I know this a rant but it frosts me because the process puts buyers and sellers through unneeded extra stress.
benjaminficker
May 15, 2012 at 6:15 pm
As with most “New” bank programs, I’ll believe it when I see it. B of A also, just launched a new program today similar to CHASE where they are offering up to $30k to the homeowners. Again though, when the results start happening, then I’ll believe it.
calsrfgrl11
May 16, 2012 at 1:48 am
@ask_wellsfargo Just entered into a short#sale process with @WellsFargo as a buyer. I have high hopes for a speedy response. So far…Offer accepted by seller 5.10.2012. Paperwork sent to WF 5.11.2012. Will update the timeline to track short sell process.