Coaching
From REO Trans to Equator: A Mighty Morphing Platform
Coaching
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Coaching
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Coaching
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Dawn
May 5, 2010 at 6:09 am
Equator is a wonderful platform, however I have a Bank of America short sale I am working and since the seller has a FHA loan, it can’t go through Equator. So unfortunately it is the same old Bank of America “no we didn’t get one of the pages that were faxed with the other 22 you sent that we do have” song & dance.
Justin Boland
May 6, 2010 at 10:41 am
There was a long and very entertaining thread on Active Rain where an Equator rep asked people for feedback. I left a few questions, and thus had all the replies sent to my inbox, and I quickly realized something that…well, it didn’t shock me at all: they were simply deleting the negative feedback. Not abusive, not profane, just people who were authentically frustrated with the system and listed the reasons why. I was getting these messages in my inbox, but they were deleting from the blog itself. (I was also seeing much angrier “why did you delete that??” follow-up messages, too, which obviously didn’t get to stay up for long either.)
Nick Reuter @ Short Sale Artisan had to work for two weeks to get a simple answer out of them about the existence of API tools. They were deleting his question!
I contribute this because I think it says a great deal about their approach and their interest in ANY of our feedback.
Buyer
August 31, 2010 at 2:26 pm
Equator as a software solution is buggy and lacks critical features. I develop software solutions for a living and happen to be a potential buyer in a short sale transaction and have witnessed multiple deficiencies with Equator.
* Once the transaction details are entered, there is no way to go back and correct or change any of the data entered.
* Automated workflow processes that are supposed to take place within hours take days instead.
* Uploaded files nearing completion have simply disappeared, requiring agents to completely start over again with the process.
It is remarkable to me that one of the Planet’s largest banks uses Equator when it is so buggy given the astronomical costs they must be incurring. Amazing!
Hugo Albert
March 2, 2011 at 5:48 pm
Do you know what the solution to solve this issue is. Currently I know of 3 agents including myself whose transactions have dissapeared several times. Since they started dissapearing from equator we have not been able to close any transactions at all with Bank of America. I have spent months trying to contact many departments at B of A as well as Equator and no one seems to know the problem. They all tell you to initiate the transaction again but it is no help. Contacted an attorney he said he cannot help.
Melissa Zavala
March 2, 2011 at 7:43 pm
One thing that I would pay attention to is the due date for a specific task. Many tasks in Equator have due dates. If you do not meet a due date, the file can be closed. I’m not sure if that is what happened in the situations you describe, but I have heard of similar situations and it was an issue with the due date. Hope that helps.