Bank of America and its subsidiaries including BAC/Countrywide Legacy will be making some major changes starting November 16th. Actually as of that date they will begin to reissue new loan numbers to all its customers. That’s right! Everyone who has a loan with them, no matter what branch, will be issued new loan numbers. This is move in a direction to solidify the company and hopefully reduce the amount of running around everyone has to do.
Needless to say that hopefully this will help somewhat with all the new locations that have opened up for the BAC side of the company as many locations such as Tulsa, OK still do not have the programs that need (such as iportal and even access to procedures) and little experience to even back that up with as they have been there for only about a month. The troubling side is that these people with no seasoning are the ones that are the front lines telling people what to do and DON’T even get me started on the new REOTrans program where no one knows what they are doing!
Jonathan Katz started in the Loss Mitigation industry in early 2000's. He worked for the one of the largest loan servicers in the US in their loss mitigation/foreclosure department. Through a work flow of 600 cases a month and several years of experience he created an organization in 2005 dedicated to helping homeowners. Now he is taking the next step and putting out the information that even professionals will benefit from.
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