Bank of America: What do I need to know about my automatic email status notifications?

BAC Home Loans Servicing, LP., or Bank of America, wants you to know what all those auto responders mean. In a recent email sent out on August 17, 2010, BAC sent a message about the changes that had taken place over a month ago on July 15th to their partner’s website (Equator.com). It goes into explaining in little more in depth (literally just a little — email below for your own review (post your thoughts in the comments)) to explain the different stages and what is supposed to be happening at that point in time.

I only say, “supposed to” because it just can’t be a coincidence that everyone has problems with them. We have been assigned a team specifically to manage over all the problems for the processing of our short sales in bulk. Frequently they are forced to have to jump into the Equator system to make changes or even go as far as assigning themselves as the negotiator.

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Bank of America is committed to providing excellent customer service throughout our short sale process. As a valued partner, we want to ensure you are kept informed on the status of each transaction.  On July 15, 2010 we launched four new automatic email status notifications that will be sent once key milestones or tasks have been completed in the traditional short sale process:

• Awaiting Valuation: Sent once the agent has successfully completed the document collection phase
• Awaiting Analysis: After the valuation has been successfully uploaded to the short sale management system
• Awaiting Decision: After the file is ready for investor reviews
• Awaiting Decision follow-up: Follow-up message to be sent while investor approval is pending

These messages will complement the status information that agents can already view when they log in to the short sale processing system.

If you have any additional suggestions on additional enhancements to keep you and our customers informed, please let us know.  Thank you for your continued partnership with Bank of America.

Sincerely,

Short Sale Department

Home Loans Servicing

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Loss Mitigation Advocates @ Absolute Consultant Group

MLReport.com started in the Loss Mitigation industry in early 2000's. We worked for the one of the largest loan servicers in the US in their loss mitigation/foreclosure department. Speaking with approximately a work flow of several thousand cases a month and several years of experience they created an organization dedicated to helping homeowners. Our Goal here is to increase the accuracy and awareness of loss mitigation information found on the internet while creating a forum for homeowners and professionals alike to find the information on up to date mortgage servicer/lender guidelines. — MLReport Management Have a question? Call us 888-934-3444

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