Important changes to loss mitigation process of Bank of America

Bank of America real estate professional webinar series is one of the ways they stay better connected with their agent community. The upcoming webinar will provide information that helps you better serve your customers. These sessions include time to respond to the questions you provided in advance.  They will host next session on Monday, January 27 with a focus on servicing standards.

Topics that will be covered:

Earlier single point of contact assignment: Customers will continue to be proactively assigned a Customer Relationship Manager (CRM).

Streamlined financial document collection process: Customers will now submit a single package that includes all documents required for all loss mitigation options (including modification, short sale and deed in lieu) for which they may qualify.

Comprehensive evaluation process: A short sale record will be automatically opened if the home retention evaluation indicates the customer does not meet eligibility requirements to retain the property.

Improved communication: Upon completion of the evaluation, Bank of America will provide homeowners with one notification that will list all options and programs for which the customer is eligible.

Q&A: They will answer questions that you submitted during the registration process.

The updated Short Sale Agent Resource Center has educational guides dedicated to all of the above topics.


Bill Borda

Senior Vice President, Short Sale/Deed in Lieu

 Time:     1 – 1:30 p.m. Pacific

              2 – 2:30 p.m. Mountain

              3 – 3:40 p.m. Central

              4 – 4:30 p.m. Eastern

Register now

Absolute Consultant Group 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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