{"id":83,"date":"2016-04-05T05:57:36","date_gmt":"2016-04-05T05:57:36","guid":{"rendered":"http:\/\/162.244.70.213\/~shortsal\/misuniversity.com\/members\/?p=83"},"modified":"2020-12-23T21:50:48","modified_gmt":"2020-12-23T21:50:48","slug":"bank-of-america-boa-equator-program-and-counter-offers","status":"publish","type":"post","link":"https:\/\/misuniversity.com\/members\/bank-of-america-boa-equator-program-and-counter-offers\/","title":{"rendered":"Bank of America (BOA) Equator Program and Counter Offers"},"content":{"rendered":"

Mortgage Servicing<\/strong> Important Information Regarding Acceptance of Counter Offer Terms To:\u00a0Agents initiating a Bank of America Short Sale From:\u00a0Bank of America Short Sale CommunicationsRealtors have told us the better they understand the counter offer process, the more successful they are in closing short sales.<\/p>\n

The following facts related to the counter offer process are critical to closing short sales in Equator.<\/p>\n

Fact #1: Your acceptance of the counter offer terms does not mean the transaction is approved<\/strong><\/p>\n

Acceptance of the counter offer means that Bank of America will take the next step of presenting the transaction for approval to the investor.\u00a0 In some short sales, multiple approvals may be necessary from others including the second lien holder, mortgage insurer and Bank of America senior management.<\/p>\n

Fact #2: The terms of the accepted counter offer may be approved, declined or changed<\/strong><\/p>\n

Any of the parties reviewing the transaction can change the terms of the transaction, approve or decline it.<\/p>\n

Fact #3: The counter offer may have an expiration date<\/strong><\/p>\n

Please reply to the counter offer before the expiration date.\u00a0 If you don\u2019t reply by the expiration date the transaction will be rejected and you must restart the process by initiating the short sale and resubmitting documents.<\/p>\n

Fact #4: The counter offer must be accepted via the offers management tool in Equator<\/strong><\/p>\n

To accept the counter offer, go to the \u201cWorkflow\u201d section of Equator and select the \u201cOffers Needs Response\u201d link.\u00a0 Select \u201cCounter Offer\u201d and press the \u201cAccept\u201d button in the Counter Offer screen.\u00a0 You cannot<\/strong> accept a counter offer via an Equator email to your negotiator.<\/p>\n

Why understanding these key facts, you will be in a position to better help the homeowner complete a successful short sale transaction.\u00a0 For other questions you have about the short sale process and Equator, refer to our informational guide at the following link: http:\/\/bankofamerica.reo.com\/shortsaletraining ,,_ also great for searching bak owned REO\u2019s.\u00a0<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Mortgage Servicing Important Information Regarding Acceptance of Counter Offer Terms To:\u00a0Agents initiating a Bank of America Short Sale From:\u00a0Bank of America Short Sale CommunicationsRealtors have told us the better they understand the counter offer process, the more successful they are in closing short sales. The following facts related to the counter offer process are critical<\/p>\n","protected":false},"author":1,"featured_media":84,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-83","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/posts\/83","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/comments?post=83"}],"version-history":[{"count":0,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/posts\/83\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/media\/84"}],"wp:attachment":[{"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/media?parent=83"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/categories?post=83"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/misuniversity.com\/members\/wp-json\/wp\/v2\/tags?post=83"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}