The group this week hit a milestone I wanted to welcome all the new members and thank the first members for their posting of comments and keeping the group active and growing.
This group is to discuss Bank of America properties with Bank Of America and to share solutions to getting more business with Bank of America or getting in the door with Bank of America and to stay up to date on their requirements.
Website: http://reopro.ning.com/group/bankofamerica
Members: 103
Comments
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I have someting of Maybe of interest. A client of mine had his property taken back from Back of America well over a year ago. Nice duplex in Del Mar, Ca. Anyway BOA owned it for a year. Allowed the property to become a rat hole. Weeds, vines growing so thick, it pulled down the neighbor's connecting fence.
Then guess what:0) They deeded the property back into my clients name. He's been working for a month trying to weed his way to the front door!
I have posted what I am aware of with Bank of America and how to go about getting in with them. If you check with them they will say you need to have an Equator account. They select agents from that database. I have heard however from many REO Realtors that there is another process that has existed for sometime going back to Countrywide days.
Please see comment on this very topic from a fellow member.
Dear Eric,
Thank you for your information Eric. I did finally get a loan officer to put me in, but I recently went to a NAHREP conference here with 5 big banks there. One of them was BOA, and the gentlement did say they are not opening up to any additional Brokers due to the current Brokers are up to only 30% load of properties. I also heard from others banks that their forclosure rate has gone down, and with the short sales and mods going in, there is an abundance of that growing. It appears things are winding down abit. Do you agree? Again thank your for your feedback. I will take that in account, because I did email this loan officer and she did not get back to me yet.
I am trying to figure out the steps to get in the door with BOA as a direct agent. I was an agent through LPS and Corelogic and also had done some direct work in the past couple of years but I do not know where to go to check to see if I am still an active agent and if not where do I go and who do I contact