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Equator

This group is to discuss the Equator Short Sale System, as well as any Short Sale and REO programs through Equator (formerly REO Trans)

Website: https://www.equator.com/
Members: 614
Latest Activity: Apr 25, 2014

Find a local Equator short sale specialist Realtor experienced with the Equator short sale system to process your Bank of America, Wells Fargo, GMAC or Chase short sale without cost


Equator Short Sale Processing System

Equator (formerly REOTrans) is now the system used to process short sales for most Bank of America Files. GMAC uses it as well, much more successfully than Bank of America. Currently GMAC short sale files are entered into the Equator short sale system by GMAC themselves.

Here are some general instructions for the system:

Bank of America Equator Short Sale Guide for Agents

You should initiate the short sale at www.Equator.com

You must obtain the following (and more) for each buyer to enter into the Equator system:

(I know, its a pain in the bottom!)

First five digits of social security number
Date of birth
Telephone number
Address

You will need the following for the buyer's agent:

Email Address
Company Mailing Address

You will need the following for the loan:

Interest rate
Lender contact info

In addition, your seller must call 1-866-677-2516 to get a password sent to them so them may log in to https://shortsale.bankofamerica.com

They will answer several security questions and upload their financials documents on the site.

Equator Help number 310-469-9167

For GMAC Short Sales with Equator Short Sale Processing System - for Short sales with GMAC, they required that all documents be send directly to them, then they enter them into the Equator system and initiate the short sale process on the system themselves. You can also visit the GMAC Short Sale Group for information on their processes.

Discussion Forum

Titanium and short sales

Started by Harold Michael Jones. Last reply by Mike Linkenauger Apr 27, 2012. 4 Replies

I left Titanium over a year ago. After going through an assignment, I was asked by the owner to list it as a short sale. I informed Titanium, asked for the BPO to be forwarded to the lender and…Continue

Has anyone upgraded to Certified Status??

Started by MeLisa Minter. Last reply by Davey Miller Apr 10, 2012. 20 Replies

Hello, I signed up with REOTrans last Summer as a basic member. At the time, they didn't have the certified status'. Now I've learned that if you become certified, your profile will be viewed first…Continue

Equator technical Problem

Started by Karin Christa. Last reply by Karin Christa Sep 14, 2011. 2 Replies

Recently (last week) I was contacted by 4 agents who had either had approvals from BofA or Counter Offers - and all submitted the necessary documents/tasks. Only to get a declined notice a couple of…Continue

Another horrible problem with Equator

Started by JILL BERNI. Last reply by Joe Beauchamp Aug 3, 2011. 5 Replies

I just had a disturbing talk with Ronnie Harris that everyone needs to know about.Equator assigned my short sale request to him on July 18th. Equator send me emailsasking for the authorization, offer…Continue

Offer status in Equator is noted at "Held" (pink).

Started by Sam Owens. Last reply by Harold Michael Jones Apr 13, 2011. 9 Replies

I have uploaded my offer and completed all tasks assigned to date.  After checking the status today the offer is noted as "Held"  Any ideas?Continue

REO GROUP

Started by Sherri Elliott. Last reply by Muhammad Mushtaq Jan 30, 2011. 15 Replies

I am looking at starting an REO Group or joining one if any of you need and agent from Dallas,TX. I have several agents in my office who do a ton of REO business, and have Fannie, and Freddie…Continue

Tags: Dallas, Elliott, Sherri, Group, REO

Bank of America HPO Short Sale Program

Started by Dan Hawkins CRS SFR CSSG CDPE. Last reply by Lillian B Smith Jan 8, 2011. 11 Replies

There is a brand new program at Bank of America called HPO fast tract Short Sale.No documents submitted, appraisal ordered right away and you get your own person with their personel efax. I do not…Continue

List agent has submitted offer incorrectly 3 times

Started by Jessica Gocke. Last reply by Joseph C. Alfe Dec 22, 2010. 1 Reply

I am a buyers agent. I have worked with equator as a sellers agent before. Now I am representing a buyer. I submitted an offer on a Bank of America loan REO that is owned by Bank of New York Mellon…Continue

Tags: of, bank, america, new, mellon

Comment Wall

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Comment by Karin Christa on July 28, 2010 at 11:20pm
Bryan, I just had the same situation - my 1st buyer got cold feet and I submitted a new buyer's PA to the same negotiator. I will call her tomorrow and find out if she will accept it without having to upload the whole file again. It depends on the negotiator. It worked for me once before - better call the negotiator and find out.
Comment by Bryan L Dais on July 28, 2010 at 11:14pm
Is it the same for a BAC 2nd as for a first? I have the same situation, but BAC has approved $3k for the 2nd. Not like their gonna get more money on the new offer. I have been getting mixed messages on whether to have them close it so I can initiate a new one, or attach the new offer to a message to the negotiator first.
Comment by Andy Morris on July 28, 2010 at 9:52pm
yep i found this out the hard way several times... things like that cause a lot of extra work...
Comment by Dawn Barrier on July 28, 2010 at 8:37pm
Jacob, I agree with Julie, Unless something has changed in the last few days you will have to start over. Just get all your task done asap and neg should be able to use current value, etc... Good Luck
Comment by Julie Vrigian CSSG, CSSP on July 28, 2010 at 3:23pm
I had a similar situation and unfortunately, they are likely to start over. You can notify the current negotiator to see if they will allow you to substitute.

More than likely you will have to initiate a new short sale and start the process over...Sorry for the bad news.

If you find out a different way to do it, please let me know.
Comment by Jacob Wiggins on July 28, 2010 at 3:16pm
Hey in Equator, I have a buyer that has fallen through, but I have a backup offer at the same price that Equator has been in the process of approving. How do I put this buyer in place, instead of having to start all over again? Please let me know anything
Comment by Karen Hulbert, Woodland CA on July 20, 2010 at 8:13pm
Another one I submitted in Equator on a Sunday night had a negotiator (named not generic) assigned and a BPO ordered within 3 days. By the 1 week date the BPO was in and I rec'd an email saying we have everything we need we are reviewing the numbers.....
So looks like they have again stepped up their response time. Good news!
Comment by Karen Hulbert, Woodland CA on July 20, 2010 at 8:10pm
They sent me a new approval with the lower amount without negotiations...they just filled in the columns on the worksheet. But the close date was not changed and they sent the letter on the close date. But we will get it done.
Comment by Julie Vrigian CSSG, CSSP on July 7, 2010 at 10:53pm
I forgot, I would also email the negotiator on the file as well.
Comment by Julie Vrigian CSSG, CSSP on July 7, 2010 at 10:52pm
Hi Karen,

My experience with equator has been that when the appraisal comes in lower, I just upload the requested documents and note that the appraisal came in under the offer. They should then ask you to upload those documents or they may even contact you.

They should honor the appraised value of the property. I would like to hear how this turns out for you.

Good luck!

Julie
 

Members (613)

 
 
 

Discussion Forum

Titanium and short sales

Started by Harold Michael Jones. Last reply by Mike Linkenauger Apr 27, 2012. 4 Replies

Has anyone upgraded to Certified Status??

Started by MeLisa Minter. Last reply by Davey Miller Apr 10, 2012. 20 Replies

Equator technical Problem

Started by Karin Christa. Last reply by Karin Christa Sep 14, 2011. 2 Replies

Another horrible problem with Equator

Started by JILL BERNI. Last reply by Joe Beauchamp Aug 3, 2011. 5 Replies

Offer status in Equator is noted at "Held" (pink).

Started by Sam Owens. Last reply by Harold Michael Jones Apr 13, 2011. 9 Replies

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