Information

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

Comment

You need to be a member of Equator to add comments!

Comment by Angela Alfe on January 21, 2010 at 10:46am
I think one of the big clogs in BofA's Equator set-up is having you input the HUD data. It's actually confusing. Not all of the requests on that form match up exactly with the HUD form. The calculation seems to be off, as well. I would love to see how it is coded. LOL

But, here is one thing you all need to be aware of. Equator files are completely different from the "old way" files. Signing up on Equator to get "updates" is not happening. You have to start the file on Equator...you cannot go fax documents in and then sign up for equator for "up to the minute" updates. They are completely different departments and you will have 2 different negotiators working on the files and each will want 2 different things.

So, don't listen to the Customer Service Rep who tells you to submit your already "old" file through Equator to save time on calling in. It doesn't work that way...at least not at this time.
Comment by Mike Linkenauger on January 20, 2010 at 11:24pm
Just heard that from another agent as well Angela with a GMAC file. Good to know it is actually working! I wish BOA could be quicker, but I'm optimistic it will be eventually...
Comment by Angela Alfe on January 16, 2010 at 12:08pm
I've had 2 short sales approved through the Equator system. GMAC uses Equator, as well. With GMAC, the file was submitted, we had a BPO completed the same week, and a counter offer within 5 days of the file submission. It has not been as fast with BofA, but much faster than the old way of faxing all the docs in and praying that whoever is uploading them has had all of their morning coffee. :)
Comment by Mike Linkenauger on January 14, 2010 at 11:21pm
We finally had one yesterday where they gave us a counter offer form from the Equator system. It actually compared all of the amounts from the current offer in one column, and then their counter offer in the other. Here is the fun part! Today, after we send them back a buyer counter offer, we get a call from good old Titanium, Inc, saying that it is a Freddie Mac file and they have been assigned the file!!! We are seeing if we may be starting over from scratch on this one!! So in three months, we go from submitting to Bank of America, wasted time, submitting to the new REOTrans system, Now it getting reassigned the day after they finally start negotiating!!! Sounds like the good old bank of america system we know and hate!!
Comment by Tara Nagelhout on January 11, 2010 at 10:46pm
I signed up a few months ago. I didn't pay extra to be certified, but I do pay a bit for an extended profile or something. However, I am getting nothing out of it.
Comment by Mike Linkenauger on January 11, 2010 at 3:58pm
Has ANYBODY gotten ANY Bank of America Deals approved yet through the Equator system?? Let us know!!
 

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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