If you are looking to buy a short sale or sell your property via a short sale and have one of the following lenders:
Bank of America
Wells Fargo
ASC
BSI Financial Services
Nationstar Mortgage
You should know that they allow your real estate agent to initiate the short sale process within a matter of 30 seconds or so. All they have to do is fill out a form with the loan number your name and a few other items. Once they do this, all you have to do is provide your real estate agent with an authorization form that allows them to speak on behalf of your account and you will be well on your way to getting your short sale process started.
What is Equator? In a nutshell Equator is: a short sale module that automates the entire short sale process for mortgage lenders and real estate professionals. It enables the Servicer to lower loss severity and the cost to service loans by automating the workflow and improving connectivity with Agents, Borrowers and Vendors.
Make sure your real estate agent is aware of equator and that the first thing you do is give them an authorization form allowing them to work with your lender and that they initiate your short sale through equator if your loan is with one of the mortgage servicers that was mentioned above.
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