REO ALERT: Bank of America REO Holiday Moratorium 2011

ATTENTION REO AGENTS: As the holidays approach, Bank of America will comply with applicable Holiday Moratorium requirements to avoid causing emotional distress to the occupants of a property.

Evictions, relocation assistance (cash for keys) or lockouts should not be scheduled nor occur during the following Holiday Moratorium dates:

Dec. 22-26, 2011, returning to business as usual on Dec. 27, 2011.

For VA properties dates: Dec. 22, 2011, through Jan 2, 2012, returning to business as usual on Jan. 3, 2012.

If an eviction, relocation assistance or lockout occurs in error, the agent must escalate the issue by immediately calling the REO Customer Escalation Team. When a task or communication-related eviction, relocation assistance or lockout is generated or received during the dates noted above:

1. Notify the eviction specialist that a task has been generated or that a communication was received.

2. Wait for the eviction specialist’s response to determine the next proper action.

3. Complete the task or communication review as the eviction specialist advises.

4. Confirm that the task or communication review was completed per the eviction specialist’s direction.

NOTE: What do top REO listing agents know that you don’t? They know that a BPO is your Resume. Learn more by watching both these videos: (Merry Christmas!)

 

3 comments for “REO ALERT: Bank of America REO Holiday Moratorium 2011

  1. Alina Higgins
    December 23, 2011 at 4:39 am

    Dear Poncie,

    I just read your article in regards to Bank of American holding their work for Reo’s thru the holiday. Poncie, my question to you is, I have been trying to get in Bank of America’s Reo Division for years, I did get one loan officer to place me on their list so she says. How did you get in their network. I think my time is up with them since so many Brokers are in their network around my area.

    • December 23, 2011 at 10:19 am

      Hi ALina, Have you attended any REO conferences?? I recommend Networking with their representatives at these events. Are you doing BPOs? What’s your market area? BofA is also outsourcing their REOs. Apply to these companies as well.

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