3 Strikes You’re Out Rule – BofA REO Agents

Heads up REO Agents! As preferred Bank of America agents, we are responsible for ensuring that necessary precautions are taken to protect both customer and broker/agent information from the risk of exposure.

Non-public Information must NEVER be uploaded to Equator for REO properties. What is NPI???

NPI can include the information listed below:

  • Social Security number – Tax Identification Number (TIN) is not NPI
  • User ID/name/password
  • Income
  • Personal Identification Number (PIN)
  • Driver’s license numbers
  • Bank checking/deposit account numbers (including bank routing number
  • Credit/debit card numbers
  • Copies of checks
  • Proof of Funds letter with account numbers and account balances
  • Bank statements
  • FICO score
  • Date of birth
  • Medical records
  • Credit reports

Our performance scorecard may be negatively impacted if you upload information to Equator containing items that are identified to be Non-Public Information (NPI).

The following actions will occur if you violate this policy:

  • STRIKE 1: You will be notified of the offense by Bank of America and counseled on NPI policy.
  • STRIKE 2: You will be placed on a watch list and new REO referrals will be suspended for 30 days.
  • STRIKE 3: You will be immediately terminated.

For more information, visit the Bank of America Agent Resource Center or click [here] for REO Application info.

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18 comments for “3 Strikes You’re Out Rule – BofA REO Agents

  1. March 14, 2012 at 11:41 am

    We got tagged for allowing the last four digits of my checking account number to show up on on a electric bill receipt we submitted last year.

    Posted by Mike Shannon

  2. Sally
    March 12, 2012 at 3:54 pm

    According to the updated webinar for BofA, we can not send in documents that have blacked out NPI. It somehow shows through when the documents are scanned.

  3. Annie
    March 3, 2012 at 2:25 pm

    •Proof of Funds letter with account numbers and account balances

    Many verification forms from BOA ask for balance. Is this a violation if the form does not have an account number?

    • March 3, 2012 at 3:55 pm

      Hello Annie, use the approved forms sent by CoreLogic for BofA. You can download blank forms by clicking on REO applications above, then clicking on CoreLogic

  4. Kate
    March 3, 2012 at 1:50 pm

    I have been using Verification of funds forms downloaded from various asset managers for BOA and they call for the account balances. Is this a violation if the account number is not of the form?

    • March 3, 2012 at 3:56 pm

      Not the balance. The account numbers are the violation. use the approved forms sent by CoreLogic for BofA. You can download blank forms by clicking on REO applications above, then clicking on CoreLogic

  5. February 29, 2012 at 1:31 pm

    Wow! Great info and thank you for sharing it. Very much appreciated!

  6. February 28, 2012 at 10:31 am

    I agree. At first I asked questions with my asset manager, What Bank America has done, has made it easier on the REALTOR.

    Posted by Paul Emmert

  7. February 27, 2012 at 4:15 pm

    Thank you…………for saving us all!!

  8. Kim Lozano
    February 27, 2012 at 2:17 pm

    Just means no docs are to be put through equator with personal info on them such as acct #s. We verify we see these these docs and do not ever send. I feel this is great. It has bothered me when other banks actually ask for personal info from the buyers. They are the seller in this case and really shouldnt be given it direct. Usually only the lenders and the escrow companies recieve this info.

    Posted by Kim Lozano 530-526-6061
    Broker/Owner at U Save Real Estate
    Redding, California Area

  9. Roger Abuata
    February 27, 2012 at 1:54 pm

    Good information.. Thank you

    Posted by Roger Abuata

  10. February 27, 2012 at 1:04 pm

    Don’t forget, this even means the REO Agents check copies sent in for reimbursement. Our account numbers also need to be crossed out.

    Posted by Kim Knox

  11. February 25, 2012 at 6:10 pm

    Interesting – it means there has been precedents set for them to set this policy NOW….Kind of like the Horse has already run out of the barn door axiom….

    Posted by Joey Singh 917-859-4400

    • joannejcputnam@aol.com
      February 27, 2012 at 6:51 pm

      These rules have been in lace for quite some time. They are not new. What is new is that BOA is cracking down on repeated offenders and those who aren’t following directions. There was a memo sent out on this over a year ago.

  12. February 25, 2012 at 5:59 pm

    I’m confused. I just did a check for keys and of course you have to upload a W9 which has the owner’s social security number. So what do you do with your task?

    Posted by Carolyn Fox

    • Tammy Williams
      February 26, 2012 at 10:14 am

      The occupant has to fax or mail the MOA documents directly to BOA themselves. The directions are on the documents you print out and give to the occupant. Read them carefully as it can be a bit confusing the first time.

      Posted by Tammy Williams
      Realtor/Real Estate Broker/REO Specialist, New York Real Estate Corp. DeLand Florida

  13. Terri Des Jardins
    February 25, 2012 at 5:00 pm

    It talks about proof of funds and copy of check, I thought these were ok as long as you crossed out all the account numbers?

    Posted by Terri Des Jardins
    Co-Founder & CEO at HouseHelper Team
    Greater Seattle Area

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