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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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
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.
•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?
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
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?
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
Wow! Great info and thank you for sharing it. Very much appreciated!
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
Thank you…………for saving us all!!
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
Good information.. Thank you
Posted by Roger Abuata
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
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
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.
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
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
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