First GMAC showed other servicers the benefits of processing their short sales through the Equator short sale platform in 2010. As GMAC had success with the Equator platform, many other servicers have followed suit. First, Bank of America did so in late 2010/early 2011, then Wells Fargo and several other servicers shortly after. Chase will be the next major servicer to utilize Equator in processing their short sales in the very near future.
At a recent trip to the REO Expo in Ft. Worth, TX just a couple weeks ago, I had a conference with one of the "powers that be" at Chase that we work with here at the Short Sale Specialist Network. He informed me of this information as a matter of fact that will happen in the next month or two. What are your thoughts on this switch over to processing Chase short sales through Equator? Do you think Equator has helped other servicers? Do you think this switch is a good idea for them?
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