In an effort to improve the wait times for the short sale approval process, Bank of America has named a new executive in charge of short sales and REOs. From the press release: CALABASAS, Calif. – Matt Vernon, a 15-year veteran of the financial industry, has been named short sale and real estate owned (REO) executive for Bank of America Home Loans, moving to the loan servicing division from roles in the bank’s residential mortgage origination business.
In his new position, Vernon will develop and implement initiatives to manage and streamline the bank’s efforts to use short sales and other property liquidation tools to prevent foreclosures and oversee the management and marketing of properties in the bank’s real estate owned portfolio.
I guess it can’t hurt.
See the entire press release here: Matt Vernon Focuses on Efficient Service in New Role of Short Sale and REO Executive for Bank of America Home Loans
3 comments
I can’t believe it took them this long to create the position.
Great put a guy in charge of short sales and REO’s that was in charge of new loan production.
Nothing like promoting from within the REO/Short Sle Dept..
Great Move BOFA…NOT!!!!
He’s got a lot of work to do, considering the Countrywide portfolio is under his purview.
I wish him the best of luck, and hope he gets some bonus money.