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Opinion, commentary, and analysis on everything that makes the U.S. housing economy tick -- not to mention the ghosts in the machine, too. Written by HW's team of editors and reporters each business day.

JPMorgan Chase VP wants short sales closed in 30 days or less

March 5, 2013

During a HousingWire webinar called "Short Sale Process with Chase Bank," vice president of short sales Bill Carr declared the lender is looking to close short sales in less than 30 days.

"We are doing everything we can to avoid foreclosure," Carr said during the exclusive webinar presentation with Bubba Mills, COO and Managing Partner at Corcoran Consulting & Coaching. HousingWire real estate reporter Megan Hopkins moderated the event.

Carr added that a large portion of business now passes through the Chase branch network. Some branches see 10,000 visitors per month, he said.

Chase Priority Partners can access those leads, he said. And other initiatives, such as the Short Sale Accelerator Program offer substantial cash for borrowers.

Carr then provided his personal email and telephone contact details in an effort to recruit qualified short sale agents into the Chase fold.

"We have pre-approved buyers waiting," he added.

Carr's comments fall in line with strategies outlined by Kevin Watters, CEO of Mortgage Banking at JPMorgan Chase, who is featured exclusively on the cover of HousingWire magazine.

Mills added that short sale agents will need to establish a relationship with JPM in order to become a part of the transactions. "Don't expect to walk into a Chase branch and expect short sales," Mills said. "This is a business of relationships."

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