Equator Short Sale Manual

Agent Getting Started Manual

Getting Started with the Equator Agent Portal Creating an Agent Account and Basic Navigation

Updated

05/18/2011

EQUATOR, LLC PROPRIETARY, CONFIDENTIAL AND TRADE SECRET INFORMATION. This training module contains proprietary and confidential information that is legally privileged. Any disclosure, copying, distribution or use of any of the information contained herein that is not expressly permitted by Equator, LLC in writing is STRICTLY PROHIBITED. This training module additionally contains protected trade secret information of Equator, LLC. For additional information, please contact Equator LLC by e-mail at [email protected] © 2011 Equator, LLC. All Rights Reserved.

mailto:[email protected]

Agent Getting Started Manual Table of Contents

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EQUATOR, LLC PROPRIETARY, CONFIDENTIAL AND TRADE SECRET INFORMATION. This training module contains proprietary and confidential information that is legally privileged. Any disclosure, copying, distribution or use of any of the information contained herein that is not expressly permitted by Equator, LLC in writing is STRICTLY PROHIBITED. This training module additionally contains protected trade secret information of Equator, LLC. For additional information, please contact Equator LLC by e-mail at [email protected] © 2011 Equator, LLC. All Rights Reserved

Table of Contents Introduction ...................................................................................................................................................................................................................................................................... 3

Minimum System Requirements .................................................................................................................................................................................................................................. 3

Create an Equator Agent Account ................................................................................................................................................................................................................................ 4

Login ............................................................................................................................................................................................................................................................................ 10

Log Out ........................................................................................................................................................................................................................................................................ 11

Home Screen ............................................................................................................................................................................................................................................................... 12

Account Information ....................................................................................................................................................................................................................................................... 14

Edit Account Information ............................................................................................................................................................................................................................................ 14

Manage Buyer Alerts................................................................................................................................................................................................................................................... 18

Manage Coverage Areas ............................................................................................................................................................................................................................................. 19

My Equator Agent Certification .................................................................................................................................................................................................................................. 21

Become Equator Certified ....................................................................................................................................................................................................................................... 21

View My Certification ............................................................................................................................................................................................................................................. 24

View Member Only Discounts .................................................................................................................................................................................................................................... 24

BPOs ................................................................................................................................................................................................................................................................................ 25

Troubleshooting .............................................................................................................................................................................................................................................................. 26

Knowledge Base .......................................................................................................................................................................................................................................................... 27

Get More Help ............................................................................................................................................................................................................................................................ 28

Glossary........................................................................................................................................................................................................................................................................... 29

Agent Getting Started Manual Introduction

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Introduction This Manual covers the standard functionality about how to work with the Equator Marketplace software. Note: This document is not Seller/Lender-specific. Each Lender’s configuration is unique. The Equator Marketplace is a task-based Workflow system that enables all parties to send and receive tasks and deliverables, and is designed to enable Lenders to manage their workflow with internal Lender roles as well as with their Agents and Vendors. Equator Features for Agents:

● Post your foreclosed properties as Ad Format ● Be included in Lenders search for new Listing Agents ● Be included in Buyers search for Agents ● Working with multiple Lenders on multiple properties ● Place and negotiate offers on Lender properties ● Automatic enrollment in Equator’s BPO Posing Board

Minimum System Requirements

Microsoft Windows XP SP3+

(Recommended ) Internet Explorer v. 7.0

Adobe Reader v. 8.0 Note: to test compatibility with your current version of Adobe, log in to Equator and click the Adobe test link on the Main Screen. You can also click on the Adobe link to download the latest version if your version is out of date.

Adobe Flash Player v. 9.0

JavaScript Enabled


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Create an Equator Agent Account When you setup an Agent account, you can monitor closing and occupancy status, manage, and track expenses, and market properties through the

EQ Platform. Real Estate Professionals can also submit and negotiate offers, complete valuation requests, coordinate vendor orders, and much more. Once you create an account, your listing will instantly be visible to Lenders searching for Agents in your zip code.

1. Access www.Equator.com.

● The Equator home screen displays. 2. Click Create an Account.

http://www.equator.com/


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Create an Equator Agent Account ● The Create an Account screen displays.

3. Please enter a valid Email Address. 4. Click Next.


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Create an Equator Agent Account ● The screen refreshes.

5. Select the Agent option. ● If you are an attorney representing a homeowner, select the corresponding checkbox.

6. Click Next.


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Create an Equator Agent Account 7. Enter your Information into the fields.

● Email – displays the email address you previously entered ● Confirm Email – re-enter your email address ● Name – enter your first and last name

8. Enter your Real Estate License details. 9. Enter your E & O Insurance details (optional). Note: A red asterisk (*) indicates the field is required, and cannot be left blank

10. Create and enter a Password.

11. Enter the password again in the Confirm Pass field. 12. Select two Security Questions.

● Security questions are used to allow you to gain access to your account if you forget your password.

13. Enter responses to the security questions in the Answer fields. ● The answers to the security questions are case specific. ● If you have forgotten your password, and are asked to answer the security questions, your

responses must match exactly.


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Create an Equator Agent Account 14. Enter your Work Address details.

15. Enter your Home Address details (optional).

16. Click Submit.

Note: By clicking the Submit button, you acknowledge that you have read and expressly agree to the Privacy Statement and the Terms of Use governing your registration for the Equator website.


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Create an Equator Agent Account 17. Activate your account by:

● Clicking the link that was sent in an email to you or ● Clicking the here link on the screen.

o In this example, we will activate by clicking here.

● The Account Activated message displays.

● You can now login to your account.


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Login

1. Access www.Equator.com.

● Equator home screen displays. 2. Click Login in the top right corner of the screen.

● The login window displays. 3. Enter your Email Address and Password (this is the email address and password you used when you created this account). 4. Click Login.

http://www.equator.com/


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Login

The main Equator screen displays with five menus:

o Workflow o My Properties & Offers o BPO Posting Board o Manage Information o Member Center

Log Out To ensure the security of your account, logout of Equator when not in use. 1. Click Logout in the top right corner of the screen. Note: As an added security measure your account will automatically time out after four hours of inactivity. This security feature requires you to log back into Equator.


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Home Screen

The top portion of the home screen contains five menus, which allow you to manage tasks, offers, messages, and your account.

Workflow Menu This menu has links to: Offers Need Response – Click this link to view and respond to Lenders’ counter-offers. Assigned Tasks – Click this link to view a listing of all tasks assigned to you for all your active properties. Messages – Access the Messaging system to read and reply to current messages.

My Properties & Offers Menu

This menu has links to: My Properties & Offers – Click on the Menu heading to access a list of all the properties and offers you are currently working on.

Place a New Offer – Use this feature to submit an offer on one of the properties in your pipeline. Post a property – Use this feature to post a property on our foreclosure listing service. NOTE: The property must be an REO and in an MLS. In addition, you must be the Listing Agent. Initiate Short Sale - You may now initiate Short Sales directly from the Equator Agent Portal. NOTE: Do not contact Equator to initiate the Short Sale - Equator makes no determination on which properties to include in the Short Sale process.

BPO Posting Board Menu

This menu has links to:

Available BPOs – View a listing of Broker Price Opinion (BPO) orders available to be accepted and BPOs already accepted by Agents.

My BPOs – View a listing of the BPOs you are currently working.

Change Settings – Identify whether you want to receive email alerts when Lenders post new BPOs.

Manage Information Menu


Edit Account Information – Update your name, address, phone number, email address, password, security questions, and email options.

My Buyer Alerts – Set your notify preferences when new properties are posted in your coverage area.

Member Center Menu


Agent Certification – Enroll in Agent Certification Courses to improve your skills in using the Equator Marketplace.

Member Only Discounts – View advertising partner discounts and offers made exclusively to Equator users.


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Home Screen

The bottom portion of the home screen contains helpful information, such as system messages and links to manage your account information.

Notices area This is a dynamic area where you will receive helpful information:

Systems Notices – Information and helpful hints regarding system functionality.

Account Notices – This example shows coverage area information.

Helpful links: o Links to test your current version of Adobe Acrobat for compatibility with the Equator Marketplace. You may also download the latest

version of Adobe Acrobat from here as well by clicking on the Get Adobe Reader button. o Add additional coverage areas, manage display options (select billing options for account comments, photo and bold text), change

photo or comments

Agent Getting Started Manual Account Information

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Account Information

The Equator Agent Portal allows agents to manage their account information by clicking Edit Account Information in the Manage Information menu.

Edit Account Information

There are 5 tabs within the Edit Account Information menu:

● My Information – Setup and maintain your contact information, email address (user ID), password, licensing information, and your email options for the Equator messaging system.

● My Photo – Add a photo of yourself for Lenders to view. (Additional fee required of $2 per month flat fee) ● My Comments – Add and maintain additional information about your experience for Lenders to view. (Additional fee required of $2 per

month flat fee) ● My Credit Card – Add and maintain credit card billing information. ● My Files – Review and upload new licensing, E&O Insurance, and additional documentation. ● My Certification – View your certification level and enroll in certification courses. See the My Equator Certification section for additional

information about becoming Equator certified.


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My Information The My Information tab allows you to setup and maintain your contact information, email address (user ID), password, licensing information, and

your email options for the Equator messaging system. This is the top half of the My Information screen. 1. Enter/select data for the required and optional fields (required fields are

preceded by a red asterisk). ● The Email field lists the account where you will receive initial

notifications that work needs to be completed in Equator. Details regarding the task will be in the Messages section. Note: Your email address is also your login ID for the Equator system.

● Use the Current Password, New Password, and Confirm Password fields to change your password.

● Use the Security Question fields to enter answers to questions you select from the dropdown list. o If you forget your password and need to have it reset, you will be

prompted to answer your security question at that time. You will receive a one time, temporary password sent to your registered email address on Equator. Once you log-in with your temporary password, you can then change your password in the My Information section.

Note: Upload documents to support the Licensing Information and E & O Insurance Information fields from the My Files tab.


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My Information This is the bottom half of the My Information screen.

2. Enter/select data for the required and optional fields (required fields are preceded by a red asterisk) ● Use the Receive emails? options to indicate how you wish to see email content:

o HTML o Text o No if you do not wish to receive emails

● Use the Receive BPO Alerts? options to indicate if you wish to receive a message when a BPO is available in one of your coverage areas

● The Receive third party emails functionality is not currently active. ● Use the Signature field to add text lines to the bottom of all messages you send in the system ● Use the Out of Office checkbox and the Message field to send automated messages to whoever

sends you messages through Equator. When you return, don’t forget to turn off the Out of Office checkbox

● Use the CC Email checkbox and related CC Email Add field to turn on the feature and to add an email address to another person so that they can see any message sent to you through the system.

3. Click Save User Changes.

My Photo This screen allows you to upload your photo to appear along with your

profile (comments). This cost is an additional $2.00 per month. This helps your account to be more visible to the Lender for possible selection for listings.


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My Comments Enter comments about yourself (225 characters or less). The system does not allow uploading of advertising brochures. This cost is an additional $2.00 per month. Uploading comments (profile) about yourself helps your account to be more visible to the Lender, Homeowners, Buyers and Investors.

Comments for Lenders – displays in the Lender/Servicer workstation in the Agent Search

Comments for Homeowners – displays to Homeowners /Borrowers searching for Listing Agents in the Equator Borrower Portal

Comments for Buyers/Investors – displays to Buyers on the property details page of for active listings in the Equator FLS (Foreclosure Listing Service)

NOTE: You cannot add Comments to your profile unless you have activated more than one Coverage Area.

My Credit Card This screen shows the credit card information currently setup for your

account. ● To select a different credit card for billing:

o Select the Enter a New Card option and o Complete all the fields in this section

● If the credit card bill is sent to an address other than the Work Address, select the Other Address option, and enter the address information.

Click Submit to save the changes.


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My Files This screen displays the files uploaded when you setup your account. ● To view the files, click the PDF logo. The document displays in a

separate browser window. ● To delete an existing file, click the checkbox next to the pdf logo

for the file and click Delete. ● To upload a file:

o Click Browse. o Locate and select the file you wish to upload o Select the File Type o Enter a description in the Comments field. o Click Upload.

Manage Buyer Alerts

The Equator Agent Portal allows agents to manage their buyer Email Alerts by clicking My Buyer Alerts in the Manage Information menu. This screen displays the Email Alerts, which are currently setup. If an Email Alert is added, the system sends an Email to you when a new address is added to the area indicated. To add an area to your Email Alerts Profile: 1. Select the Choose Type option, Zip or City. 2. Enter a zip code or city in the Enter Zip Code field. 3. Click Submit.


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Manage Coverage Areas

The Equator Agent Portal allows agents to manage their buyer Email Alerts by clicking My Buyer Alerts in the Manage Information menu. There are 3 tabs within the My Coverage Areas menu:

My Coverage Areas

My Coverage Views: This screen is used to see how many times your Agent information has been viewed by a Lender.

My Coverage Statements: This screen is used to view coverage billing.

My Coverage Areas This screen shows you how much you are billed each month for your

coverage areas (home office zip code is free) plus any additional fees for your photo ($2 per month flat fee) and/or Profile/Comments ($2 per month flat fee) and/or Bold text fee ($1 per month flat fee). It also indicates how many listing have been assigned to you during the last month.

My Coverage Views This screen shows you how many times your coverage area(s) have been

viewed by Lender(s).


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My Coverage Statements

This screen shows you your statement by month. 1. Select the Month from the drop-down list. 2. Click on the Display button to see account billing for the month

selected.


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My Equator Agent Certification

The Equator Agent Portal allows agents to manage their buyer Email Alerts by clicking My Buyer Alerts in the Manage Information menu. There are 2 tabs within the Agent Certification menu:

● Select Certification ● Payment & Certification History

Become Equator Certified The Select Certifications screen allows you to become certified in a

number of different areas. Click Get Certified.


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Become Equator Certified 1. Select Platform Level

Silver

Gold

Platinum Note: Click More Info for any Platform to view additional details for that Platform. Click Select in your selected product column.

2. Select Products you would like to add to your Equtor Platform

Certification.

One product is included with your platform certification, additional products are only an additional $199.

Click Next Step.


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Become Equator Certified 3. Payment

● Indicate the Credit Card option: o Use the card on file or o Enter a new Credit Card

● Indicate the credit card bill address option o Enter a new address (if needed)

● Indicate where you heard about Agent Certification ● Select I AGREE to the Terms of Use Policy, to confirm that you

agree to the terms of use. Click Process Payment.

4. Next Steps

● To access the online certification courses, click Access Online Courses & Certification.

● To return to the My Certification tab, click My Certification.


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View My Certification This screen displays your Equator agent certification information. Additional information is available to:

Upgrade Certification

View Payment & Certification History

Access Training modules

Access your Certification Logo for your website and print use

Make use of cerification level Benefits

View Member Only Discounts

The View Member Only Discounts section contains discounts and special pricing that are exclusive to our members. The categories of products and services are:

Appliances

Communication

Computers

Electronics

Home Décor

Home Improvement

Office Supplies

Services

Software

Agent Getting Started Manual BPOs

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BPOs

View and Accept Available BPOs

The Equator Agent Portal allows agents to view and accept BPOs (Broker Price Opinions) by clicking Available BPOs in the BPO Posting Board menu. Outside of the work you may perform for a Lender as a listing Agent, the Equator system will notify you when a BPO request in your coverage area has been received. You can then log into the system and accept the BPO request. Important Note: Equator is not a BPO Referral Service. You are competing with all the other Agents in the coverage area. This functionality allows the first Agent to respond to the BPO Posting to receive the BPO.

This screen provides information about BPOs:

Available BPOs tab – Displays a list of BPOs which are currently available ● BPO Type: Type of BPO that needs to be performed (e.g. Interior,

Exterior, time limitations). Mouse over on the Info ? button for more information regarding this request.

● Address, City, State, Zip: Property address. ● Pmt: Payment amount you will be paid for the BPO by the

Requestor (not Equator). ● Requestor: The BPO Company requesting the BPO. ● Info: Indicates additional information for the BPO ● Posted: Date and time that the BPO was posted ● Due Date: Due date and time that BPO must be received by the

Requestor. Note: To select an available BPO, click Accept Order in the right hand column of the property. The selected BPO appears as an Assigned Task for you to complete

Accepted BPOs tab – Displays a list of BPOs, which have been accepted by Agents. View My BPOs View the BPOs that you have accepted by clicking My BPOs in the BPO Posting Board menu.

Change BPO Alert Settings

Access the My Information screen where you can indicate if you want to receive BPO alerts by clicking Change Settings in the BPO Posting Board menu.

Agent Getting Started Manual Troubleshooting

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Troubleshooting

Equator offers a number of customer support features.

1. Click Help in the top right corner of the screen.

● The Equator Customer Support Portal screen displays.


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Knowledge Base The Equator Knowledge Base actively updated with the most commonly asked questions and relevant content to make your Equator user experience as helpful and efficient as possible. Start by checking the Top Solutions section. You can also search within the Equator Knowledge Base: 1. Enter the keyword(s) in the Search the Equator Knowledge Base field.

● This example is searching for “pdf” 2. Click Search.

● The screen refreshes and displays the search results.

3. Click a result link to view more information about the topic.


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Get More Help If after reading the topics, if you have not found your answer, you may select additional help from a variety of sources:

● Email: a pop-up window appears containing a form you can complete to submit your request for support. Alternatively, you may send an email directly to our dedicated Agent customer service representatives at [email protected].

● Live Chat: a live chat session will open up and our dedicated live chat customer service representatives are available to take your questions ● Contact Us: gives you the dedicated Agent help phone line to our customer service representatives along with our mailing address and

support hours. (310) 469-9167.

mailto:[email protected]

Agent Getting Started Manual Glossary

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Glossary

Term Definition

Dashboard System indicators that displays the number and/or state of tasks, offers, or expenses.

Hyperlink Any underlined text in the application. Hyperlinks navigate to other windows when you click on them.

Phase Section of Workflow. Each phase consists of multiple processes. The Phases in a Workflow vary by Lender. However, the main phases are: ● REO – Pre-Listing, Marketing, and Closing ● Short Sale – Initiation, Document Collection, Marketing, Review Offer, and Closing

Process A set of events involved in completing each Phase in Workflow. For example, Pre-Listing may consist of processes for Occupancy, Property Preservation, Valuation, and Marketing Plan. Processes may differ by Lender.

Property Status As properties go through the lender’s defined Workflow, the properties’ status changes. The statuses differ by lender, but the main property statuses are:

● REO – (1) Prelisted, (2) Available, (3) Pending, and (4) Sold ● Short Sale – (1) Initiation, (2) Document Collection, (3) Valuations, (4) Negotiation/Review Offer, and (5) Closing

Rights (Within the system) permissions that enable the user to perform tasks and functions based on the user’s role.

Role An identity that performs a specific set of tasks within the Equator system. Roles can be internal such as Asset Manager, Negotiator, Title Coordinator, or Closing Coordinator or they can be external such as Listing Agent, Closing Company, Title Company, etc. Roles are specific by Lender.

Task Steps that must be performed to process an REO or Short Sale property. There may be one or more tasks within a single process.

Trigger Events start a particular task or process. Tasks can be triggered several ways:

Completion of a task which in turn may trigger one or more additional tasks. Completion of occupancy status task may trigger cash for keys.

By a specific date being reached: These are called Scheduled Tasks. An example would be the periodic status reports you may be asked to provide to the Lender.

Workflow A system that facilitates the movement of tasks to complete a process. Workflow consists of roles, rights (permissions), and tasks grouped by phase and process.

Equator Short Sale Manual

Real Estate

Transcript of Equator Short Sale Manual