Don’t Panic. No New Requirements.
Current Requirements Are Now Required.
Nothing dramatic has changed. I approve the CDAs and Corporate Accounting is now processing CDA’s for table funding. Here’s what this means. . .
Sales and Listings files, including ALL Required Documents, must uploaded to BackAgent before a CDA request receive approval and Table Funding can happen.
To insure that your CDA and Table Fund requests are approved in a timely fashion, keep these tips in mind. The following requirements have always been in place. Beginning now these requirements are real requirements.
Submit your CDA request as you’ve always done at least two business days before closing. Last minute requests may not be processed in time for Table Funding. Follow these tips for smooth sailing:
Listings with expiration dates that are extended beyond the original listings expiration date and Price Changes must have an Amendment To The Listing Agreement reflecting the new expiration date, signed and uploaded to BackAgent before funding is approved.
Relisted properties will need the new MLS number reported to office admin immediately up reentry in the MLS
Executed Contracts that have price or closing date changes must have the signed-by-all-parties Amendment To The Contract uploaded and Dates and Information calendar changes made in BackAgent before funding is approved.
Transactions with referral fees require that a Referral Agreement Form be uploaded to BackAgent (GG Referral Form place holder in BackAgent). After adding the Referral Agreement Form the system will ask your to upload a W-9 from the referring broker, the only time you this W-9 requirement can be exempted is if the referring broker is one our relocation partners. If it is, click the red “Exempt” button and type in Corporate Relo.
The Following Forms Can NOT Be Exempted. Without client-executed copies uploaded to BackAgent, CDA requests cannot be processed and Table Funding will not occur.
Wise risk management has always required the use of these forms. Please have our clients execute these forms as part of your normal contract signing process. A delay in getting these documents uploaded in a timely fashion will delay your CDA approval.
The IABS form can’t be exempted.
The GG AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE form can’t be exempted.
The DISCLOSURE OF RELATIONSHIP WITH RESIDENTIAL SERVICE COMPANY form can’t be exempted. Check the “Yes” box if American Home Shield is being used. In all other cases check the “No” box.
The INFORMATION ABOUT SPECIAL FLOOD HAZARD AREAS can’t be exempted.
Thanks for your attention to detail. If you have questions, don’t hesitate to all on me.