1. Short Sale Activity Map Bank Workout Production Process
.10
Short Sale Client
Lead Received
Schedule
Client Interview
Notes:
Flowchart shows major steps
All times are averages in days
or fractions of days.
Objective:
Determine cycle-time (10 hr.day)
Estimated Total Cycle time is
+/- 210 calendar days from Intake to Closing
.10
Personalize
Bank Workout
Questionnaire
1.0
.10
Start Property
Due Diligence
& Research
Provide
Prelim
Info Pkg
1.0
Prepare
Property
Profile Report
Page 2
Copyright Troy Schrenk 2010

2. Continued: Short Sale Workout Process
Page 1
Continued: Short Sale Workout Process
.30
1.0
2.0
Prepare
CMA Report
Listing Intake
& MLS Setup
Collect/Scan
All DOCS
.50
.20
3.0
.50
E-file all Docs
In Portal
And w/BOR
Interview
Client
Cont. Client
Counsel
Marketing
Plan
.20
.20
.20
.10
Audit
All Documents
Workout Pkg
Prepare
Transaction
Report
Client
Intake
Initiate
SS Intake
.50
3.0
.10
Document
Collection
Activate
Listing & Mkt
Plan
Submit
3rd Party
Auth
2.0 RE
Document
Review &
Execute
Market
& Negotiate
Sale
Page 3
Copyright Troy Schrenk 2010

3. Continued: Short Sale Workout Process
Submit PSA
To Title/Escrow
Obtain PHUD
.50
Continued: Short Sale Workout Process
Page 2
.10
30.0
Review
Workout w/
Lender –Intake
Confirmation
Negotiate
w/ Lender
& Investor
(TERMS)
1.0
Prepare
Final W.O.
Pkg.
3.0
30.0
Wait for
Doc Imaging
Wait for Investor
Decision
.10
Scan Hard
Copies 1 FINAL
PDF (COND)
1.0
30.0
F/U with
L& I
wkly
File Assigned to
Negotiator
Review file
w/Negotiator
.10
E-Submit
W.O.Pkg/s
.10
7.0
Submit
Updated Client
Financials
Every 30 days
Lender
Orders BPO
5.0
F/U and
Wait for
Authorization
.05
7.0
Obtain
Lender/Investor
Decision
BPO
Complete
Page 4
Copyright Troy Schrenk 2010

4. Continued: Short Sale Workout Process
Submit
Decision to
All Parties
Continued: Short Sale Workout Process
Page 3
.10
35.0 .5
Buyer Loan
Docs Approved
Delivered to title
Funding
.50
Prepare
Updated
HUD
1.0 .5
Buyer
Sign Docs
Recording
1.0
Collect
E.M. Deposit
1.0
1.0
Issue Keys
Buyer
Seller Sign
Docs
3.0
Final
PI’s
BUYER
2.0
.05
Update MLS
Submit Closing
Docs and Comm.
Buyer’s Lender
Reviews Docs
7.0
Buyer
Appraisal
.10
2.0
Prepare
Final File
Close out
Final Approval
Copyright Troy Schrenk 2010