I have been a BAD AGENT. I am getting a call from Nationstar and Auction.com tomorrow for not wanting to cooperate with there short sale COLLUSION. This call is to take place around 11:00am PST. Anyone want to give me some darts to throw their way. I will be taping the call with their permission. If they do not allow me to tape it I will have my TC taking copious notes. I believe they will be giving me lots to blog about. Game on!
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Auction.com failed to attrack a buyer via there required auction.
Now they have conceded to allow me to move forward with NationStar.
Had two buyers in place prior to Auction.com butting in. Both left the transaction due to Auction.com
Back to square one. A big waste of time. I was pitched that Auction.com would speed up the short sale process.
It has done the opposite. What a mess.
Sounds about right
I had one where they brought up Auction.com and I had the seller opt out. I sent them a letter stating we were under contract, the page in the contract that stated we were not taking back ups the file was pending, and my letter stating they would be opening me to possible RESPA violations.
We close next week with out the auction issue.
Now I do have a new one where I told them Im taking a new short sale listing and was listing the property next week and wanted to go through Auction process. Im waiting for their response.
Paul was this a FHA short sale? What state are you located in? Can you share the details of your letter that how you explained the RESPA violation?
I honestly don't see how this could be legal....The property does not belong to Nationstar and can't dual list the property, and to foreclose on the noncompliant is blackmail at the very least. Nationstar may not be a bank, but the inception of the loan was with a bank, the "the borrower" entered the loan based on banking regulations, etc, etc..
What I would love to see is a copy of each letter from Nationstar demanding the property to be listed on Auction.com be sent to their State Attorney's office, congressman/woman and to the governor of their state.......with a cover showing who owns these companies. What happened to disclosure of business relationship - (owners of Nationstar /Auction.com)? Enough of these letters (past and present) be sent, something might be looked in to it.
How about a national campaign - get permission form your sellers, pasts and present that experienced this, put a packet together with the letters, including those that sold at auction and foreclosed on and sent a copy to your State District Attorney, congressperson and your governor. Mail outs between Oct 1 and Oct 30th. Slam them with it....and coincide with media attention.
I don't like bullies.
I have been very fortunate, I guess, in that Nationstar has not tried to push Auction.com on me. I close quite a few with Nationstar, lately, knock on wood, and no Auction.com.
If Nationstar had a half a brain, though, they would work with Auction.com without the permission of the seller, and they would knock off the silly requirement of an open house and just do their own stupid marketing on their own stinkin' dime and if they get an offer, great for them. They can process their own damn short sale and then let us know when we're closing. That's the way to do it. Just go completely around us. I don't care. I just want the deal to close. But don't try to force us to operate against our grain. Just sayin' . . .
What I have done with the only one I have had in the past few months, Is when they told me Auction was involved I informed then I have a valid contract and if they don't process it I will cancel it and start over in a few months. They didn't, I did, and life goes on and the file closed two weeks ago.
Kathy, To understand. Nationstar is sending a Fannie Mae Loan to Auction.com?
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