NationStar being changed to American Financial Resources, mid short sale negotiation

Neither myself nor my very experienced short sale negotiating team has ever run across this lender / servicer. Our seller just received a letter from NationStar informing them that as of August 2 a company called American Financial Services will be taking over their loan and it's servicing. We are in the middle of negotiating a short sale with NationStar. Can't find anything about American Financial Services except their website which doesn't even have a link to request help for mortgagees who are having trouble.

Any SuperStars out there who have experience with this company?

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Permalink Reply by Lea Lagueux on August 1, 2014 at 5:18am

Thank you Brian. Yes, my client got a letter similar to this. On the 3rd page it says that if the mortgagee is working on a loan mod or forbearance that NationStar will transfer all the records to AFR. That should be interesting.

Was just hoping that someone has some experience with AFR and might be able to give us some tips on working with them. Like - do they use Equator like NationStar does?  Does AFR force sellers to use auction sites like NationStar does? What kind of track record do they seem to have in actually getting short sales done?

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