HELP !!! I need a contact to Nationstar the investor is Bank Of New York via EQUATOR
I have a short sale that I am working on. They will not co operate with HAFA They are refusing to pay the sellers portion of the title insurance. They are refusing to pay the Natural Hazard disclosure report and they want to cut our commision to 5 %.
I have completed many short sales and the bank has always paid for the title insurance for sure. I have written to negotiator twice via equator and no reponse. I will resend to her superiors via equator now and I want to know if someone has a phone number for me please.
Thanks
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
Tell them to deny it and resubmit. Fastest solution.
Thanks
Tony
832-867-0835
I'm a buyer of a Aurora file transfered to Nationstar.
Nationstar is the worst (In my realtors eyes) This file was approved at $340k but the previous buyer could not get mortgage. So I offered $349K (9k seller Consession) and bang! got transfered to Nationstar who started the process all over. I already have my loan commitment.
We Wait........ Counter offer $355k, no closing cost "UNLESS I'm using NATIONSTAR as mortgage) on top of that they want me (The buyer) to pay 2k in realstate taxes and 8k in judgement liens.
We wrote to Nationstar shortsale manager and Nationstar VP... Now the LA is escalating to Fannie Mae... since it was already approved by them...
Praying it works.
I had the same scenario with Nationstar and Bank of New York. Contacted Bank of New York, contacted Pres of Nationstar, escalated as much as I could. Ultimately I was told to agree to the terms including maximum 5% commission or short sale would be declined. I was told that those are the investor guidelines between Bank of New York and Nationstar. I did have one with Bank of New York and Bank of America and didn't have these issues.
I just closed a Nationstar deal - which was an Aurora transfer. The Title Ins. was on the seller side of the HUD, so, they do approve it depending on how it was negotiated. Their number is 877-450-8638. Although I had one rep who insisted that the bank will NOT pay for the water bill, they ended up paying for it because I, basically, lucked out. We had to have a short extension due to conflicting schedules of the attorneys involved, I ended up with another rep because my assigned rep went on vacation, and I did get the final approval letter to Close. They paid the Title Ins., and the water bill. Otherwise, I do think I would have had a problem with my rep in getting the final approval letter. But, hey, do what you gotta do to get the deal done! So, there was a "plan b." ...always have a plan b.... Good Luck! :)
Hi Rosalinda,
I had a very similar problem with Nationstar. They did not cooperate with HAFA, however you need to email the CEO, CFO and VP. The same letter but address them individually, outlining the problems, the lack of communications with your negotiator and the severity of the outcome if assistance is not rendered. Let them know that the urgency and the importance of team work. It is unfair that we are all working hard to get the homeowner to do a short sale instead of having them walk away from the property and be treated with disregard. At the end of the day we need to work together. Make sure you cover your tracks and email your negotiator in Equator with concerns, dissatisfaction and thank you. Upper management will review all the emails in equator and call the negotiator immediately. Within minutes you will be called and email by corporate.
Remember to always be nice even when you are getting your point over. I got a denial and now it is approved with due diligence. Fight for your clients and never take a no for an answer if you have a strong short sale. Remember their is always a boss over a boss. Find out who is the manager of your negotiator and send them emails through Equator and follow up with a personal email at the same time.
Let them know you can lose the short sale without immediate assistance. Call 469-549-2000 that is the main number to contact all the corporate executives at Nationstar. If you have any question, please call me 925-519-4404 and I can walk you through the process.
Happy Sunday to everyone and keep up the good work.
Donisia Marquis-Knight
Donisia That is good info and will do that thank you so much and thank you for the phone number to corporate I have got lots of good info from all of you big Thanks !!
I think these issues are becoming more and more interesting everyday.
If we think about it, the servicer / investor is responsible to approve or decline the short sale based upon the loss, right? So when the servicer starts negotiating (dictating) the terms of the purchase contract (e.g. who pays title insurance, who pays NHD, or which closing company / escrow is to be used), I ask for the negotiator's State Real Estate License #. It typically stops them in their tracks and gets them thinking.
The issue is, they are the lender, and unless that person is Licensed by the Real Estate Commission in the State where the property is located, they are practicing Real Estate without a License - thoughts ?
I don't think so Thom. Anybody with an NMLS# or an attorney or works for a bank under their license can negotiate a short sale. That's my understanding. In fact, in some states, there is talk that they are going to take that roll completely away from the Real Estate agent; and, only attorneys or loan originators will be able to negotiate short sales. How crazy is that?
True - BUT, I expect the lender's negotiator is NEITHER DRE, NMLS, or an Attorney and they are negotiating TERMS of the contract.
They need no credentials operating under the bank's umbrella. You bring up a good point though. We all need licenses and they hire minimum wage employees who read a scrpt and are able to negotiate a federally regulated transaction. Such lopsided regulations.How does this make sense?
-
1
-
2
-
3
of 3 Next