Does anyone have a good contact at Nationstar Mortgage? I recently had a B of A short sale APPROVAL LETTER and after this is was transferred to Nationstar so we cannot close. B of A transfer letter states that the short sale and all of it's documents and approvals (approved by Freddie and MI Company as well) would be transferred but Nationstar tells me to resubmit the documents and start over.
Dirk, "the buyer of a note takes the note...." doesn't apply here at all. It's not the owner of the note that's changing, it's the servicer (hired by the owner). Also an Approval Letter can be rescinded/withdrawn. Good luck with getting that note settled and the mortgage released at your local teller.
I just had this happen....all the way to just waiting for the approval letter and bam- BoA sells loan to Nationstar.
We start over with Nationstar - get almost to approval again...and guess what? They sell the loan back to BoA - said there was a problem with docs....sigh....
Halfway through starting over with BoA again now......
If there was a problem with the docs you need to find out what is was! This note could be a null entity.
There are many reasons to look into the transfer back to BofA if you were told in writing that there was a "problem" with the docs. That could be legal speak for "no right to collect can be transferred to us with the docs that exist".
have fun with that one!.
This is happening to me as we speak .. supposed to receive the short sale approval with AMS (for BofA) last week and now NationStar is taking over the loan as of this Friday. The buyer is cash and ready to fund like yesterday. Could you kindly share how long it took to almost get approved for NationStar and did you upload it all into Equator as well? Any information would be helpful :-/ Thank you and I hope you have already closed on your deal!