Nationstar Short Sale

We submitted a Short Sale Package through Equator on a Nationstar (sold to them by B of A) loan. Never received confirmation that Equator received our package. Nationstar states they will not initiate the short sale transaction as the Trustee Sale date is three weeks away. They claim they will not initiate a Short Sale if the Trustee Sale date is within 30 days of submission of a Short Sale Package.  HELP!!!  If anyone has any advise or contact information, I would greatly appreciate your assistance.

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Permalink Reply by Short Sale Superstars LLC on August 28, 2013 at 5:56pm
Did you try to initiate the short sale into your equator account yourself? Did it not allow you to initiate the loan into their system? You would not submit a package through equator unless the file is already initiated into equator which at that point in time tasks would trigger for you to upload the documents. I'd try to Initiate the file into equator again and fax over the short sale package to the short sale department. I'd have to double check Nationstars guidelines in regards to them not looking at a short sale within 30 days of the foreclosure sale date. When is the FCL sale date set for?

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Permalink Reply by Short Sale Superstars LLC on August 29, 2013 at 7:54am

Karen,

       We actually received a new file yesterday evening with Nationstar with a FCL sale date set for 9/15/2013. We received a phone call early morning stating that due to the sale date within 15 days that the property would go to Foreclosure if the mortgage was not reinstated. We were able to reach a representative and email them the complete short sale package who then said they would take the offer and package to the investor to consider if the FCL sale date was worth postponing in order to allow a short sale review.

Permalink Reply by Kevin - Greenville, SC on August 29, 2013 at 7:12pm

Who is the Investor?

Permalink Reply by Kevin - Greenville, SC on August 29, 2013 at 7:53pm
Permalink Reply by Kevin - Greenville, SC on August 30, 2013 at 5:52am

This has nothing to do with the CA Homeowner Bill of Rights.  It's the National Mortgage Settlement.

Permalink Reply by Kevin - Greenville, SC on August 30, 2013 at 5:54am

Is the Borrower HAMP/HAFA eligible?  You may want to go down that road.

Permalink Reply by Kevin - Greenville, SC on August 30, 2013 at 6:08am

Why would the NMS have nothing to do with this transaction?

Permalink Reply by Kevin - Greenville, SC on August 30, 2013 at 6:45am

We don't know at this point in time if Nationstar serviced the file in accordance with the NMS prior to scheduling a sale date. 

Permalink Reply by Kevin - Greenville, SC on August 30, 2013 at 6:45am

I would almost bet they did not.

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