We are working on a file where Nationstar is the servicer, but we have found out that Chase is the investor. Nationstar has been playing the valuation game - we've submitted the buyer's appraisal and significant additional documentation for the property. Intially they countered $50k higher, then late last week, $70k higher. Enough.
Through our QWR, we found that Chase owns the mortgage on the property. So, we escalated to the Executive Resolution office, and several VP's. In short, the responses we have received have been along the lines of, "Nationstar is the servicer, so they'll have to decide on the short sale for us."
I find this type of response to be odd and non-sensical. Chase stands to lose more than $57k if they foreclose on the property, as opposed to taking our short sale offer.
At this time I do not have any investor contact info for someone at Chase who would be able to make a decision on this. It's a pretty straightforward issue if we can get to someone at Chase who has both the authority and brainpower to make a decision on this.
Any insights/suggestions would be most appreciated.
Thank you.
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