Comment

Comment by Celeste ODea on January 31, 2013 at 6:44am

Is Equator really down for Maintenance in the middle of the day?  I have tried for hours to access Equator using different computers and browsers.  Is anyone else having the same problem?

Comment by Freddie Castaneda on January 31, 2013 at 6:29am

Nationstar is driving me crazy.  Im negotiating a short sale for my broker.  The negotiator sounds like someone they just got off the streets.  Everybody in the transaction is cooperating, but them.  The negotiator has never answered my question as to why the seller didnt qualify for HAFA.  They originally had accepted a payoff to the junior lien.  And not once did he counter the amount going to the junior lien.  Then today he says oh im sorry I cant give that amount I made a mistake mind you the agents and buyers are contributing to make up for what Nationstar isnt helping with.  I cant believe these people.  We are a few hundred dollars short and the buyer went up an extra $35k to hopefully get the house.  Anybody got any tips or tricks please post them. have a good day... 

Comment by Debbie Enger on January 30, 2013 at 5:18am

I've had pretty decent luck when using the Realtor Help Desk as well, although the file may stall out again after the escalation, but at least there's a little movement.  

Comment by Helena Kaucheck on January 30, 2013 at 5:12am

I've used the Realtor Assistance desk and have had good luck with that side.  Nationstar's MO appears to be no updates or responses until the 60th day from the date of short sale (possibly initiation or in most cases date the processor says the file is complete). I've had maybe one or two files where the timing was not taken out that long. Fannie and Freddie requires decisions by 60 days so that is where I'm assuming the dating comes from.

Comment by Wendy Smith on January 30, 2013 at 5:10am

LOL - ok, I know it's not funny....well it would be if the need to escalate weren't so serious.  Nationstar does have a new Realtor Assistance desk - di dyou try that yet?  

Comment by Helena Kaucheck on January 28, 2013 at 5:03am

Good Morning Celeste, If the investor is Freddie Mac,  pull the Freddie Mac Commission guidelines (make sure they are the latest Short_Sale_Fact_Sheet_Pub_908.pdf.  Send this in and ask them how you can dispute this with Freddie Mac directly.  Not sure if this helps but may light a fire.  You should also call Freddie Mac.  Remember that when you do, these are similar "customer service" folks so you may have to call them a few times to get someone who is knowledgeable and helpful.  Your commission should not be reduced in anyway as per the guidelines. I always stick to the guidelines and force them to do same. You may also want to go back to the worksheet that was sent to you on Equator for the short sale counter (if any) and see if in there, the commission was reduced.  The Equator system is very tricky-- it will default 5% commission and you have to change that.  Once you submit, that's your ok to them to proceed with the numbers submitted which may sometimes inadvertently include a 5% commission.  Hope this helps. 

Comment by joe beauchamp on January 28, 2013 at 4:35am

Linda, in short sales, there are several levels of "misinformation". Reps who are pleased to "help" you by giving any answer that sounds good, negotiators doing the same or trying to just move on and tell you anything that they like, servicers pushing agressive "rules" to turn away the easy marks and investors who tell negotiators to ask for insane things because some agents will respond positively.

Consider the insurance commercial, "where did you hear that?", "On the internet so it has to be true," "Oh, where did you hear that?", "On the internet."

You want to know who the investor is - that is who actually sets the rules for a short sale. I've only run into some WF investor departments which demand only 5% commission in my last 5 years of short sales, and with some agents posting here how they just pushed ahead and won, I'm not sure that WF wouldn't cave, too.

NStar is mentioned a lot as playing in the dark w/o matches, I'd say push forward and see what collapses.

Comment by Linda Hilliard on January 28, 2013 at 3:58am

I have been told by Nationstar for the prelim HUD to cut the commission to 5% and remove title as they will not pay... Go Figure.....

Comment by Celeste ODea on January 28, 2013 at 3:45am

Nationstar told me that as of last November, value disputes are no longer allowed... go figure.

Comment by Linda Hilliard on January 28, 2013 at 3:30am

have been working on a short sale with nationstar for almost a year. There is no a value dispute as the home has deterioated and needs a new roof and new siding from water intrusion. Kept trying to get an update from Nationstar to only have them send me a form to fill out to have the file expediated. They tell me to give them 2 days. Let's see what this does if anything.

 

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