Comment

Comment by Kevin - Greenville, SC on January 27, 2013 at 4:22pm

1-800-FREDDIE.  Selecting option 2 will route you to the consumer team who is fully versed in Freddie Mac products and guidelines.  Agents are available from 8am - 8pm EST. 

Comment by Celeste ODea on January 27, 2013 at 4:04pm

Nationstar is making this very difficult for us to close.   Crazy.  I will contact Freddie Mac and maybe they can investigate their servicing methods.  It certainly works with HUD!! :>)

Comment by Kevin - Greenville, SC on January 27, 2013 at 10:55am

Has something changed? - Nope.

Nationstar does not know what they are doing, they are not trained properly, and certainly don't know how to service loans.  - Certainly not surprising.

Perhaps I should go directly to Freddie Mac? - Yep.

 

Comment by Celeste ODea on January 27, 2013 at 10:34am

I have a Freddie Mac loan serviced by Nationstar and just received an approval letter that shows a difference in the commission.  I thought, based on Freddie Mac's Guidelines, that  "Unless a real estate broker’s sales commission exceeds six percent of the homeowner’s mortgage, Servicers cannot renegotiate a lower sales commission."  Has something changed?   Nationstar does not know what they are doing, they are not trained properly, and certainly don't know how to service loans.  Perhaps I should go directly to Freddie Mac?

Comment by Sarah Rudd on January 16, 2013 at 9:50am

Just closed a short sale with Nationstar.From February to the end of October, I'd been working with Bank of America to sale a Freddie Mac property. The experience was torture to say the least. When the servicer was changed to Nationstar, I was apprehensive and frustrated but hoping for a fresh start. We submitted an offer at the end of November, were approved, and closed on Friday.

In addition, this was a divorce situation. Husband was no longer on title, but still on the loan. The Freddie Mac representative said that he did not have to sign docs since he was out of the house three years and no longer on title due to the final divorce decree. The fact that we closed and we didn't need the ex-husband's docs or signatures seem miraculous to me. (Perhaps a mistake on Nationstar's part?) We had an excellent experience with Nationstar (for the most part). I write this to encourage the rest of you in your efforts. Best wishes!

Comment by Celeste ODea on December 27, 2012 at 2:19pm

Thanks so much!  So, does anyone have names and emails for the upper execs of Nationstar?  I can't believe they just said it was a terrible oversight and there's nothing they can do... irks me to see how they treat their customers.

Comment by Helena Kaucheck on December 27, 2012 at 11:52am

Been lucky to obtain resolution using the Escalation process.  Received approval and apology letter stating ball was dropped on their end but they would rectify.  Shocked -- in a good way.  Now if I can have the same thing happen with remaining 3 files. Seems the answer I get when calling is that they are overwhelmed with new files.  Understandable being bombarded but the problem is that some are Fannie and Freddie and for those there are procedures that are outlined for services for communication.  If these are not being followed, then best bet is to escalate then inform investor.  There is accountability built into these systems which need to be followed. 

Comment by Albert Clark on December 27, 2012 at 11:35am

Celeste,

You need to find out who the executives of Nationstar are and email them directly with your complaint.  Also, if you know the investor do the same. 

 

I had some success this summer doing so.  [email protected]

 

Some also use @nationstarmtg.com.

 

You've got to let them know they've dropped the ball, it is harming your client, and you and your client need to file a complaint with the Office of Comptroller. 

Comment by Celeste ODea on December 27, 2012 at 11:19am

Nationstar Escalation Dept is of no value whatsoever!  They don't care.  I was told it was a "terrible oversight" and there is nothing we can do.  That's it!  

Comment by Celeste ODea on December 27, 2012 at 11:06am

Guess what Nationstar did to me?  We made an offer, Nationstar countered it, buyer countered it and said they would accept it and then the ball dropped!  The negotiator called me and apologized because he thought he was working with a different file where the homeowner had the same last name and he made a big mistake!  For 2 months going back and forth and you had the wrong homeowner?  What, are you kidding me??  We were suppose to close at the end of the month.  How many people do you think are upset with me?  Geesh!  Hopefully the escalations department can be helpful.  How dreadful!  Even though you give them the loan number, the homeowner's name, address, etc., they get it wrong? What would you do?

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