Comment

Comment by Linda Hilliard on October 4, 2012 at 12:15pm

After 7 months of hardly any contact from Nationstar finally received an approval letter from them with the exception that they will not pay title. Yikes, per the contract it indicates that the seller is paying title. Now we are in a tug a war as the buyer will not pay, the actual seller does not have the funds, and the bank will not pay.

They also cut the commission to 5%.

Comment by Jimena Paridee on October 4, 2012 at 11:18am

@Jen, this has been a crazy deal, Wells Fargo is the investor and originally they denied the short sale altogether because they said the investor didn't do any type of workouts including short sales.  Now apparently they decided to accept short sales but they just won't pay for anything and of course the commission is only 5%

Comment by Jen Hill on October 4, 2012 at 11:15am

Jimena, yep, had that happen with Nationstar as well.  We pushed the issue and they just said it's not a standard cost.  Really?!?  We continued to submit the HUD with the fees and they eventually approved it.  No closing costs either?  How many sales do they do anyway? lol  Try to find out who the investor is and try and contact them directly.  Obviously Nationstar is not holding up their fiduciary duty if they are not negotiating deals appropriately.  

Comment by Jimena Paridee on October 4, 2012 at 11:06am

Just when I thought lenders couldn't surprise me anymore, here comes Nationstar refusing to pay seller's title insurance.  Has anyone else been told that before?  I have tried escalating it to no avail.  If anyone has a good escalation contact I would really appreciate it.  They are also refusing to pay buyer's closing costs so there is no way the buyer will pay it and the seller has no money.

Comment by Sean Tanner on October 4, 2012 at 11:00am

Thank you, Michael H. Yes, I definitely know they won't talk to me. I also do know that the listing agent is working very hard on this file, it's just that she has not been given any contact information for the Negotiator and she is the one we all would like to see have that opportunity. 

I didn't expect much on contact information, but thought I'd try. Always looking for out of the box thinking. Thanks again

Comment by Michael Hayley on October 4, 2012 at 7:56am

Sean Tanner: NationStar is not going to talk with you. Id suggest a face:face meeting with the listing agent and ask her to let you see the Equator file on this. Look for the correspondence to the negotiator, look for the dates docs were uploaded to the file, look for any outstanding tasks not done. It might be that it is just taking time and the agent is doing his/her job. If that is not the case, invoke the cancellation clause when you are permitted to do so and bail. 

Comment by Sean Tanner on October 4, 2012 at 4:58am

I am the buyer of a short sale transaction that was executed on July 11. We are nearing the infamous 90 days without much activity, other than everything being uploaded into Equator, and no tasks for the agents to do. I have recently heard that all of the communication between the selling agent and Nationstar has been through the Equator email system. 

I have been following this thread for some time now, and as you can imagine, I am quite concerned about the length of many transactions with Nationstar, even though some have shown they have been completed in timeframes a bit shorter than what we are experiencing. We have just been told that the selling agent does not have any direct contact information for the Negotiator assigned to this transaction. From what I'm reading, it is possible for the agents to be able to have this type of communication with them. 

I do not have the Negotiator's name, but do any of you have direct contact information for ANY Nationstar negotiator? I assume these are Nationstar staff members, and not subcontractors. 

Any of this information that you feel comfortable posting, would be greatly appreciated. I'm trying desperately to facilitate a phone discussion between them, because emails are just simply too easy to ignore. 

Thanks for anything you can give. 

Comment by Suzanne Kensington on October 2, 2012 at 7:00am

I would like the contact info that you sent to please.

Comment by Sugeiry Encarnacion on October 2, 2012 at 4:12am

Update:

 

So I wrote a very long email to Nationstar. Sent it to the Asst. Vice President and the Manager of the short sale department.

The manager said he will try to help and the Asst. vice president said he will make sure leaders in the shortsale department will get my email and if there is something they can change, they will.

 

Hopefully this works. FX

Comment by Thom Colby CA Brkr 888-391-5245 on September 28, 2012 at 10:09am

@Jen - Nationstar will only consider a Value Dispute with a Full Appraisal in-hand.  They don't care who pays for it as long as it's provided by a licensed appraiser for the state where the property is.  I woudl suggest if you have a strong buyer who really wants it, they pay fro an appraisal.  If not, that property is dead.

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