Short Sale Superstars

Providing you with the knowledge and tools needed to succeed with Short Sales

Information

NationStar Mortgage

Website: http://shortsalebasics.ning.com/Nationstar/
Members: 518
Latest Activity: 22 hours ago

NationStar Short Sale Informations

 

 Click the button to hire a Superstar in your area

NS Escalation Form.pdf

NS Realtor FAQ.pdf

NS Realtor Assistance Desk.pdf

NEW NS Authorization Form

NEW NS Short Sale Acknowledgment Agreement -addresses auction.com.pdf

 

NationStar is now using equator.com. Initiate your short sale there. Also the borrower needs to call 877-450-8638 to give financial info.

The nationstar escalations number is 877-343-6386

shortsalesupport@nationstarmail.com

Short sale dept # 888-811-5281; fax authorization to 972-966-4530

FNMA Loans 866-312-2432 LOA FX 972-459-1611

https://www.nationstarmtg.com/CustomerCenter/BestOption.aspx

 

Nationstar Agent Equator Task Guidelines.pdf

 

Step 1: Contact us — 1-888-480-2432

FAX LOA to: 469-549-2455

Direct line to Short Sale/Loss Mitigation: 866-312-2432

Step 2: Complete the Financial Worksheet

Nationstar Financial Worksheet.pdf

Agent Guidelines Fannie.pdf

Agent Guidelines FREDDIE.pdf

NS Financial Request.pdf

NS Hardship Affidavit.pdf

NS 4506t.pdf

NS Dodd Frank.pdf

ALL BUYERS MUST COMPLETE:

NS Buyer Application.pdf

Step 3: Fax or mail to Nationstar Mortgage

Fax — 1-972-315-6827
Mail — Nationstar Mortgage
Loss Mitigation Department
350 Highland Drive
Lewisville, TX 75067

Discussion Forum

Nationstar PFS Preforeclosure sale

Started by Al. Last reply by Brett Goldsmith Jun 14. 3 Replies

I have an FHA short sale with nationstar received an ATP recently. The negotiator told me we need to net 84% of appraised value now the ATP stated it needs to net atleast 88%. Also the owner notified…Continue

PRIVATE MONEY LENDING

Started by Sandra Geraci Jun 6. 0 Replies

I am a private lender and i give out loan to people as to assist them in various ways like settlement of debts,re consolidation and perhaps start new business to earn a living.I was settled a huge…Continue

Has Your Seller Been Harmed By Nationstar / Homesearch?

Started by Sean Ryan. Last reply by Liz Harris, MBA May 26. 1 Reply

If you have a homeowner or Seller who has been harmed by Nationstar refusing to work with them/you reasonably on a short sale or loan modification, OR... Pushing them to or through the…Continue

I have a very good offer on short sale, but NationStar saying can't help because not 30 days

Started by Valerie Hernandez. Last reply by Bryant Tutas Mar 30. 1 Reply

I have a deal that is scheduled for sale next Tuesday and they said they can't stop the sale to do a short sale. I have been doing short sales for quite some time and have never been told no because…Continue

Comment Wall

Comment

You need to be a member of NationStar Mortgage to add comments!

Comment by Helena Kaucheck 22 hours ago
Interesting..Tony who is the investor? I remember years and years ago, a servicer had a per dime fee in their approvals to counter any requests for extensions. I've never seen one since. Is this investor related or Nationstar in general? Interesting they didn't disclose on their welcome letter. Nationstar just seems to find new ways to surprise distressed homeowners. I just wrapped up a few for FHA and Fannie investors and they didn't "charge" for the extensions. If they are the investor here I'd definitely report them and include the CFPB in that complaint list. This is crazy.
Comment by Tony Morales 23 hours ago

Nationstar now appears to be breaking some regulations and possible state laws  They will only give you 1 extension if you require another one they will charge an extension fee . They then tell you if you do not agree to pay it then they will close your short sale and make you start over and route it back for another auction  My specific file required release of IRS liens, 4 judgments, and a 2nd lien holder.   Oh also they state that the extension fee is a per day amount, but, for example, if you ask for 3 weeks but close in 2 they will not credit back 1 week

Comment by Tony Morales on May 25, 2016 at 4:11pm

I have been successful to have a couple of them pulled from Homesearch  or not go to them at all. One was due to the condition of the property being severely damaged . The other was due to my contact with the VP and proved to him the benefit of not going to Homesearch. Also the main reason for this process is to determine if a higher offer can from  the auction  This is a result of agents submitting below value offers from investors. As far as the open house, I have never been required to prove that one was held

Comment by Amy on May 25, 2016 at 1:11am

Thanks@ Elizabeth and @Brett!

Comment by ElizabethWeintraub00697006LyonRE on May 24, 2016 at 2:45pm

@Julie -- I have never had to hold an open house, although they have requested it. They cannot make you hold open houses. Sounds like you got some snippy control freak who had no business making those sorts of demands. The key to their process, far as I can tell, is to make sure your buyer registers. They will require your buyers' credit card number and some people object to that, but it will speed up the approval process if the buyer is in the system when the buyer wins the auction.

Comment by Jim Schneider on May 23, 2016 at 9:05pm

These comments on Nationstar sound a lot like what OCWEN was doing with forced HUBZU auctions, and several states shut them down. It might be worth seeing if they're violating the same laws. Illinois decided HUBZU was practicing real estate without a license.

Comment by Helena Kaucheck on May 23, 2016 at 7:26pm
Hi, I've only had one incident that Nationstar backed away from the auction and that was quite a few years ago. When a file does go into homesearch.com, as Elizabeth says there is a 5% premium added to the purchase amount. This turns away most buyers and if there was a buyer who's taking out a loan that won't pass muster. Nationstar gave us no option. What I found to also help is to be on top of the auction and don't give the rep any leeway when it comes to time tables or deadlines on their end. Make sure you know their turnaround time and if they allow the auction to occur once or re-occur over a period of time. I can't remember if it was Nationstar that kept the auction going for a certain amount of time. Ocwen did this too. But nevertheless just make sure you know how it works and don't give them one inch to not move the file forward once your file meets their ridiculous needs.
Comment by Julie Lyons on May 23, 2016 at 7:13pm

I too was forced to use Homesearch.com  It really is just a formality from what I can tell.  I did have to have the open houses and had to print out a copy of the MLS that showed the open house dates.  I helped the buyer and the buyer's agent to register online and place their bid.  There were no other bids even close to the original buyer's bid.  It did slow down the process and was a big pain, but the original buyer did get his offer accepted by Nationstar and everything went fine.

Comment by ElizabethWeintraub00697006LyonRE on May 23, 2016 at 6:21pm

@amy -- I would not worry too much about homesearch. First, if you're close to what the investor wants, then it will be very rare for a bidder to come close to your buyer's offer because bidders tend to underbid. Second, the bidder will need to pay the 5% premium, and your buyer will not. I have never lost a sale to a bidder. The first thing they do is find out who has the home listed, and they then see the home is pending and they figure out what's going on and they don't bid. I don't help them out, either, no open houses, no assistance, they are on their own. Just watch the bidding and I don't recall if Nationstar is now prevented from shrill bids, which was going on for  awhile. You might ask your buyer to register online, just in case, and your buyer can bid his own offer, but don't do it until you are very close, within the last hour of bidding. That way he is "in the process" in case somebody bids more than your offer, but that is unlikely to occur. All this process seems to do is delay the short sale approval process, but I can tell you that a buyer who is registered seems to get a faster short sale approval than the buyer who does not register. So there is that.

Comment by Brett Goldsmith on May 23, 2016 at 2:49pm

@amy I've never been able to go around homesearch and I've been involved in well over 30+ files that have gone through homesearch. We have tried to get it around a few times to no avail.

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

 

Members (515)

 
 
 

© 2016   Created by Bryant Tutas.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************