Information

NationStar Mortgage

Website: http://shortsalebasics.ning.com/Nationstar/
Members: 527
Latest Activity: Oct 11

NationStar Short Sale Informations

 

 

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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

[email protected]

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

FHA Denial for Surplus of Income

Started by Shawn Lowery. Last reply by Minna Reid Oct 11. 3 Replies

Nationstar, FHA loan, mortgagor denied short sale eligibility and instead offered forbearance.  Here is message from loan rep:At this time the home owner is not eligible to participate in the short…Continue

AUCTION after executed contract???? to 2 veterans????

Started by Wanda martinez. Last reply by Ben Benita May 4. 7 Replies

We want to escalated this from Nationstar.... We have an executed contract for 4 months .....  NOW, Nationstar wants to start an AUCTION.... the seller is a veteran with a hardship and the buyer is a…Continue

Nationstart will not accept to start a short sale

Started by Elvira Quiray. Last reply by Ben Benita Apr 26. 1 Reply

Hi All,I need your comments on this situation I have. The sheriff sale date is in a week.  I have called Nationstar and they will not accept the short sale because the sheriff sale is too close. Just…Continue

nationstar FHA Loan- Need your help ASAP

Started by Sigal Waizman. Last reply by Kevin - Greenville, SC Dec 31. 4 Replies

We have a loan with nationstar FHA Loan, We submitted all the documents via equator met with the appraiser got the value that the buyer agreed everything was finally moving well. We submitted an…Continue

Comment Wall

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Comment by Amy on March 28, 2016 at 9:00am

Its 2016 and short sales with Nation Star is sent to auction.com. 

What is this 5% premium and is this mandatory? Appreciate if someone can explain this to me.

As I was reading comments, is it the actual Buyer that will register in the acution or the Buyer's Agent for the Buyer?

Thanks for your help!

Comment by Nisha Wynter on November 16, 2015 at 9:40am

Does anyone know a number to Nationstar's legal department?  I have a file that's been sitting there for almost a month.  They keep saying they cannot connect me to legal but will have someone from legal to call me back.  I've left several messages.

Comment by ElizabethWeintraub00697006LyonRE on August 24, 2015 at 3:57pm

In the last 2 auctions I did with Nationstar, one the buyer registered and bid and the other the buyer did not register. The basic difference is the buyer who registered got approval in one week. The buyer who did not register, well, they started the short sale over after the auction and it took another 6 weeks or so for approval. My suggestion is to register and make the same bid about 5 minutes prior to ending the auction, providing, of course, nobody else has bid higher. But I've never seen anybody outbid the original buyer. That 5% premium kills it.

Comment by Petra Norris on August 24, 2015 at 2:53pm

Does anyone have any updates or guidance on conventional loan serviced by Nationstar? Thanks in advance :)

Comment by Richard Worcester on July 7, 2015 at 7:14am

We have fought this process tooth and nail since Nationstar came on the scene, and we have not had good luck. We have, however, figured out a way to insure our buyer's offer get's accepted on the first try. We DON'T Register our buyer (that had submitted the original offer). Their opening online bid is adjusted down to equal the original bid including the 5% premium. Nationstar cares far less about getting the investor the maximum amount of money than they do about the 5% premium. Make sure they get the 5% and you are in. The online auction process is a dismal failure for the noteholders, but NS gets their premium and they will approve the offer.

Comment by Helena Kaucheck on July 6, 2015 at 4:29pm

Unfortunately, NS has not allowed any bypasses.  There is an "auction" department headed up by Mark Layton (I think) at NS that you may want to connect with.  They are not very helpful.  Make sure you read the material that comes in for the Auction.  One quirk is that NS supposedly will only accept your Original buyer as the non premium buyer and if you lose that buyer any subsequent ones are new buyers subject to the 5% premium.  Make sure you discuss what happens if the original buyer refuses to go through auction.  I've had in the past NS not charging them even if they don't want to go to auction but stays the course of the SS.  NS also recently refused to look at a substitute offer without another auction.  I escalated up to the top and no one was able (or wanted to) pull.  Auction can go up to 4 times FYI.  Just make sure you understand how it works to explain the the Seller and any new offers that come in afterward.  I've had quite a lot of short sales with NS and they keep changing the landscape but this newest one is really unbelievable and truly, in my opinion, looking to force a home into foreclosure due to the timing of the auctions--they may take up to 2 weeks of prep time in between each.  FYI. I am really super surprised that there is no legal way to get NS to stop the auction.  Homesearch I think is their REO arm too.  Isn't there any predatory practices being invoked?  Not as much for the use of homesearch but for the practice to get through one of these. 

Comment by Brett Goldsmith on July 6, 2015 at 4:02pm

Gale, you're likely out of luck on bypassing this. Who is the investor on the note? Hopefully the current buyer can win the auction.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Gale Maramba on July 6, 2015 at 3:53pm

Hello everybody, I am new to this group and I just wanted to know if there is ANY way at all to bypass homesearch.com? Nation Star is asking me to list the property for auction on the said website. The thing is, we are already in contract. Seller only wants to deal with the current Buyer and does not want to participate in any online auction. Thank you in advance!

Comment by Richard Worcester on June 26, 2015 at 5:41pm

I learned this one the hard way this past year. My buyer had initial offer and as such not obligated to pay Homesearch 5%. Went through online auction twice. My client bid as the original buyer and as such no fee to be paid. He was highest bidder however offer ultimately rejected. We finally got smart, had him bid the same price minus 5% but "forgot" to mention he was original buyer - thereby having same net offer price with NS getting their juice. You guessed it - approved! Figure out a way to get them paid and you win. Fight it and you lose. Is it right? Definitely not. The lawyers are all gonna retire rich from this fiasco. But to help your client, you may have to get tricky.

Comment by Helena Kaucheck on June 26, 2015 at 4:39pm

Thanks Brett.  Deeply appreciate.  I have emails going out to Escalation as well as voicemails and emails to the Auction department manager.  I've worked hundreds of Short Sales these last almost decade and this is the first time NS has informed me that ALL new offers must go through auction.  There's nothing in their literature that I can see (I do 3rd party as well as my own) that states the SS will be in constant Auction mode going forward which is what this negotiator is telling me.  It seems like a push from NS to move this asset as quickly as possible to their REO department and/or make 5% back from any buyer we get to help the cost of putting us through a mandated process. 

 

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