Comment

Comment by Suzanne McLaughlin on February 2, 2010 at 6:15pm

Clayton, has the approval been completed? Are they asking for a commisison reduction. Do they need money from the buyer?

Comment by Clayton Bonjean on January 15, 2010 at 5:06am

Another note: these were Fannie Mae loans.

Comment by Clayton Bonjean on January 15, 2010 at 5:04am

Just received another Nationstar approval. Very important: Expect language allowing for a future deficiency judgement in the approval letter. Just like BofA. The negotiator said it could not be removed. They did not require a cash contribution or a prom. note but the language is there allowing future collections.

Comment by Suzanne McLaughlin on December 29, 2009 at 9:07am

They are easy and fast to work with...right until the end. The investor always seems to be the snag...and watch your commission like a hawk. Don't end up the sad and pitiful mess I was at closing. Six months babysitting the house and they cut my commission in half. It was even enough to reimburse me for the cash for keys and all the marketing reports I did let alone all the negotiations on three offers all of which were denied except the last and then they made the buyer wait three months to the day of her offer to close. And, kept upping the price on her. Unfortunately, she was in love with the property and kept giving them more and more money....until the appraisal came in very low...and it was their guy because they were the lender to the buyer. Oh my!!!!

Comment by Susan Phelps on December 29, 2009 at 5:10am

I also have found Nationstar easy and fast but it seems that the investor could be a problem. I have a short sale in Minnesota with a 3 month old appraisal for $690K. This is well below market value, proven by comps, and provided to Nationstar with another offer (after the first one was denied). They stated that the appraisal was $690K, they did a review and it came back at $700K. It seems that they will not do another appraisal and will not consider an offer less than market value (per the investor). We know what is happening to this house, vacant, winter, declining market value. Anyone have any suggestions or a contact that might listen?

Comment by Evelyn Broxterman on December 16, 2009 at 5:53pm

My experiences so far with NationStar have been wonderful! They communicate and are quick! They could teach other banks how to do short sales!! ;-)

Comment by Clayton Bonjean on December 16, 2009 at 5:46pm

We just received approval on a Nationstar short sale. They have been great to deal with. I received an approval in less than 45 days and the negotiator was very apologetic about the long lead time. In my experience, 45 days is not a long lead time for a short sale.

Comment by Clayton Bonjean on November 25, 2009 at 11:25am

Easy to communicate with them. Expect their mortgage company to agressively pursue the buyer for financing. They will require all buyers to be pre qualified by Nationstar.

Comment by Teresa Turner on November 22, 2009 at 12:03pm

Just got approval on my first short sale with Nationstar on Friday. I found them easy to work with and they communicate well.

Comment by Suzanne McLaughlin on October 27, 2009 at 4:46pm

Here is the CEO's email address. Have fun.....

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