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: Jul 14

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 Brian Avery on March 29, 2016 at 12:49pm

The buyer pays a 5% premium on top of the sale price. If your buyer is financing through FHA or VA it will not even work. You would register the buyer with Auction.com and the day of the auction you bid with everyone else. If you are the original buyer in the short sale (seller accepted your offer) you would still need to register, but your buyer is not subject to the 5% premium charge.

Comment by Amy on March 28, 2016 at 12:01pm

sorry for the typo.

Comment by Amy on March 28, 2016 at 12:00pm

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 12:40pm

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 6:57pm

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 5:53pm

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 10:14am

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 7:29pm

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 Brian Avery on July 6, 2015 at 7:10pm

Nationstar vs Auction.com or Homesearch.com  has been going on for a few years on this site. You are better off just jumping through the hoops and make sure the buyer offer on the house is fair. I have completed 10-15 Nationstar short sales and the original offer was never beaten by an auction bid. Just make sure you register the buyer and they are not subject to the 5% premium.

Comment by Brett Goldsmith on July 6, 2015 at 7:02pm

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.

Brett@ishortaslenow.com

310-564-6389

www.ishortsalenow.com

 

Members (517)

 
 
 

© 2016   Created by Bryant Tutas.   Powered by

Badges  |  Report an Issue  |  Terms of Service

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