Information

NationStar Mortgage

Website: http://shortsalebasics.ning.com/Nationstar/
Members: 496
Latest Activity: Jul 7

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

Bankruptcy

Started by Mary Ferris. Last reply by Tony Morales Jun 19. 4 Replies

Almost ready to go an Homesearch.com , have a good buyer, and owners just filed for Bankruptcy.I asked Attorney to keep the house out of the bankruptcy , but said without the house they would not…Continue

Need Advice, FC Sale Scheduled May 21!

Started by Sharon Burgos. Last reply by Ben Benita May 6. 12 Replies

Hello all, I'm hoping someone here can give me some insight into Nationstar's process and how I can stop the scheduled foreclosure sale.  I have a situation very similar to another one here...Spanish…Continue

Nationstar grabs the auction business from Auction.com with Homesearch.com

Started by Sean Ryan. Last reply by Brenda Houghton May 4. 10 Replies

You may have noticed that Nationstar has kicked its business partner Auction.com to the curb, in favor of scooping that 5% no-expenses free revenue to its newly minted in-house subsidiary,…Continue

Auction.com requirement - is this even legal?!

Started by Kim Wennerberg. Last reply by Randy Loyer Apr 14. 55 Replies

I am an agent representing both buyer and seller (transac broker) in FL. The title company is in the process of submitting the short sale docs and has been told of a new requirement this morning.Even…Continue

Tags: auction.com, nationstar, nation star

Comment Wall

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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

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

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 8:41pm

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 7:39pm

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. 

Comment by Brett Goldsmith on June 26, 2015 at 7:34pm

Tough situation. It's hard to bypass homesearch.com. They may really make you run through it again. If you have an offer in line with their value you may be able to escalate the file and bypass the auction as this is the 2nd time around. Have you reached out to the standard nationstar escalation department?

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

Comment by Helena Kaucheck on June 26, 2015 at 7:25pm

I have a Short Sale with NS since 4/15.  60 days after initiation, we were told that it would go auction.  We completed the process, no winning bids.  We lost the buyer.  Advised NS, told by NS no problem, they'll soft decline and have us submit new offer. This was all on Equator email.  Received request for updated info along with new HUD1 and POF. Sent.  Got Submit Short Sale task. Completed.  Then 3 days later, received curt email from new negotiator stating the file has been moved to auction.  I asked why since we went through that and we had told NS that the buyer walked.  They said that ANY new offers will have to go through auction.  This was NEVER disclosed.  We also had our submit offer task rejected after we input because it appears NS "made a mistake".  Now I'm getting Marketing task which makes no sense.  Any any help or advice is appreciated on how to escalate this situation and possibly pull the file out of NS as it was for 2 weeks after loss of first buyer and entry of new buyer offer.  TIA

Comment by Lori Young on March 26, 2015 at 9:00am

In urgent need on a senior manager for escalation.  Ive had my file go to "auction" with no real activity.  They suggested the buyer bid against himself.  Buyer walked of course after waiting six months of no activity then "auction mandated"  Now new offer and they want us to do it again.  Im beyond pissed!  naplesagent@yahoo.com if you can share any senior managers email addresses.  Thank you.

 

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