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: 512
Latest Activity: 8 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

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

Nationstar new name "Mr. Cooper"

Started by Thom Colby CA Brkr 888-391-5245. Last reply by Bill Garrett Jan 27. 1 Reply

Continue

Has Your Seller Been Harmed By Nationstar / Homesearch?

Started by Sean Ryan Nov 13, 2015. 0 Replies

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

Nationstar Is Delaying Approving Shortsale to Original Buyer Even After Homesearch Auction Failed

Started by Bandele Oguntomilade. Last reply by cecelia carter Oct 29, 2015. 8 Replies

I am hoping you all can help with some direction as to where to file a complaint.  We submitted an offer to Nationstar prior to any auction is June 2015.  The buyers and sellers opened escrow on this…Continue

Comment Wall

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Comment by ElizabethWeintraub00697006LyonRE 8 hours ago

@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 yesterday

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 yesterday
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 yesterday

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 yesterday

@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 yesterday

@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

Comment by Amy yesterday

Is there a way around it to prevent going to homesearch.com? I was told that our offer is close to what investor wants. The Buyer's Agent told me that the buyer is willing to up his offer to $20K more so long as it doesn't go to auction. What would you do in this scenario? Who can I reach out at Nation Star so that it goes traditional instead of auction. They will be getting their money or more. But the Auction Negotiator said to me that there is no way around it and don't even want to talk to me on the phone, I tried how many times. By the way, this file is delegated.

Comment by Sean Wilder on March 29, 2016 at 12:52pm

They add the buyer's premium to the high bidders price and that becomes the total purchase price the buyer is buying it at.  The fee actually ends up showing as a seller closing costs on the settlement statement.  So financed buyer's are able to do it.  It is still a shame though.

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.

 

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