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Comment by Beverly Cibulsky on November 28, 2011 at 12:59pm

I looked up Vericrest on Making Home Affordable.... They are not on the list! So would this mean, NO HAFA? This could be interesting! Citi assigns to Vericrest... now borrower doesnt have the same Foreclosure alternative benefits? Plus any updated input would be appreciates!

Comment by Wendy Rulnick on August 16, 2011 at 2:01am

Casey - They don't really have their act together.  You'll have to use res.net, too, which will require a lot MORE documents, and more than normal short sales. You'll be required to fill out a confusing HUD-like data entry form and take numerous photos of the property to upload, such as the street number.  I suggest you find out who the contact at Vericrest is, and email them with any questions as you go through the forms. I've found they are quite helpful, and don't love res.net either.

Comment by Norvant Admin on August 16, 2011 at 1:54am

This is my first dealing with Vericrest. The Vericrest short sale package button above just says they need, purchase, hud and hardship. Then the Vericrest homework sheet lists like a billion items and information needed. Any idea why the 2 completely contradictory forms?

Comment by Wendy Rulnick on June 3, 2011 at 11:40am

New instructions for Vericrest short sales and Vericrest short sale listings:

You are receiving this email because you have an active listing or offer with Vericrest Financial. 

 

Vericrest Financial has chosen RES.NET as their listing and sales management application and will begin implementing the application on June 6, 2011.  Please note that beginning  June 6,  you will be redirected, by Vericrest Financial,  to www.res.net for opening and processing a Listing and/or Sale.  This means that all communications and required tasks will be completed in RES.NET after the June 6, conversion date.

 

If you are NOT a registered RES.NET AMP Agent, please follow the steps below immediately to register. 

 

1.      Go to www.res.net

2.      Select Login icon in the Real Estate Agents section

3.      Select Click Here to Register

4.      Follow registration instructions

• In order to continue to manage your listings with Vericrest Financial you must select at least the AMP Standard Level Membership
• To get the best exposure, connections, and management efficiencies from AMP, select the Professional Level Membership

5.      Upon successful registration, your name and contact information will be placed in our Active Agent Database.  This placement will allow you to continue to manage properties for Vericrest Financial and be eligible to receive future assignments from other asset management companies.

 

Please see attachment to review the 3 membership options that RES.NET offers

 

If you have any questions regarding this e-mail, please feel free to contact RES.NET Customer Support: [email protected] or (800) 760-7036.

 

Thank you,

 

RES.NET Business Support Team

Comment by Wendy Rulnick on May 26, 2011 at 5:53am

Vericrest is communicating with me on a short sale listing with no contract. They ask for comps and listing history every month.  They refuse to say "OK" to a price reduction, which is needed. They don't own the home - so seller is authorizing a price reduction - just a bit, to get some activity.  It's a two edged sword...  The longer the home takes to sell, the closer the homeowner is to foreclosure, and the potentially foreclosing party (Vericrest) is causing the delay...

Comment by Wendy Rulnick on April 28, 2011 at 12:54am

Jill - I would send the package anyway. Bank of New York is an investor on thousands of loans.  I question what Vericrest is telling you.  You can have the seller send in a QWR (Qualified Written Request - format available on HUD) to find out who the investor is for sure.

 

Comment by Jill Medigovich on April 27, 2011 at 6:43pm

I'm just starting a short sale package with Vericrest, 1st mtg, I called today and they said the investor on this file does not accept short sale packages has anyone ever been told this?  I've researched and think the investor on this file it appears that maybe Bank of New York Mellon CIT Mtg might be the investor, does anyone know for sure where to find who the investor is and anyone been told by vericrest that the investor for a loan does not accept short sales?

Comment by Wendy Rulnick on January 12, 2011 at 6:22am

I have a detailed Vericrest Short Sale Homework Sheet Vericrest Homework Sheet - send this in with your package.

Comment by Wendy Rulnick on December 5, 2010 at 4:46am

I may be starting a Vericrest, that is taking over a Carrington loan. Any success with them?

Comment by Joanne C. McCalla on April 27, 2010 at 12:02pm

I did email a complete package.
That's the only way they will look at your offer.

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