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Comment by Sean Tanner on October 25, 2012 at 12:36pm

Update from yesterday: We are coming to a close in our work day in the Pacific Time zone and still have not heard anything from the selling agent regarding Nationstar's claim of having a decision made in those 7-10 business days. Answers that question in such a way that I think was expected. Shame. 

Today was day 10. 

Comment by Estella Drake, CDPE on October 24, 2012 at 7:28am

Since Nationstar aquired 30k in short sales recently I'm told they are still working on transfering files into their new system Equator and this all had to be done manually. If you ask for the Short Sale department you will be routed back to the loss mit dept as overflow. My short sale  trustee sale was posponed 5 days last friday and on Monday I called as promised 30 days more to review the file. The issue you will run into is the Loss Mit deparment does not have access to Equator and only have limited information. I've only run into one rude lady and the rest very nice. The Loss Mit supervisor saved the day for me! I agree  it will  be a challenge to communicate with my negotiator through Equator. I will not give up!!!

Comment by Sean Tanner on October 24, 2012 at 6:19am

Thank you for that info, Catherine. I'll gently suggest this to our agents and see if it can help. I'll keep going on this post only because I think it will be interesting to see (perhaps for others, as well) if Nationstar stays on track with what they have said they would do. Most of what I hear and read regarding lack of activity has been more about lack of communication and zero activity, rather than broken promises. We'll see! Thanks again. 

Comment by Catherine M Haney on October 24, 2012 at 5:46am

With Nationstar as well as Bof A , equator puts out a message that is different from the negoiator . Got one yesterday to do a task  that contradicted what  the B of A contact told me to wait for . On contacting B of A , was informed to disregard the Equator message and do as she asked . She then went to equator and let them know they were asking for erroneous documents . Go figure ! If you are not getting a contact at Nationstar to speak to you can ask the intake person to put you to someone, I have done this and it works. Remember to treat them kindly sugar goes a long way then a lemon .

Comment by Sean Tanner on October 24, 2012 at 3:08am

This is a post simply for the point of sharing our situation as we monitor what we have been told is "near the finish line" of our short sale approval. As we have gone through this process, I have read many posts here and many of them helped give me some light into what was in store for us, and some not so much. One thing has been consistent across the board for almost everyone in this "club"...we want to know when Nationstar will get "our file" done. 

We are the buyers of a home going through this process. 

July 11 - Sellers accepted our offer to purchase their house in short sale

Sept 12 - Home almost went up for auction at Trustee sale. We attended the sale. Fortunately, it was postponed for a month at the auction. Phew! The opening bid was set at approximately $177,000 higher than market value. 

Oct. 12 - Next auction date was set. This time, it was postponed to Nov. 15 almost a week prior to the auction. This was good news because we still hadn't seen any reasonable action on the transaction. 

Oct. 11 - Selling agent heard from the negotiator (2nd assigned negotiator) after the 3rd BPO had been requested. The message (in Equator) said they had all they needed in Equator and that they would get back with:

"The BPO reports have been submitted to the valuations team for review. Please allow 7-10 business days for completion."

Excluding Saturdays and Sundays, 7-10 days should be Oct. 22-25. 

Oct 19 - Customer service told Selling agent to call back on Monday to try and reach the negotiator, who has not actually spoken to the selling agent yet. No information in Equator. 

Oct. 22 - No updates or information from selling agent. 

Oct. 23 - No updates or information from selling agent. 

If Nationstar is on time with their stated timeline, we should be getting an answer either today or tomorrow. I do not know if the selling agent tried to reach the negotiator this week, as there have been no updates. Will see what happens today, and perhaps tomorrow, being the last of the 7-10 days. 

Will keep you updated to see if Nationstar is on time. We do not have a great deal of confidence. 

Comment by Erick on October 18, 2012 at 5:44am

Hi All,

The listing agent finally got an Equator notification saying that they have all the info they need and that it will be submitted to the investor for final approval.  This is after the negotiator said we would only get the credit for closing costs if we use them to purchase a mortgage.  We contacted their mortgage department and got a pre-approval letter uploaded to equator.

At this point, does anyone have an estimate on how long investors take at this point?  Thanks. 

Comment by Estella Drake, CDPE on October 10, 2012 at 10:34am

I was informed they are so busy because they have 100k new files and I believe they came from FannieMae. I have been waiting for them to look at the 3rd party auth and give me tasks and nada!!! I finally had to get my client an attorney to consult with because the trustee sale date is October 22. Informed by Nationstar you must initiate a short sale 14 days before  a trustee sale date or no  cigar period. Interesting, but I feel just because they use Equator they do not have it together!!! Wish me luck-BK sounds like the best for my client when dealing with Nationstar..

Comment by Cami Pinsak on October 10, 2012 at 8:14am

I actually am doubtful that Nationstar has any real people working there. I can not talk to an individual or get a response from an individual at all.  And I have tried all sorts of different avenues.  This is THE most frustrating bank right now.

Comment by Debbie Enger on October 10, 2012 at 5:31am

Does anyone have any suggestions to get a file moving with Nationstar?  I have one that was originally with Aurora, offer signed in January, initiated with Equator as soon as we could once it transferred to Nationstar.  We are still in 'verify offer' status.  I emailed a Peter Schwartz yesterday, but have not received any response as of yet.  The buyer is still on board, but won't be much longer if we don't see something hinting towards forward motion.  

Comment by Jimena Paridee on October 4, 2012 at 12:17pm

@Linda, it is crazy, I am fighting the same thing with them now, how on earth do they refuse to pay title insurance is beyond me.

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