Nationstar Loan Application for Buyers to submit an offer
We just lost another buyer due to Nationstar's guideline of completing a Nationstar Loan Application to submit an offer on a Short Sale. Do they have any idea where this road is leading them? Is anyone else having issues with buyers that are unwilling to complete loan app? It's hard to believe the investors are allowing this to happen. [email protected]
Replies to This Discussion
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Permalink Reply by Bryant Tutas on
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Hi Chad. I place the application in the MLS as an attachment and mention it in the agent remarks. If they want the property then they have to complete the application at time of contract. Since doing this it has not been an issue.
Also, if the buyer's current lender can send over a DU approval or a pre-approval stating the credit score then NS will usually not require the loan application.
NS just wants to make sure the buyer is qualified. I don't blame them at all.
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Permalink Reply by Chad Gelsinger on
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We do disclose the information upfront. I was not aware of the DU Approval or Credit Score variable. We shall give it a shot. Thanks, Chad.
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Permalink Reply by joe beauchamp on
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Unless something has changed, this has been a strong-arm tactic of NStar for years. In the past, they always backed down and would call the buyers app a "suggestion". I highly doubt that investors feel they they should dump good buyers because they refuse to get a loan with the servicer. How does that make sense? Anyway, it came up from time to time in the past and always "went away".
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