After much abuse on this file by the short sale Negotiator/Asset Manager- Olivia Davis, I was advised that their 'private investor' requires us to reduce our commission to 5%. She would not release investor information other than this is not Fannie/Freddie..

Has anyone been successful in battling for their full commission? I feel like this is extortion..anyone else out there feel my pain?

As Realtors we're obligated to perform for our clients regardless so my back is against the wall via our Code of Ethics.

Thanks, and BTW- Nationstar is one of the worst lenders to work with especially OLIVIA DAVIS..avoid her at all cost on your own files.

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They are REQUIRED to disclose who the investor is, you just need to know the proper channels.

your commission, I would bet you CAN get it, but it may take a little time.

We can talk off here - [email protected], if you want to talk (we have some GREAT contacts at Nationstar)!!!

..I spoke with Kevin of K/Williams..great insight about HAFA however,this loan isn'

t Fannie/Freddie..HAFA's off the table..He also suggested having homeowner contact N'Star requesting Who the Lender is...

All of this really comes down to selling it and taking a hit..never to do another N'Star short sale or continue to battle. If nothing else, I must reiterate- NATIONSTAR is the worst to work with..completely incompetent in my judgement.

Seth,

HAFA doesn't apply to Fannie and Freddie, FHA or VA. The only Loans it does apply to are non GSE Loans that are Serviced by Making Home Affordable participants.  NationStar is a MHA participant.

Kevin..Just curious why you would comment that HAFA doesnt apply to Fannie/Freddie backed loans..This excerpt is posted directly on the HAFA website..I just want to be up to date on the latest HAFA..Am I missing something here?

thanks,

Seth

see: http://www.makinghomeaffordable.gov/programs/exit-gracefully/Pages/...

Eligibility:

HAFASM is available for mortgages that are owned or guaranteed by Fannie Mae and Freddie Mac (see Look Up Tools) or serviced by over 100 HAMPSMparticipating mortgage servicers.

This is why - The link you posted was Last Updated: 7/18/2012 9:51 AM

Important Notice

Treasury’s HAFA program ends on December 31, 2013. However, Freddie Mac’s participation in the program expired on December 31, 2012. The materials on this Web page are only applicable to borrower evaluations on Freddie Mac mortgages conducted on or before December 31, 2012. The Freddie Mac Standard Short Sale is available for borrowers evaluated after December 31, 2012.

http://www.freddiemac.com/singlefamily/service/hafa.html

Fannie Mae HAFA Program Expiration
Servicing Guide, Part VII, Section 610: Home Affordable Foreclosure Alternatives Program
The Fannie Mae HAFA program will expire on December 31, 2012. In order for a mortgage loan to be considered for a Fannie Mae HAFA preforeclosure sale or Fannie Mae HAFA deed-in-lieu transaction, the servicer must receive a fully executed HAFA Short Sale Agreement (Form 184) or HAFA Deed-In-Lieu Agreement (Form 186) on or before December 31, 2012.

https://www.fanniemae.com/content/announcement/svc1218.pdf

Update: Nationstar is servicer for Bank NY-Mellon..different standards for settling include a reduced commission to 5% and no payment for Seller Title Policy- this violates Oregon law and a RESPA violation per our title officer. HAFA?...great suggestion however the home is vacant..Foreclosure filed but not on the court schedule

I contacted N'star who blew me off stating it takes 7-10 days for review.

I cannot emphasize enough how challenging this lender is. I strongly encourage everyone to bail on Nationstar-their service is the worst I've experienced in 7 years.

Kevin REALLY knows his stuff.....

Far and away one of the MOST knowledgable short sale "resources" in the COUNTRY!!!!

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