I have been told the above company has been approved by Fannie Mae and Freddie Mac to negotiate their short sales? Has anyone come across them yet? To work with them you have to pay 90+ dollars to join and pay them 1% of the purchase price (from our commissions) or $1500 whichever is higher! I am confused as Fannie and Freddie just said they would not discount our commission and now they sign up with these guys and say we will pay them from our commissions? I find it hard to believe? Anyone else heard of these guys?

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I have never heard of the company. Are you sure it is "endorsed"? Sounds like a marketing scheme...
I've gotten emails from them. They even claim to get approvals in 72 hours.

I wouldn't let anyone take over and process my short sales, although we have a great closing coordinator who helps with the calls and follow up. I think it's too important to maintain control and know what's going on. :-)
I think the same company called me too. They gave a couple of names of other agents in my office who was getting on board. I never believed them so I never researched it. I think it's a scam.
I have heard of them and would be very sceptical of the approved by Fannie and Freddie, probably another "expert" in short sales...sorry not for me
Maybe it would be a good idea to go to the Fannie or Freddie website and see if you can contact them directly and ask them about this company. I wouldn't give them any money without knowing for sure that they were legit and approved.
I found their web site and several recent press/media releases. Nowhere on them does it say they have been approved by Fannie Mae and Freddie Mac. You would think that would be something they would advertise! They are based out of Jacksonville, Florida.
I have to deal with them on 2 short sales now. I started a discussion to see if anyone has had any success, or horror, from them. Haven't found anyone who knows much:

http://shortsalebasics.ning.com/forum/topics/nationalquicksale-dot-com

We're dealing with them now on 2 different files and so far they've been responsive. I'm just not looking forward to giving up my commissions. I think the bank should foot that bill since they picked them!
From what I can gather about NationalQuickSale.com is that they are similiar to Tititanum in that they work with the sellers through the realtors and then they negotate with the servicers. So I assume they have a list of homeowners that are in need of a short sale, possibly give a few to a realtor and once the realtor do the leg work of listing the property and getting an offer they upload it into their system and they take it from there to get the short sale approval, then I assume the realtor would take back over the transaction as it is in escrow. Then they take that chunk of money you're talking about ($1500) is pretty high in my opinion - even if it comes from the total commission! Its like paying Assetlink for referring an asset to you to maintain and sell. But if it just comes out of your portion of the commission then it is taking it all in some cases. This is like working for an asset manager on a bank owned property in my mind.

I didn't see on the site where they are just working with Fannie Mae.... they say Mortgage Servicers, MI companies, Realtors, Sellers. That covers all of them - if opportunity strikes.
Hi Susan is this off the commission on your side only...or is it off the top of the total commission? Its sort of like working with Asset Managers, they charge a referral fee that equals a % of the commission on every deal. Is it like that?

And are you saying the mortgage servicer told you that you had to work with them or they would not do the deal?



Susan Milner said:
I have to deal with them on 2 short sales now. I started a discussion to see if anyone has had any success, or horror, from them. Haven't found anyone who knows much:

http://shortsalebasics.ning.com/forum/topics/nationalquicksale-dot-com

We're dealing with them now on 2 different files and so far they've been responsive. I'm just not looking forward to giving up my commissions. I think the bank should foot that bill since they picked them!
Hi Karen I am back!
Went out and did some research on this company because I had received a call and flat turned them down. So now since reading your question, I am doing reach research. I ran up on Elizabeth Weintraub's post that was done a while back: Looking for Short Sale Agents Who Work With National Quick Sale Dot Com. I just did a re-blog on it to see if I can get other ActiveRain members that have more information on the company and their program. Check out Elizabeth's blog and maybe you will get more info on this company.

The big question is, can you pay referral fees to companies that are real estate licensed? RESPA
I don't have any experience with them yet, but it looks like I will very soon. One of my clients just got a letter from Everhome indicating that "National Quick Sale will be representing Everhome Mortgage Company on all short sale transactions" including the one we have been working on for the last 4 months. If anyone has any other information on (or experiences with) National Quick Sale, please share as it would be appreciated. As I get any further information, I will post it here.
Maybe someone should start a group on this company or Third party negotiation companies. Any takers???

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