Replies to This Discussion

Permalink Reply by London Cox on June 26, 2015 at 6:01am

I've had this same experience with those two parties.  

I would recommend going back to your contact at Fannie and request (demand?) that they notify Nationstar of the results of the valuation dispute.  Provide the Fannie rep with all of the contact information that you have for the person(s) that you've been dealing with at Nationstar.  

It appears that the servicer never got the memo from their investor that a lower valuation had been approved, and that is something that they will have to hear directly from Fannie.

Permalink Reply by Teresa Keeler on June 26, 2015 at 6:09am

Thanks for your reply! yes I did this and the person who gave me the new value is on vacation and the person covering for her tells me I have to work it out with Nationstar. I feel like I'm in the twilight zone. The servicer says we have to close on Monday at the old value or he's closing the file.   

Permalink Reply by London Cox on June 26, 2015 at 6:18am

And therein, we have the very definition of a Catch-22.........

I would keep hammering on Fannie.  Nationstar is going to stick with that old value regardless of what you tell them.  It will have to come from their investor.

My next thought would be to call anyone in that group at Fannie that you can reach and get in touch with the supervisor for your vacationing contact.  Sometimes a polite request to speak to the supervisor will work, other times the situation will require slightly less diplomacy.  They will eventually get you in touch with one.  Explain your situation to the supervisor and they should be able to take care of this for you.  I doubt that it will all happen in time to close on Monday, but Fannie should be able to pull it out of the flames for you even if the nice gentleman at Nationstar closes it out.