IBM put 1.3 Billion into this arm of the business... let's see how productive that was?
Latest Activity: Feb 21, 2019
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Seterus went out of business and primarily sold their loan portfolio to Mr. Cooper. Check out the Mr. Cooper group for their contact information. http://shortsalesuperstars.com/group/mrcooper
Started by Jeffrey W Wolff Feb 21, 2019. 0 Replies 0 Likes
FYI all:I learned today that Seterus is being bought by Mr. Cooper. Seterus was always easy to work with and Mr. Cooper being one of the worst. The negotiatiors are moving to Mr. Cooper which is a…Continue
Started by Evelyn Blanks Apr 6, 2017. 0 Replies 0 Likes
Hi does anyone have the most recent Uniform Borrowwer Assistance Form and Third Party Authorization for Seterus. I spoke to them yesterday and they directed to me to their website - but for some…Continue
Started by Nadia Scheffers. Last reply by Nadia Scheffers Apr 4, 2016. 2 Replies 0 Likes
Can anyone tell me if Seterus use Equator?Thank youContinue
Started by Vanessa Machado Apr 16, 2015. 0 Replies 0 Likes
SHORT SALE SUBMITTED ON 3/5/2015 VIA FAX TO SETERUS AND INITIATED THE SAME DAY THROUGH HOMEPATH.COMUNFORTUNATELY, FILE IS STILL NOT ASSIGNED TO A NEGOTIATOR AFTER ALMOST 45 DAYS. FANNIE MAE IS MADE…Continue
Has anyone done a short sale with Seterus lately? I just received a lead and wonder how tedius the process is going to be. Are they still using https://www.homepathforshortsales.com for processing? does this go public for other offers or do they only consider the offers we send them?
Hi Kevin, Sorry I just saw your comment now because I am still having issues with them on another file. My email is [email protected] if you have an assistance to provide. Thank you!
Vanessa, What's your contact info?
SHORT SALE SUBMITTED ON 3/5/2015 VIA FAX TO SETERUS AND INITIATED THE SAME DAY THROUGH HOMEPATH.COM
UNFORTUNATELY, FILE IS STILL NOT ASSIGNED TO A NEGOTIATOR AFTER ALMOST 45 DAYS.
FANNIE MAE IS MADE AWARE THAT SETERUS IS NOT DOING THEIR PART IN MOVING THIS FILE FORWARD, YET DOES NOTHING TO ASSIST.
ANY ESCALATION POINT OF CONTACT IS GREATLY APPRECIATED. THANK YOU!
In case I pressed the wrong button to add the comment, I wanted to express the great experience I had with a Seterus/Fannie Mae SS using the Homepath system. The process was quick and clean. Fannie was on the file immediately and we received approval around 11 days. The only hiccup was a small delay between Seterus' required actions and those being recognized by Fannie before they generated their letter stating certain docs were missing when in fact Seterus did just send up. Just a crossing of communication. Hopefully this will be the norm with most lenders going forward and open up more helpful access to investors.
I just got this message from the Negotiator I work with at Seterus. Really important to read this, as Fannie Mae is 99.999% of Seterus's servicing. Here's the message I got.
I want to give you a heads up on the new process. Fannie Mae has
decided that they want all short sale offers submitted directly through
their portal. We are having meetings on it today so I can better address
questions later but here is the gist:
-You get an offer and submit it through homepathforshortsales.com directly to the investor
-They negotiate the offer with you
-They will approve an offer, an approval contingent upon “final” approval from us at Seterus
-I will get financial docs from you; run financial review, if there is any iffy financial stuff I send it back to Fannie Mae
-I issue you final approval
Currently we are the only Fannie Mae servicer “participating” in this but
I believe their end game is to roll it out to all servicers if it is successful.
I've done Seterus short sales before and I uploaded directly to them. And I contact them and let them know, that borrower does NOT want to use Clarifire. If u say u want Clarifire, it goes directly to them and it's a nightmare, and they are just a 3rd party co, taking 1%....so your Fannie Mae short sales guaranteed at 6%, will now be 1% for u to give to Clarifire. I don't need another 3rd party co to come between me and the lender. After uploading, Clarifire will call and ask to be involved. I told them NO, the borrower is going directly with Seterus, and we dealt with Seterus from there on. I contacted Seterus directly for the proper uploads to their loss mitigation and never had a problem, since most numbers given on each group on this site, are old and no longer in existence or have been changed, including the people to contact, etc... I wish someone would update contacts, and numbers... You can try them, but if they are wrong, you will have to research and contact each loss mitigation co yourself. I find this works best.
A caution to everyone. I am currently working a Seterus s.sale and borrower was initially told to upload documents to the Seterus website. This was impossible as error messages were received from both Seterus and Clarifire. When I checked with Seterus loss mit. I was told they cannot retrieve anything that is uploaded (different dept) and to fax everything in to the imaging # above. Ute commented on this before be but WARNING- they are not using Clarifire per loss mit. Also, they do not require a financial worksheet other than the Form 710.
Does anybody have the corporate or swithcboard number for Seterus?
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