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Started this discussion. Last reply by Lisa Nishioka Feb 3. 6 Replies 0 Likes
We are starting to notice an uptick now that many forbearance plans have ended. How about you?Continue
Started Sep 4, 2019 0 Replies 0 Likes
Any Fay Servicing Escalation Contacts?Continue
Started Mar 13, 2018 0 Replies 0 Likes
Anyone have a Bayview escalation contact?Continue
Started Feb 15, 2018 0 Replies 0 Likes
Any high level SLS escalation contacts? Urgent situation and need another pair of eyes to assist.Continue
I have been working on a short sale since February, Fannie Mae is investor, was told today that my seller is not eligible because he is not delinquent on his mortgage payments. He is a veteran that retired from the air force and had to move to Wisconsin. He got a job as a postal worker and has a security clearance. I had heard that once he misses the 31 days of his mortgage payment that Fannie Mae will grant the short sale. The junior lienholder is Chase who has been very responsive. What should I tell this AF veteran to do? Thanks for your help with this.
Posted on April 22, 2020 at 5:00am 1 Comment 1 Like
You often hear the term Short Sale and Short Pay. They both are programs that involve a servicer review and a that a lien holder is being shorted and taking a loss on the mortgage payoff. They are similar in that nature but the outcome is distinguished as one program transfers the home to a new purchaser and the other is a designed for a borrower to retain ownership of their home.
In a short sale you are going through a detailed review with the mortgage servicer(s) and lien holders to…Continue
Posted on October 31, 2019 at 4:08am 2 Comments 0 Likes
If you haven't run into this yet, be aware that Select Portfolio Servicing (SPS) with Chase backed assets have a new guideline that can throw a wrench in the transaction. They are only allowing one short sale review! Meaning that if the buyer walks or if the deal is denied for a low offer, you won't be able to try again.
I had an approval and the buyer walked then they would not allow us to submit at the same terms due to this guideline. We also had a…Continue
Posted on July 15, 2019 at 11:34am 0 Comments 0 Likes
If you need short sale help or have questions about a specific short sale transaction please reach out to our community of specialists at 1-888-664-6964. We are happy to answer any questions and help point you in the right direction to accomplish your goals.
Posted on September 12, 2017 at 4:45am 1 Comment 1 Like
Nationstar is now Mr. Cooper! They do have a new Mr. Cooper letterhead authorization letter and they are still utilizing equator. Nothing internally has changed to our understanding of the short sale process for now. This was a move to re-brand the company.