Nationstar has taken the position that they will dictate to agents and if you don't like it they will just close your file. Agents need to join together and not accept the silliness of Nationstar. DO NOT ACCEPT 5% commission! DO NOT ACCEPT that they will not pay title insurance or any other state regulated fees. Recently they closed my file because I questioned why they required a separate letter on a LLC buyer's letter head their instruction said .....: Must provide the “Article of Corporation” & a signed letter on company letterhead stating that they authorize the property (must have complete property address) to be purchased under the company name (must state the company name).... My response to them was ..that is what the Purchase Contract is for. If you have dealt with NS you know what I mean and if you have not believe me you will. A few weeks ago I spoke to someone in their OOP and I asked how will they be able to handle all of the new files they will be getting from B of A and his answer was "we don't know"
You need to be a member of Short Sale Superstars to add comments!
Wisconsin November 2014 Housing Statistics
Posted by Michael Collins, CDPE, SFR on December 26, 2014 at 8:47am
Best Quote I Have Ever Heard to Tell Regular Agents
Posted by Melissa Polce on December 8, 2014 at 5:40am
Short Sale - AltiSource - HubZu and Ocwen Partnership Wrought with Fraud
Posted by Stephanie Anson on August 13, 2013 at 6:30pm
Short Sale Agent Training 13+ Hours Of Training - $197
Posted by Bryant Tutas on February 15, 2010 at 11:00am
Blog Topics by Tags
- short (550)
- sale (501)
- Short (205)
- sales (188)
- Sale (157)
- estate (156)
- real (153)
- foreclosure (130)
- agent (123)
- specialist (107)
Monthly Archives
2023
- March (1)
- February (1)
2022
- December (1)
- September (1)
- March (1)
2021
- August (1)
- February (1)
2020
- April (1)
2019
- October (1)
- July (1)
2018
- August (1)
- April (1)
- January (1)
2017
- October (1)
- September (1)
- July (2)
- June (1)
- April (1)
- February (1)
- January (1)
2016
- December (2)
- September (1)
- August (2)
- July (1)
- June (1)
- May (1)
- April (2)
- February (3)
- January (1)
2015
- November (1)
- October (2)
- May (3)
- April (4)
- March (8)
- February (5)
- January (8)
2014
- December (7)
- November (3)
- October (8)
- September (10)
- August (11)
- July (10)
- June (14)
- May (14)
- April (7)
- March (14)
- February (17)
- January (23)
2013
- December (21)
- November (29)
- October (18)
- September (20)
- August (19)
- July (27)
- June (31)
- May (20)
- April (36)
- March (41)
- February (33)
- January (60)
2012
- December (32)
- November (34)
- October (39)
- September (66)
- August (41)
- July (65)
- June (45)
- May (40)
- April (34)
- March (40)
- February (41)
- January (30)
2011
- December (44)
- November (33)
- October (45)
- September (46)
- August (41)
- July (62)
- June (32)
- May (47)
- April (35)
- March (58)
- February (50)
- January (51)
2010
- December (34)
- November (42)
- October (36)
- September (46)
- August (26)
- July (41)
- June (20)
- May (25)
- April (26)
- March (34)
- February (23)
- January (46)
2009
- December (21)
- November (20)
- October (23)
- September (6)
- August (10)
- July (15)
- June (5)
**********************************
like buttons
Comments
Tony I know it's silly but when Wells Fargo go audited about 2 years ago in october of 2011...they freaked and were in the process of changing all their procedures..especially on all the World Savings and Wachovia files they took over. At that time...I had a listing and an LLC was purchasing the home, and we had to submit...who was the managing member, every single paper for an LLC. The contract HAD to be signed a certain way, no white outs...it got to be so bad....AFTER I submitted EVERYTHING...some newbies in their verification departments were asking for things they already had and didn't even realize it... and I had to SHOW them they already HAD the items they were asking for, because they didn't even realize what it was....duh!
It got so bad...I asked them if the next things they wanted were urine samples, fingerprints, retina scans..etc...LOL.... All I know is, anytime an LLC wants to BUY a property here in CA....and it's a short sale...
depending on who the servicer is....it can be a nightmare with items the servicer asks for...
seems Nationstar is the NEW OCWEN...whose been horrible for years...::((
Patricia the negotiator finalyl corrected herself and stated it was either the LLC docs or a letter. Her first message in equator she stated she wanted both
Thanks for the heads up on NS. We give the LLC/ Corp info upfront so we have not seen this as an issue but I do understand how frustrating these all are right now.
Bryant, this is exactly why I am disputing what they are doing on this file
I've always received 6% from NA. I have several that are approved now and all were approved at 6%. And they are paying title and state fees. One of the easier lenders to work with in my opinion.
Harry I respect your response however it wasn't the document requirement that I disputed (not argued) it was the 5% commission and declining to pay title insurance that I responded that I did not agree with. The "negotiator" did not even explain or contact me. She simply stated declined by Servicer. Nationstar has set their own guidelines much different than any other servicer. And it is not "due to the investor requirements" I have inside contacts at Fannie Mae, B of A and a few outsourcers also in North Dallas,Tx who have expressed very few positive comments about Nationstar.