Short Sale Telephone: 866-312-2432   |   Short Sale Fax: 972-315-7134 or 469-549-2455

Required for Initiation

  1. Loan Number
  2. Last 4 digits of the SSN
  3. Property Zip Code

The Process

Nationstar negotiates short sales through Equator, a structured negotiation interface for communication between lenders and borrower reps. Nationstar negotiates in three structured phases: Processing, Negotiation, and Closing.

Note: Nationstar does not have a designated Customer Service department. Processors, negotiators and closers rotate answering the phones. Most can answer substantive questions, if pressed.

A different person is assigned each role:

Processors: Collect additional documents, request document corrections, order appraisal, complete the file

Negotiators: Respond to the offer, respond to investor fee caps, determine relocation incentive eligibility, request investor-specific requirements, determine cash contribution requirements

Closers: Issue final HUD approval at the close of the transaction

Timeline for Approval

  1. Initiate the short sale on Equator, upload authorization for lender verification (2-3 days)
    1. Note: If three days have passed and the lender has not triggered a task for your authorization, there may be a problem; call to follow-up
  2. Lender assigns Processor (5-7 days)
  3. Processor collects documents and orders BPO (5-14 days)
    1. Note: This time frame is highly dependent on how quickly the buyer/seller can return requested documents to the lender
  4. Processor forwards to Negotiator with completed BPO
  5. Negotiator reviews and responds to offer (7-15 days)
    1. Note: Call after 7 days if no response. Nationstar’s internal guidelines state negotiators have 5-7 days for review. State that it has been past 7 days to encourage immediate review.
  6. After agreement on terms, negotiator submits for final approval to Investor (5-12 days)
  7. Investor issues approval letter, management signs off (3-5 days)
  8. Lender assigns Closer

Four Lender Specific Tips

  1. Call regularly: Unlike other lenders, it is relatively easy to reach your assigned party. Check the upper right hand corner in Equator for the name of your assigned party and request to speak to them.
  2. Request assistance from your phone contact: Nationstar’s short sale department works in one building. If you are having trouble contacting your assigned party, request that the party who answers the phone contact them internally.
  3. Have a complete Borrower Response Package: Most Nationstar files require a complete BRP. This includes a UBA Form 710, a 4506T Form, an RMA form, 60 days bank statements, 30 days pay and a Dodd Frank form. Send this together in one PDF for lender convenience.
  4. Communicate predominately through Equator: Nationstar is most responsive through the Equator system. Cut down on phone time by emailing through EQ/secure email.

Value Dispute Procedure:

Lender counters the offer higher than the parties believe the property is worth.

  1. Respond to lender's counter with the buyer's highest and best
  2. Provide an independent appraisal or full agent MLS sheets for three comparable sales (providing all characteristics), and if available, three active comparable property MLS sheets
  3. Provide a CMA report
  4. Comparable requirements:
    1. Closed sales no more than six months old
    2. Similar in size, age, condition and characteristics
    3. Within one mile proximity of the subject property; OR
  5. If there are Repair/Hazard Issues:
    1. Provide a line item repair estimate from a licensed contractor or engineer on business letterhead with the costs to cure the damage
    2. Provide photos of the damage
      1. Note: Excessive photos will be rejected
      2. Place photos in a zip file if sending more than three
  6. Time given to provide documents for value dispute: 24-48 hours
  7. Potential wait time for value dispute results: 2-4 weeks
    1. Note: This time can be expedited if you provide a complete dispute package and follow-up every 2-3 days.

Lender Specific Documents

  1. Borrower Response Package
    1. UBA Form 710
    2. Dodd Frank
    3. RMA
  2. Nationstar Financial Package (requested only with some investors)

Lender Escalation Procedure

Compared to other lenders, escalations will likely not be necessary with Nationstar, as their staff generally responds within 72 hours, and they complete their internal Equator tasks regularly. If more than five days have passed without movement on your file:

  1. Call the short sale department
  2. Request an update
  3. Send a message in EQ stating: “STATUS UPDATE FIRST REQUEST”

Wait 48 hours, if no response:

  1. Call the short sale department
  2. Request they email your assigned party and supervisor for an update
  3. Send a message in EQ stating: “STATUS UPDATE SECOND REQUEST”

Wait 24 hours, if no response:

  1. Call the short sale department
  2. Request to speak to a supervisor
    1. Note: The representatives can transfer you to a supervisor, but expect to make the request to them between 2-4 times

Note: Junior liens with Nationstar are negotiated using the same process. If both a first and second mortgage are held by Nationstar, they will likely be worked together by the same negotiator.

Closing Process

  1. Send final HUD for approval: Nationstar requires HUD-1 approval three days prior to closing.
    1. Submit the final HUD on Equator
  2. Sign and Return Final Closing Materials: Nationstar issues closing instructions in Equator once the HUD has been approved. Closing instructions typically include the requirement to sign specific documents:
    1. E.g. Short Sale Arms Length Affidavit, HAFA Affidavit, Unearned Insurance, etc.
    2. Upload documents to Equator library and include in message on Equator as well.
  3. Processing Tips:
    1. All correspondence should go through Equator
      1. Note: If need be, sample format for closer’s email:
    2. Ensure the seller(s) sign the approval letter as part of the final document package

Approval Extensions

To request an extension of an approval:

  1. Reach out to a negotiator in Equator
  2. Provide a buyer/seller a signed Purchase and Sale Addendum with a revised closing date
  3. If you receive no response within 2-3 days of the approval letter expiration date, call to escalate: 866-312-2432