Only One Borrower Cooperating Short Sale We were recently brought a short sale transaction in Santa Monica, California by an agent who has a borrower who desperately needed to attempt a short sale review. The issue in their case though was that there is a co-borrower...
What Is An Equator Soft Decline? An Equator soft decline is a term used for declining an offer on a short sale that is being processed through the equator online platform. Short sales are moved forward in equator on the agents and banks side by completing tasks. At...
WHAT DOES IT MEAN TO BE SERVICE RELEASED? WHAT IS LOAN SERVICING? In many cases the lender your payment is made to is not actually the beneficiary of the loan. This means that when the loan was created it was not their that was used; even if they originated it. The...
Nationstar BPO Form Many lenders require servicer specific paperwork when applying for a short sale. Nationstar falls into this category and you must complete the Nationstar Short Sale Package. On top of that they also require the listing agent to complete a...
Specialized Loan Servicing Escalation Specialized Loan Servicing (SLS) is a mortgage servicer who at times are more difficult to deal with than other short sale lenders. The way they process their transactions often create hurdles. For example whenever any deal change...
Current Mortgage Short Sale Many borrowers do whatever it takes to stay current on their mortgage even while facing imminent default. It’s important to know that even if a short sale is completed while your are current on your mortgage it will still impact your...
