Nationstar Homesearch Auction

Nationstar is a mortgage servicer that uses the equator platform to facilitate their short sale transactions. Nationstar is also notorious for their use of Homesearch, an online auction site. Nationstar Homesearch transactions depend on if the investor on the note participates in the Homesearch auction program. From my understand and experience once an account is flagged for Homesearch there is almost no way around it.

What does this mean?

If a transaction goes through Homesearch it can be bid on from online from other buyers. This means that the originally buyer submitted to the bank ( they are waived for the 5% premium ) can be outbid. If a buyer outbids the originally buyer they will become the new purchaser. This means that if a listing agent is double ending the transaction they can potentially lose the buyer side and the seller can lose the buyer they originally accepted to be reviewed. If a no one bids on the transaction the original buyer will continue to be reviewed by the servicer if they are within the guidelines of the banks valuation of the property. Homesearch can complicate transactions depending on the circumstances and details of the deal.

If you need support or have questions in regards to a Nationstar Homesearch short sale, please fill out the form below and a representative from our staff will contact you within 24 hours.