Posted by barkaroni on 5/9/13 5:42pm
Msg #469468

Nationstar

I am not familiar with Nationstar paperwork. Any info on them as to number of pages, length of time and any other hints.

Reply by CopperheadVA on 5/9/13 5:54pm
Msg #469470

I had two last month - the first one I turned back due to late docs. Borrowers were upset with Nationstar because the entire loan process had been one fiasco after another. I had another Nationstar where TC called me for an ASAP signing on a Saturday morning and I happened to be available after just finishing with another closing. Docs were ready and I went to appointment. Found out when I got there that borrowers had been strung along for two days with the closing appointment and were angry beyond comprehension with Nationstar. They were here in VA visiting family and they wrote on the Nationstar survey, "You owe us a day of vacation!!!". Yikes.

90 pages of lender docs, if they actually produce the docs. Otherwise an easy package.

Reply by RIcloser on 5/9/13 9:01pm
Msg #469502

In the course of my title company business, we cringe when having to obtain a payoff from Nationstar! They are just awful to deal with...7 business days for results! Very rude and arrogant besides. So, with that indication, I will never accept a signing order from them or for them.

Reply by desktopfull on 5/9/13 10:09pm
Msg #469511

Last one that I did for them was about 165 pgs. Closing had been set for 8:30 am and finally got the docs at 7:15 pm. Went ahead and did the closing because the borrower was leaving town for 2 weeks on business and he could not be reached where he was going (works for government). They also include that awful "Statement of Information" in there doc pkg too.

Reply by RIcloser on 5/9/13 10:21pm
Msg #469516

Why am I not surprised?

Reply by Bear900/CA on 5/9/13 11:15pm
Msg #469521

Get used to them, or not. Just bought out Greenlight. n/m

Reply by janCA on 5/10/13 8:38am
Msg #469552

Re: Get used to them, or not. Just bought out Greenlight.

I've done two Nationstar's through TS. One package was pretty good sized, the other was right at 100 pages. No problems that I can think of that stand out.

Reply by desktopfull on 5/10/13 10:21am
Msg #469565

Greenlight is part of Quicken, does that mean they are

taking over Quicken too?

Reply by Bear900/CA on 5/10/13 11:25am
Msg #469577

Re: Greenlight is part of Quicken, does that mean they are

No, let me 'splain.

Back-up to Lie-tech...I mean Ditech, who died a slow death (R.I.P.) circa 2010. They operated all sorts of illegal activities and were basically a boiler room scam operation with low-pay maladroits (just made that word up) swindling customers.

Two of the chief officers from Ditech went on and formed Cash-Call and Greenlight. To this day they each have some deceitful practices ala Ditech. I guess it’s too hard and too late to rehabilitate them.

Quicken loans was founded by Dan Gilbert, a Detroit entrepreneur who has done quite well running the company. I have never used them but have a good friend who is an account executive with them and she is as honest as the sky is blue. I like what I see about them so far.

They are not to be confused with Quicken software, a product of Intuit.

Nationstar?... I don't like them but that's another story.

Best!

Reply by desktopfull on 5/10/13 11:32am
Msg #469578

Re: Greenlight is part of Quicken, does that mean they are

Okay, because Greenlight was listed as the mortgage provider on the last 20 or so loans I've closed for Quicken. Must be a different co.

Reply by Bear900/CA on 5/10/13 12:20pm
Msg #469582

Re: Greenlight is part of Quicken, does that mean they are

Must be. I tried Googling to see if there was something I am missing but couldn’t come up with anything.

I am broker-approved with Greenlight wholesale only because I have a good and honest friend who recently went to work as a wholesale rep for them and I wanted to continue to work with her, but I don’t know of any connection. Fyi, I never used them and she just quit because of other internal negative changes.

Wholesale is quite different from retail and we refuse to get involved with their retail sales gimmicks (free appraisals, etc.) CashCall's “no closing costs.” Very deceptive practices and I would never recommend them for that alone. Now I wish CashCall would go away, both remnants of Lie-tech (Ptooey!)

Like everyone, I have done signings for both companies but that doesn’t mean I have to like them. I have never seen a connection with Quicken.

Reply by sigtogo/OR on 5/10/13 5:32pm
Msg #469613

entire pkg fax back required!! TC informed me new Nationstar

requirement that all closings will require full fax back. hopefully it will go away.

Reply by Bear900/CA on 5/11/13 12:11am
Msg #469638

Greenlight transition times to Nationstar

It appears that the purchase transaction between Nationstar and Greenlight Financial Services will most likely close by May 31st.

Conventional Loans
Conventional loans will transition over and will still close in Greenlight's name.

FHA Loans
FHA loans must fund by May 31st. Any FHA loan that does not fund by May 31st must be cancelled and resubmitted with a new case assignment.

Looks like we will see some Greenlight loans trickling through into June.

Will my Greenlight pen that actually lights up in green be a collector's item??