Mr. Cooper (Nationstar) Short Sale Application, Forms And Packages

Short Sale Package PDF

Take the first step to getting started on your short sale. Download Forms Here.

Next Steps

Find out what’s next. Make sure you cross every ‘T’ and dot every ‘I’.  No Mistakes!

Other Mortgage Programs

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Get Mr. Cooper's Mortgage Froms

Take the first step to getting started on your short sale. Download Forms Here.

Next Steps

Find out what’s next. Make sure you cross every ‘T’ and dot every ‘I’.  No Mistakes!

Other Mortgage Programs

It may not be too late to try other options. We can review what’s out there.

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Step 1: Mr. Cooper Short Sale Experts

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Finding The Right Short Sale Agent

Finding The Right Agent

The short sale process has many complications. The short sale is a relatively commonly occurring procedure but there are very few people that know how to deal with it properly. This is why finding the perfect experts is very important for the process. if there are any surprises they should be as less as possible. If you have not been able to figure out where to turn to for expert help we have got a large team of short sale experts Nationwide. Click here to request a call from a short sale pro or call 888-934-3444. 

Get The Short Sale Listing On The Market

Get The Property Listed!

In the begining steps of the short sale process, getting your property listed is also included. The lender will expect from you that you work with an agent so that the property gets a fair review. Just bringing the offer to the lender will not be allowed by them. Documents such as the MLS Listing and MLS History will be required as a proof that a property has been properly listed.

The process will not move forward as long as you do not complete this process and usually the first document that you will need to submit will be the listing agreement.

Pro Tip: Many lenders will require you to list for a minimum of 5 days and a weekend before accepting an offer.
NOTE: There are situations where SPS may prequalify you to do a short sale. In some cases they may even go as far as telling you what to list the home as. Know that all of this is misleading because when you get an offer they will still need to do a full and standard short sale review.

Step 2: The Short Sale Offer

Making an offer on an SPS Short Sale is more than just a number!
Real Estate Short Sale Definition

What is a short sale?

When the property is sold in an amount that is not enough to pay off all the debts in ths name of the property, this king of sale is known as short sale. If you don’t have an offer Mr. Cooper can’t review it. The other thing that they will see is what is the net amount you are making them after all the costs etc have been deducted from the amount. Past due taxes, non-recurring closing costs, attorney fees, settlement fees, title fees, and anything else that may apply are all included in it.

Best Short Sale Buyer

Find The Right Buyer For Your Short Sale

Strong Short Sale Buyers

The potential buyers of a short sale should be ready to wait; Patience is important. A buyer that is patient is more important than the all cash buyer or even the buyer whose offer is higher than the others. Your broker will need to interview the potential buyers to make sure that they are solid. Only the buyer is not important but the broker representing is also very important.

Previously Approved Short Sales

Previously Approved SPS Short Sale

To make it look like that the process with Mr. Cooper will be fast some brokers advertise that their short sale was  previously approved by them. Even if Mr. Cooper had approved their short sale in most of the cases a full review will still be required.

Pro Tip: Lenders can only review one offer at a time. The process can be hard and have a lot of hoops to jump through. Make sure you choose the one most likely to close. The highest offer is not always the best offer.

Step 3: Submit Mr. Cooper Mortgage Short Sale Package

Thoroughly review your documents. The wrong information can hurt you!
Mr. Cooper Short Sale Submittal

Submiting Your Short Sale Package to Mr. Cooper To Get The Process Going.

What is in the Mr. Cooper Mortgage Short Sale Package?

Generally the documents required by all the lenders including Mr. Cooper are the same. The documents which will be required a include: a listing agreement, a purchase agreement, proof of the buyer’s ability to perform such as proof of funds or a prequalification letter from the buyer’s lender. That’s only the beginning.

As you are a short sale seller so it will be required of that you provide your financial information such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, bank statements, reason for requiring to do a short sale, and a hardship letter.

Pro Tip: In most cases working with a skilled team such as ours should be able to pick out the items that will most likely be asked of by your lender. If your lender has to request items it’s likely they passed over your short sale when it could have been reviewed.

Step 4: Mr. Cooper Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal

Mr. Cooper Short Sale Value

Getting The Right Value Goes A Long Way.

Only after completing a value that a company like Mr. Cooper (Nationstar) can know whether you are eligible for the short sale or not. The value is completed in majority of the cases by an agent who reviews the comparables in the area. The agent reviews the properties that are listed in the area but more importantly the agent compares properties that were sold within 3 to 6 months. Many conditions are considered while reviewing which include home’s perceived condition, the size of the living space, the size of the lot, how many stories it has and whether or not it has a pool.

Market conditions and how fast homes are selling in the area are taken into consideration. There are many factors that are taken into consideration.

Mr. Cooper Short Sale Appraisal

Short Sale Appraisal Values

The investor which Mr. Cooper is representing will require to complete a broker’s price opinion (B.P.O) by an agent because they are already taking a loss. But, In some of the cases the investor requires a deeper appraisal by an Appraiser. Appraisers have specific licenses that are for valuing properties. Some investors such as Fannie Mae (FNMA) complete two appraisals. The type of value completed varies from lender to lender and investor to investor.

Mr. Cooper Value Disputes and Variances

Filing Value Disputes and Variances

what if the value returns too high? This happens to both the experts and rookies. Sometimes it does not matter how hard you try and meet regularly with the appraiser or broker and help them and give them data that they will use in their report but often they are not from that area and compare properties that have nothing in common

Pro Tip: Short Sale Variance is an opportunity to apply for a short sale servicer such as SPS to vary from their typical practices. Often values are good from the day they are completed for 90 days; Sometimes longer.

Step 5: Finalize Short Sale Terms

How Long Does A Mr. Cooper Short Sale Take

Mr Cooper’s Short Sale Time Line Coming To An End.

Once the lender has received all the values and the complete package it is then the admimistration or the undersigned will decide whether to present the case to the investor or not. Usually an auditting process occurs before presenting the file to the management and then there is another audit before issuing the approval letter

Mr. Cooper Short Sale Counters

Mr. Cooper Counters Short Sale

At this time it is also possible for Mr. Cooper (Nationstar) to counter you short sale offer or reject it. To compete with either of this one needs a special set of skills that comes only with experience. Easy tasks can be done by anyone but it is the difficult tasks that are hard and seperate the experts and rookies.

Step 6: Closing A Short Sale

Short Sale Escrow

Short Sale Escrow.

Short sale is closed in a similar way to as how a typical escrow is closed. Once all the debt has been paid it is possible for you to continue with the regular escrow process. By Now a title search should have been issued to assure that all parties affiliated with the property have been dealt with.

Short Sale Extensions

SPS Issues Short Sale Extension

We get this question all the time that what happens if the approval letter expires and we are not able to complete the short sale process. Honestly, there is not a simple answer to it. It depends on delinquency of the mortgage, whether the value they have expired, and many other details. Consult one of our professionals if you need more time to see what we are able to get approved with Mr. Cooper’s Management. Results may vary greatly but the best part of our services is we only get paid if the transaction successfully closes (we are generally paid from the real estate comissions awarded to the agents involved and paid out of Mr. Cooper’s net).

Pro Tip: Week one. Strike that. Within a few days of having all the approvals in line you should be able to tell whether or not this buyer is going to really perform. The right professionals apply pressure to all the parties involved to ensure the transaction gets done!

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How Does ACG Get Paid?

Absolute Consultant Group (ACG) will wirk with the local agent involved to get your property sold. We are paid from the escrow closing account directly by Mr. Cooper (Nationstar). If your transaction doesn’t close, we do not get paid. The commision that is awarded to the brokers involved in the deal, we are generally paid from that amount. Generally not a penny of the cost of this service comes out of the customer’s pocket. Call for details 888-934-3444.

Understanding The SPS Short Sale Status

If you have seen the Mr. Cooper shortsale package you may have already noticed that it is a relatively lengthy document. Mr Cooper (Nationstar) has not tried to make the process simpler for the consumer but that’s why ACG is here to assist you with your application for the short sale process to get mortgage assistance from your servicer.

Assistance For SPS In America

When you start working with us Absolute Consultant Group (ACG) will become your single point of contact for all your Mr. Cooper related problems. When you will work with ACG, we will become your one stop shop for all your mortgage assistance relief services. We will work with you through all the process from start to finish to complete your short sale with Mr. Cooper.

Call Us 888-934-3444 Today.

Mr. Cooper Short Sale Package Breakdown

What is the Mr. Cooper (Nationstar) Short Sale Package?
It will be a requirement from Mr. Cooper that you submit a Request for Mortgage Assistance form called Mr. Cooper request for Mortgage Assistance (Mr. Cooper RMA). It’s important to always use the most up to date paperwork when applying; Always check with a professional. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their SPS Loan Modification process.

There are 4 Sections to the standard Mr. Cooper Short Sale Package. Having a total of 4 pages

Need Assistance With A Mr. Cooper Morgage?

Need Assistance With A Mr. Cooper Morgage?

Short Sale RMA Package PDF Breakdown:

Hardship Affidavit Application Check List

  1. Page 1  UBAF – Borrower Information and Details – This section basically requires the Nationstar (Mr. Cooper) borrowers to put their contact information and some basic information about themselves. They also ask information about the property and if it is up for sale.
  2. Page 2 Uniform Borrower Assistance Form is the Request For Mortgage Assistance (RMA) Form – Financial Information Breakdown – In this section Nationstar asks for your monthly budget. This includes knowing your gross/net income. In this section include if there are any non-borrower contributors to be considered as part of the budget. Document assets here as well. Bank checking accounts and anything else you have of value. This is the section where you list your monthly expenses covering everything from food to utilities to child costs. This listed the required documentation for all income types.
  3. Page 3 Nationstar Package –  This is the UBAF’s version of RMA Hardship Affidavit where you document when your hardship began. In this section you have to check the box that best meets your hardship. You can also document whether the hardship has passed or if it’s going to be long term.
  4. Page 4  Borrower Acknowledgment and Agreement – read through these statements as Nationstar and their investor will require you to agree to them. Make sure you sign and date the document.

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Disclaimer: Using The Wrong Form May Lead To A Denial

We provide mortgage servicers mortgage assistance package, forms, and applications to for educational purposes only. This is a sample document used to obtain mortgage assistance relief workout programs with your mortgage servicer. Prior to completing the form contact your (your client's) Mortgage's servicing department OR one of our professionals at 888-934-3444 to make sure they are sending the right loan modification or short sale package. Your home loan servicer, whether dealing with a Home Loan Modification or Short Sale (mortgage settlement, short pay off or discounted payoff) RMA Package offered on this website may not be the correct package depending on your investor. By downloading this RMA (Request for Mortgage Assistance) from our website does not guarantee loan modification assistance or any other mortgage relief programs to try to avoid foreclosure through mortgage servicer, its agents, employees, affiliates or subsidiaries. Prior to the use of any documents you should consult an attorney.