Mr. Cooper (Nationstar Mortgage) Deed In Lieu Of Foreclosure

Mr. Cooper Mortgage Deed In Lieu of Foreclosure Process

If you want to go through Deed In Lieu of Foreclosure process on a loan serviced by Mr. Cooper (Nationstar Mortgage) then we at ACG can help you to go through a process that is similar to other companies:

1. To initiate the process of Deed in Lieu of Foreclosure with Mr. Cooper Mortgage a member from our team of professionals will make a call to talk to your loan counselor to talk about starting the process and once we have talked to them the process will be initiated.
2. You will also require the Request for Mortgage Assistance (RMA) package for the DIL Process.
3. They may ask you to first go through a Loan Modification Review before DIL Process.
4. Sometimes you may have to sell the property to someone else first before transferring the deed back to Mr. Cooper Mortgage. They ask you to do this to prevent themselves from the liability of owning the property.
5. You will have to get your property’s title checked as the next step of the process.
6. In next step, Mr. Cooper Mortgage will do a valuation on your property on behalf of the investor.
7.  The terms for timeline and relocation will be negotiated between our team and Mr. Cooper Mortgage.
8. Lastly, your lender (Mr. Cooper Mortgage) provides a response to the deed in lieu of foreclosure made to them.

Unfortunately, it is a lot difficult than it seems in the above-mentioned checklist to go through these steps of Deed In Lieu Process with Mr. Cooper Mortgage. There are a lot of difficulties you have to face through the process with them. But Absolute Consultant Group(ACG) is here to help our customers with Mortgage Difficulties. Often you will have to repeat the same steps again and again during the process. It may be the case that you have been trying for a long time to get Loan Modification from them so maybe they need to review it or close it out. It is also possible that they want you to sell your home first so the short sale department has your file. We are here to do everything for you so you don’t have to do anything. You should be able to figure out when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their deed in lieu application, getting denied, and not being able to figure out what happened. We can help you through the process of doing a deed in lieu of foreclosure even if that means reviewing a decline made by Mr. Cooper Mortgage.

Mr. Cooper Mortgage Deed In Lieu Timeline

The timeline of the Deed In Lieu of Foreclosure for Mr. Cooper Mortgage varies greatly just like it would for any company like it. It varies due to very obvious reasons and sometimes the reason is not clear. These are just a few of the hoops we jump through when dealing with a deed in lieu with Mr. Cooper Mortgage.

• To begin with, Mr. Cooper Mortgage just work to service Mortgage notes and always represent the interests of an investor and have to follow a set of rules for this which is called as “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. These rules make it difficult for Mr. Cooper Mortgage to make the decisions themselves. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers and take care of many of the decisions themselves. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
• Additionally, If your loan has a foreclosure date then this will have a great impact on the timeline of the process. If it has to be like this that the sale has to be stopped so that the process of DIL can be completed then the company can become a lot difficult to deal with. A company as large as Mr. Cooper Mortgage have sale dates for homes for every day of the week so even the sale dates for next week are not worked as urgently as you would like. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
• Finally, not all negotiators were created equally. The fact that makes this more tricky is that this goes for both sides. Even a slight miscommunication can lead to certain failure at this large level. The skill of representing a homeowner during the process of DIL is a very special skill gained only by experience. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are for the banking institution who owns the interest in the loan.

Mr. Cooper Deed In Lieu Timeline Conclusion: The factors on which the timeline of DIL process depends are very wide ranged and are not limited to the ones mentioned above. If Mr. Cooper Mortgage can make a decision themselves then you will see the result a lot quicker. What the lender perceives as the value of the property will also affect the timeline. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast Mr. Cooper Mortgage’s Loss Mitigation department receives the Mr. Cooper Deed In Lieu Forms to apply for mortgage assistance are received (readable) and other factors will come together to affect how long it will take for your Mr. Cooper Mortgage Deed In Lieu application will take to be Approved.

How To Fix A Mr. Cooper Mortgage Deed In Lieu Decline?

Sometimes it can be greatly confusing as to why your application was declined. Mostly miscommunication as the most important reason for decline. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your Mr. Cooper Financials deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

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