My partner and I are entering a short sale listing with Nationstar and we're both amazed...
Nationstar requires the Seller submit 6 months of bank statements and document any IRA accounts that might be subject to review. We are not amused..our clients never knew this but their loan has lender-backed MI..we were originally informed no MI exists..so much for reliable information. Seller's are relocating so there is a justifiable hardship but these requirements are, to us,are highly unsual.
Have any of you had similar experiences? Are there any variances to these requirments? We have never had a client forced to submit IRA/retirement account information which is subject to the lender review. Any comments/advice will be greatly appreciated.
Handling a NationStar short sale now, only requires 2 months of bank statements.
Don't send them and see if she request them.
We have never been asked by any lender to provide six months worth of bank statements.