Listing a property with a NationStar Mortgage?  Have your Sellers order a payoff the day you list the property.  When you open escrow have the Escrow Officer request a new payoff.  It will make your life so much simpler. 

I just learned that NationStar Mortgage manually calculates their loan payoffs!  If you are looking for a payoff for a loan with NationStar you need to give them 3-10 days!  

NationStar does have onlineand/ instructions for ordering a payoff but we have just learned by experience that  requests submitted online or by fax are not always "received" and although on our end we have have confirmation of sending the request, at NationStar sometimes it takes a day or two to get those requests "in the system" which is the start date of the "processing period".  And heaven help you if you are in a time sensitive situation!  There is no way to "expediate" a payoff, and per their customer service department ( which by the way looks like it is outsourced) the payoff department does not "have phones" or a "manager".  

I have to laugh even though this is so stressful. In my minds eye now  when I picture the payoff department at NationStar .... I see  a room with no windows, rows of folding tables and a "room monitor" at the head of the room.  Silence with the exception of a pencil being sharpened and someone clearing their throat every now and then.  Heads bowed over yellow pads and pencils.  No calculators.  Old school...math done long hand.  And if you have to "go" raise your hand and wait to be excused!   

And I am supposed to feel good about the final payoff amount that NationStar will be providing?  Honestly I think I want to see their math to make sure that they haven't made any errors!  Are we supposed to blindly trust their manual calculations???

We were scheduled to close yesterday which was the estimated date for the payoff to be released per NationStar customer service  (wha wha wha...) so we have extended our contract and escrow and we are all waiting!  

This is my NationStar "trial by fire" and I wanted to share it with others in hopes that they don't have to go through what my Selling Clients, the Escrow Officer, the Buyer,  and Buyer's Agent are all going through right now.  Time is of the essence so I pray that we can get this closed in somewhat of a timely fashion for all concerned!    

 

 

Deb Dahlberg-Rowland  REALTOR®

Stanberry & Associates, Inc.
512/743-0516 direct, 888-716-1477 fax
 
Residential*Farm and Ranch*Waterfront* Luxury* Vintage*Historical*Eco 

Equestrian subdivisions*Horse Friendly and Developed Horse Properties

Licensed to do business in the state of Texas by TREC License # 0553954


 

 
Post is included in group: Diary of a Realtor
Post is included in group: Texas Real Estate

2 Comments on Manually computing payoff amounts in this day and age....Really?

AUG
04
1 Featured Post

WOW, a lesson to be learned. I am licensed in TX as well as WI and sometimes it's hard to keep things separate but this will surely help in both TX and WI. Good luck on your closing and by the way are the trees growing back in Bastrop? We lived in Wimberley during the fires.

6:36am • #1
120,070 Points 1 Featured Post

Hi Cheryl - Bastrop is recovering. I recently blogged with pictures on how Cottletown Road in Bastrop is recovering if you are interested to see!  Love WI I used to summer there at a water skiing camp at Three Lakes! 

7:02am • #2

Login or register to leave a comment

 
Deb%20stanberry%20professional%20image%20head%20shot Rainmaker_large

Deb Dahlberg - Rowland

Bastrop, TX

More about me…

Stanberry & Associates, Realtors

Address: 111 North Hasler Boulevard, Bastrop, TX, 78602

Office Phone: (512) 743-0516

Email Me

Deb blogs about the business of real estate, horse properties, new listings, farm and ranch life, life with horses, things to do, and places to go in, and around Bastrop County, and surrounding Counties near Austin Texas


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find TX real estate agents and Bastrop real estate on ActiveRain.