At the end of August I posted a question regarding Credit consequences of the Short Sale and received many wonderful replies.  Since then I closed several short sales myself. Every time it was a frustrating experience. Based on this experience I came up with a mini-process for short sale and I give it to my potential short sale sellers and buyers, before they decide to go ahead with it. Here it is:

1. Fax or mail the short sale package (missing a single documents or lender misplacing it can cost anywhere from a week to 6 weeks delay) - I have not found a lender that allows you to submit a short sale package electronically!).

2. Lenders enter your information to their computer system (3 days to 2 weeks)3. Short sale package is sent for review. If you have all documents - it can take up to 30 days. If not - see above.
4. If review is positive - lender assigns a negotiator; you might be lucky and receive his/her name and direct email and phone number; it is much easier from this point (of course this is relative)
5. Negotiator sends an offer letter - we usually are getting 2 to 4 weeks for closing, but as you have seen below - it might be shorter.
6. 48 hrs to COE - a real headache. You go back and force to the lender and hope for the best. 

At the same time I have recently heard from a few colleagues that their short sales were much less frustrating and lenders were more responsive. Have you noticed it on your short sales? As volume of short sales is increasing, do you see improvement in lenders response or just opposite - lenders are getting slower and slower.  I would appreciate if you could share your experience.