For Agents, Brokers, and Investors:

Lender Processing
If you have ever attempted to sell a short sale on your own, you understand the number of phone calls it takes to get the attention of the lender. With short sales on the rise it will be even more difficult. NM Processing has experience with many lenders and can help move your short sale to the top of the lender's pile. Don't spend hours a day tracking down lenders when we have experts to do this for you.

NM Processing is a high volume short sale processing company. Our experts specialize in assisting real estate professionals and real estate investors by taking on the tedious tasks required during short sale processing. We share in the risk of short sales by providing our short sale processing services at no upfront cost to you.

 

No Up Front Fees

  • You provide us with a completed short sale package
  • We only communicate with you and not directly with the seller(s)
  • We handle all lender processing from start to finish
  • No upfront fee. $995 paid at closing.

From the Agent:

  1. Listing Agreement
  2. MLS Printout
  3. Comparable Properties --  These will help determine a lender acceptable short sale price.
  4. Copy of signed Purchase Agreement
  5. Copy of Title Report
  6. Setup Escrow and send us the HUD-1 -- These steps can be completed by NM Processing, LLC if you use one of our partner escrow companies.  Otherwise, these documents need to be provided to us.
  7. Signed NM Processing Contract for Professional Services and Fee Agreemen
     -- Contact us for a copy of these documents.

From the Homeowner:

Collect from all persons on title:

  1. Signed consent documents allowing us to process with lender and share personal information with lender.
  2. Copy of recent mortgage statement for all lenders.
  3. Copy of any delinquency notices, notice of trustee's sale, notice of default and any other documents that seller has received or will receive from the lender
  4. Hardship letter: A letter that states the events and reasons that caused the owners to not be able to make the house payments.  There must be a hardship case for a lender to consider a short sale.
  5. Bank Statement: Last (2) months bank statements from all the banks where the owner(s) have accounts.**
  6. Financial statement: A statement that shows all the income sources, savings, assets and expenses of the owner(s). (Call us first.  Some lenders have their own workout documents they wanted completed so you may not have to complete this step).
  7.  Tax Returns. Last two years federal tax returns**
  8. Pay Stubs.  Last two months**
  9. List of 6 months Profit and Loss (if self employed) 

**If the seller(s) do not have these items, a signed and dated letter explaining why must be included.

The following items are optional but can help with processing with the lender:

  1. Insurance Claims Proof when there is damage in the property.
  2. Bankruptcy Letter or proof of bankruptcy proceedings.
  3. Proof of Divorce. Any document that proves divorce.
  4. Court Approvals. Any court approvals needed for the sale of properties in case of owned by a diseased person.
  5. Proof of Disability if person is presently disabled.
  6. Any document useful that may demonstrate inability to keep up with mortgage payments.
  7. Police Reports in case of property damaged by fire or similar event.

May be required by lender:

  1. Buyer Pre-Approval Letter
  2. Lender workout form -- Similar to our financial statement but with specific questions by the lender.
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