National Closing Center

Archive for the ‘Short sale processing platform’ Category

Last week we wrapped up one more successful SSRP seminar, this time in Palm Springs, CA. SSRP seminars are the answer why our blog has been a little bit neglected lately. Putting these events together while RealtyProx was making updates to their software (which we take pride in using) proved to be quite a challenge.

So far, SSRP has been to Miami, Chicago, and Palm Springs. Next month, on April 23rd, we’re headed to another fine city–Houston.

The collaborative between RealtyProx, National Closing Center, Don Maxwell with 24 Asset management Corp. and Legacy Opportunity Foundation is growing into a formidable force. If you’re serious about getting into short sale business before it’s too late, we can’t recommend you this enough: become a part of our program, start receiving short sale assignments, and help your community!

What do we offer? And who are we anyway?

RealtyProx, National Closing Center, Legacy Opportunity Foundation and Don Maxwell (VP, 24 Asset Management Corporation) have formed a collaborative. Our goal is to help the American homeowners transition this current real estate market with dignity, knowledge and access.

Check out www.repositioningthedream.org to learn more. (Please note, this is NOT the right website to register for the upcoming event in Houston. Look for the right website at the bottom of the message.)

What’s in it for you, a real estate agent/broker?

Short sale assignments. Leads. Bonus classes. Exclusive content/trainings and more.

How do we get the short sale leads?

1. Bishop Rodney Sampson coordinates the faith-based initiative. His organization signs up churches and community organizations across the country.

2. They organize seminars, send emails, call their parishioners and let them know about foreclosure alternatives.

3. With the help of attorneys and non-profits, we identify homeowners who could benefit from short sale the most.

4. We assign these leads to SSRP Certified real estate agents in five states, including Texas.

This is unique, clear and transparent!

The bottom line

We have real people with real mortgage problems that are ready to do a short sale TODAY. All we need is a qualified real estate agents! The only way to join the program is to attend our live event in Houston.

What to expect in Houston?

- Special meet-and-greet with REO expert Don Maxwell, who says you shouldn’t touch another REO .
- Learn from the best short sale and HAFA specialists.
- Learn the truth about the direction of the real estate market.
- Get familiar with revolutionary short sale technology.

Register today and secure your seat!

We’ve received a lot of emails from agents stating that they were not able to register to our latest webinar Efficient short sale processing: How to work LESS and close MORE. We estimate that about 50% of all invitees were not able to get on board due to email clients blocking links very aggressively.

Here’s just the link, no images or anything additional, it should work: https://www3.gotomeeting.com/register/751496574

Please register by clicking on the link. We apologize for the inconvenience! Feel free to pass the link to your colleagues or anybody who you think might be interested.

Thanks for your interest in National Closing Center and we look forward to seeing you at the webinar!

If you are attending IAR Convention and Expo at the Pheasant Run Resort in St. Charles, we cordially invite you to stop by the booth #607.

Learn about free short sale processing services, best short sale mitigation software and DON’T forget to ask us about BPO orders and short sale leads.

National Closing Center will soon start accepting registrations for valuation experts in Illinois. Be one of the first to learn all about it and get your name in the hat!

NCC is not (only) about short sales anymore…

Collecting all the documents from a seller and uploading them into our web-based platform is agent’s responsibility. Most likely, you, the agent, live in roughly the same area as the seller. You have to meet the seller at least once in order to have the Listing Agreement, Sales Contract, and several other important documents signed by him or her. Thus we believe it only makes sense that you would pick up the rest of the documents (like hardship letter, financial statements, mortgage info), and upload them into our web based platform.

Essentially, today’s tip for you is to PAY ATTENTION to the docs before you upload them.

Make sure:
– you check whether all required signatures are there;
–you check whether seller’s and buyer’s names are spelled correctly;
–you avoid unnecessary abbreviations; use names or titles (Seller, Buyer) instead;
–all pages are there and nothing is missing;
–you avoid lengthy generic .pdf documents.

Instead of combining all financials into one multi-page file, naming it Finacials.pdf and uploading in into Other Documents section, separate the file into multiple documents. This way, you will have Hardship_Letter.pdf, PayStubs.pdf, 1stMortgage.pdf and so on. Obviously, you don’t have to name the files in exactly same manner as in this example, as long as you name them ACCURATELY and upload them as separate documents into appropriate sections. If you can’t find a good fit for your document, upload it into Other Documents section.
WHY all of that is important? SAVING TIME and CLOSING faster.

If you need to re-uplaod the docs and contact the seller over and over again, you are wasting your time and delaying the short sale process.

Our recommended time to upload all the documents into the platform from the moment you have a processor assigned is 5 business days. If you can do it faster, excellent; if you take more time, it’s fine, but please bear in mind that a short sale package will be submitted to the bank later and actual processing time is going to be longer.

We are very SERIOUS about sending a complete package to a lender from the get-go. Our processors are instructed not to send the package if something is missing or incorrect. Thus, you will be requested to upload all the docs or the process is going to be stalled.

Check out the screenshot below and see how different financials are separated in files and uploaded into different sections of the platform.

Communication is critical while processing a short sale. The sole purpose of having all these statuses for your files (e.g. Collecting Short Sale Documents, Submitted to Lender, Approved…) is to determine their place in a timeline that starts when a lead becomes a short sale and ends when the short sale is closed.

As soon as a processor is assigned, the clock starts ticking. Nobody likes to waste their time, so let’s make sure all parties are communicating and responding.

If a processor notices that some documents are missing, he or she will post a note in the status update and most likely send you a message through the platform. It is critical that you check your email for notifications coming from NCC and then log into the platform and read the status updates and your messages. Pleas use the internal messaging system if you have any questions and respond to your processor’s requests promptly.

As you can see from the screenshot below, there are three ways that users of the platform can communicate.

1. Check Notes section for status updates.
2. Respond in a new message from the Messages section.
3. Send an email from Send Email section.

We encourage you to use these methods of communication rather than simply sending an email from your regular email client. The reason for this is simple: nobody sees sent emails from your regular email client except of you. However, whatever happens in the platform, stays in the platform. This way our quality control managers can track the chain of communication and fix any “broken links.”

Just a reminder that Send Email section in the platform works exactly the way your regular email client does—sends emails to other people’s emails; even if your recipient does not use our software and is not a member of NCC. The crucial difference is that whatever is emailed or received from the platform, conveniently stays here for everyone involved in the transaction to come back and review.

Once again, we want you to take a full advantage of our short sale processing platform; at the same time we want to be able to process your short sale as quickly as possible… So, please, let’s use the platform as our tool, but don’t forget that its purpose is to help us communicate with each other.

Once you have converted your lead into a short sale file, don’t forget to consult a very important document—Required Document List from Listing Agent. It’s a pdf file located in Document Forms>National Closing Forms. It lists all documents that your processors needs in order to submit a short sale package to a lender. The sooner you provide these documents, the faster you will see a file status change from “Collecting SS documents” to “Submitted to Lender.”

We hate delays as much as you do… so let’s avoid them when possible.

We recommend a self-imposed 5-day deadline to finish collecting documents. In most cases, 5 days should be enough to get the documents signed by the borrower and upload them into the platform.

If you are located in Illinois, don’t forget to download Attorney Engagement Letter, have the borrower sign it and upload it back into the platform.

Want the process to go even faster? Make sure you upload the documents exactly where they belong. If not sure where a particular document goes, upload it to Other Documents section.

If you’re scanning documents and then uploading pdfs, please create a separate pdf for a different document. For instance, instead of naming a file TaxReturns.pdf and including tax returns and pay stubs, make two separate pdf files and name them Tax2010.pdf and PayStubs.pdf respectively.

Check out the screenshot below for the location of the above-mentioned pdfs.

Introduction to Outsourcing Short Sale Processing

Join us for a Webinar on July 13

This is a concise live webinar that covers all steps necessary for successful short sale processing.

As a real estate professional you are used to being on your own and relying on your own hard work. Why? Because you know that often times delegating job means having poor results or no results at all. During the webinar, we will explain why this approach does not apply to short sale processing.

Also, we will cover:

Space is limited.
Reserve your Webinar seat now at:
https://www3.gotomeeting.com/register/283340326

Attention all short sale processing platform users!

If you tried to log on to our short sale processing platform lately, you might have encountered a message warning about the “Untrusted connection.” This is due to the fact that we are in the process of updating SSL (Security Sockets Layer) certificate to the more secure one. Because of the miscommunication with our partners, a gap between the certificates occurred. The issued should be fixed approximately within the next 24 hours. The gap between the SSL certificates, however, does not mean that the connection is “unsecure”, but rather “less secure.” It is safe to log on to your account as long as you use a non-public Internet connection.

For the time being, we recommend that you do not attempt to log into your account from coffee shops, book stores or similar unsecured public wireless hot spots. That being said, it is safe to log on and check the status of your files from your office or home, as our IT team is monitoring all the activity very closely and working on resolving the issue.

As you can see in the picture below, you have a choice of clicking on “I Understand the Risks” link. After doing so, you will be taken to your account.

We apologize for the inconvenience that this may have caused and we will let you know when the SSL is successfully updated.

Sincerely,
National Closing Center