National Closing Center

Posts Tagged ‘short sale processing 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.

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

Just a quick update on what’s going on with our short sale processing platform. We have made some things simpler and got rid of some redundant features all together.

We have eliminated the broke ID and office ID fields in our initial new member registration form and made it super simple to register. If earlier we used to say it took ‘under a minute’ to become a member of National Closing Center and start enjoying all the perks and benefits of free short sale processing, so now it takes under 30 seconds.

We don’t want your credit card, we don’t want your broker ID or any other sensitive information. Just enter your firs and last name, email and phone number, and you’re in.

As always, the software itself is being updated constantly. Our customer service and our processors and attorneys, however, are the same knowledgeable and reliable people… just the kind of folks you would trust your short sale files to.

If you’re not our member, please register TODAY and let your friends know about NCC.