NuView Financial Services Provides Agents With Short Sale Negotiation Support
Realtors today face many challenges when it comes to short sale transactions due to delayed timeframes, complicated approval processes, and constantly changing compliance regulations.
NuView Financial Services, an Irvine, Calif.-based provider of loss mitigation services to servicers, insurers, agents and borrowers of distressed residential real assets, has launched a new service to address these problems that real estate agents battle when negotiating, conducting and processing a short sale.
The Real Estate Agent Support Network provides Realtors with a proper exit strategy for a short sale and then assists the agent or broker with a short sale by utilizing the company’s industry relationships with banks, servicers, lenders and government-sponsored entities to accelerate the entire process.
NuView said an important benefit of this network is that it expedites the overall short sale process for real estate agents by providing a single point of contact that is fully integrated with lenders and servicers. Offers are negotiated with all relevant parties, such as a servicer, investor, subordinate lien holders and the IRS, through REASN.
With REASN, agents can verify if a borrower is ineligible for the Home Affordable Modification Program prior to negotiating a short sale. This helps both a real estate agent and broker avoid any type of legal exposure.
The network also has the ability to aggregate and validate short sale packages prior to submitting them to individual servicers or lender. Other feature of REASN is that it eliminates multiple short sale package submissions to avoid any confusion that may slow down the process and provides real estate agents with front-end analytics to determine if a short sale is feasible and what the minimum net proceeds will be.
Another service offered to real estate agents and brokers who use REASN is the ability to use the Foreclosure Assurance Compliance Team. FACT helps make sure that clients are compliant with all the new servicing standards. For example, the team verifies that all short sale candidates have been given the opportunity to see if they are qualified for HAMP as mandated by the Department of Treasury in order to avoid costly penalties.
Chris Sorenson, founder of the non-profit organization USA Help Inc., a homeownership and learning program, has partnered with NuView to launch REASN.
“I have been approached by numerous individuals and companies to partner in an effort to assist homeowners, but they all came up short,” Sorenson said. “NuView is an industry expert with national relationships and expertise to assist with short sales through their REASN program, which completed my search for the perfect holistic approach to those who are struggling.”