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Why would I want to list properties for Nationstar? They just listed a property in my local MLS, and are offering 1% to selling agent, list agent gets a whopping 1.75%, meanwhile they get 3% referral and get this, they charge a 5% premium of the purchase price to the winning buyer. Offering 1% to local realtors is not going over well, many pissed off realtors. Not only that, it despite what the BPO's said (at least mine and the listing agents) they underpriced the asset by at least 20,000. I say why not price it right and offer a commission that won't make agents hate you?
Solutionstar is an affiliated with NS. The have been affiliated for some time and I posted this a few years ago.
The news is really that they are now going to introduce a new will "revolutionize the way real estate
The statements below are from the announcement.
"Nationstar further announced plans to rebrand the Solutionstar segment as Xome, fitting in the with company's efforts
to rethink the residential real estate marketplace. Xome focuses on the digital experience for residential real estate,
comprising a search platform, data that includes more than 85% of all active MLS listings and a transactional
The Web and mobile platform will also aid consumers in finding an agent, procuring a mortgage and closing
transactions. Nationstar added that it hopes to integrate a home valuation model into Xome as well.
Nationstar chief executive Jay Bray said that the company believes Xome will "revolutionize the way real estate
So it is not that they are going to stop the insanity ......they are just going to add to it. With the statement of the 85% of all MLS listings etc. ... with that NOW NAR / the MLS will get involved...now it is this big profitable giant who's income is going to be touched not just some little ol REO agents . I think I see litigation in the future here just like the Zillow case. I could be wrong but we will see.
Do you thnk it is a coinencidence that Solutionstar is switching from Equator, owned by Altisource, to a ne site Cascade next week ?
I think none of it is a coincidence. I just can not believe these companies/ lenders / servicers are getting away with all of this. Is the Fox guarding the Hen house ?
That's correct, Hugo. Ocwen gave up being a bank a long time ago due partly to the banking regulations. Of course, due to the new regs on servicers, this may no longer be the case. They spun off Altisource as a wholly 'independent' company to handle their REO but had interlocking directories. That finally got the attention of the NY attorney and started all of these investigations. And both of the stocks have lost a ton of value.
Some people say they must be exempt. I say they are flying under the radar. I think it is only a matter of time before we see these spin offs caught and severely fined.
Altisource has their own agent in house as most of us know. The one for Ohio services 5 states. For the first five years he was in an office in Steubenville Oh and all phone calls went directly to Altisource. He did not have a broker in his little office at that time by the way and He had no Brokers license at that time. They used an affiliate disclosure with Ocwen. Then people began questioning things and he got his license and the Brokerage name changed to what it is now. He claims no connection with Altisource and claims to be independent. Yea well we all know that is silly BS.
As far a NS goes I sold many NS properties. All of the addendums were BAC addendums. Now why is that? Same with Champion and a couple of other companies. All BAC addendums.
Ocwen and NS are "servicers." The law was to keep banks out of Real Estate. These spin off "servicers" who are affiliated with these lenders are now in Real Estate big time. The idea is when a lender is allowed to broker Real Estate the public is not being given a fair and independent transaction.
So lets see..... NS services , also forecloses and then sells the REOs. Ocwen services many other lenders loans, then also handles the foreclosures and then also sells the REOs .
Many of the loans originated when Ocwen WAS the lender in 2005 and before are now REOs and Ocwen is now selling them as REOs.
No way is all of this ok. No matter what anyone wants to believe or say BANKS are now in Real Estate in a big way. BAC does mortgage loans and also sells REOs. How can we say it isn't so when many of us have sold BAC in the last few years?
This is not for normal listings. Most are in not the best of shape. but to take pics, enter a small description and up load to their auction site. Unlock the doors two Saturdays for puplic showings.
Cash or Conv offers only. Priced for quick sale