Nationstar Mortgage

Discussion in 'Community Discussion' started by samiwas, Oct 18, 2010.

  1. macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #1
    I just got notice today from my mortgage company (CitiMortgage), who I have had for almost 5 years now, that they are selling my mortgage to Nationstar Mortgage. I've liked Citi, at least MUCH better than the mortgage company who sold to them...that company was atrocious.

    Does anyone out there have their mortgage with Nationstar? Any issues? Decent?
     
  2. macrumors G3

    QuarterSwede

    Joined:
    Oct 1, 2005
    Location:
    Colorado Springs, CO
    #2
    I've got no experience with Nationstar but don't you hate it when you get used to one mortgage companies system and then they sell you to another. We were with Countrywide until they got bought out by Bank of America. Now we get calls from BOA all the time wanting us to get this service or that. I just want to pay you my stupid mortgage you morons!
     
  3. thread starter macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #3
    I was happy as hell when CitiMortgage bought my mortgage. If I could have fired my first company I would have...the customer service there was so bad, it blew my mind. They changed my payment AFTER sending me the payment slips then saddled me with a non-payment charge when I didn't pay the correct amount. No amount of me arguing that they told me the wrong amount would change their "policy". Luckily Citi bought in less than three months.

    But yes, I hate now having to change the routine I've gotten into with it, and knowing that they were always up to date on paying off all the taxes and stuff.
     
  4. macrumors 6502a

    nobunaga209

    Joined:
    Mar 13, 2009
    Location:
    TX
    #4
    Call the customer care center and request 'By Email ONLY' or snail mail if you're so inclined; this will stop those annoying calls. I was a PM at Countrywide and then BAC for a bit before moving to a smaller mortgage firm.

    OP, you'd be surprised how often this happens in the mortgage industry. To give you some background your loan is packaged with others by specific demographics and then sold to an 'investor' or 'servicing firm'; sometimes this happens unbeknown to the borrower. It sucks from a familiarity standpoint but in your case you may have a better experience dealing with a 'smaller' more hands on type of servicer rather than a mega bank like Citi.

    That being said however I haven't really heard too many good things about Nationstar. :(
     
  5. Moderator

    maflynn

    Staff Member

    Joined:
    May 3, 2009
    Location:
    Boston
    #5
    I was with countrywide mortgate but then BOA bought them out and now I'm with them. They're not bad but I found countrywide was more helpful.
     
  6. macrumors newbie

    Joined:
    Nov 20, 2010
    #6
    My mortgage was just sold from Citi to Nationstar as well. Thus far I am finding it quite annoying. I've been receiving these barely audible voice-mails from them to about my delinquent account. Problem is, after Citi sold my mortgage I never received notice from them. I then finally got a statement from Nationstar with late fee's when I didn't even have an account number. Late fees and credit penalization are illegal for 60 days after a mortgage is sold.

    I just set up my account with Nationstar's website to make my first payment and wouldn't you know I can't pay online without using Westernunion. That of course is another $7 fee per payment.

    WTF!?
     
  7. thread starter macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #7
    I finally called them two days ago, because I also had not received any notices (first one actually came yesterday). Definitely pretty annoying...you have to go through about 19 levels of menu and recorded paragraphs about mortgages before you can ever get someone on the phone. Although the guy did give me another number which I will try next time.

    When I was on the phone with him, he "graciously" waived the **$15** fee to pay by phone, just because I wanted to get it paid before it got too late. He did tell me about the $7 fee for paying online. Ugh.

    Yeah, like I said...I much preferred Citi, as I never had to deal with them except over a property tax issue that was city (not Citi) created.
     
  8. macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #8
    I honestly hate how loans are sold like that. What worse is the ones the buy them up only deal with the banks so their customer service is pretty much non existent and they do not care if they piss you off because what are you going to do about it. It is not like you can take you business elsewhere.

    Now the buying and selling of mortgages is what got us in to this mess.
    They did some studies and look at foreclosure rate of homes by looking at who sold them the original mortgage. Low and behold the ones sold by smaller banks and credit unions that held onto there loans low and behold had much lower rate of for closers. The bank account balance of the people, credit rating were not sometimes worse than the ones they were comparing it with but the places that sold and kept the loans they sold to the people had a much better rate in terms of pay back.
    Reason being is they had a vested interested in the loan from day 1. They would not try to over sell loans to people. They made sure they could afford them and if something did come up those smaller banks were much MUCH more willing to work with the people.
     
  9. macrumors G5

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #9
    Same with me. Can't say which is better, as I hardly ever have to contact them.
     
  10. macrumors 601

    Joined:
    May 22, 2008
    Location:
    Milwaukee, WI
    #10
    +1

    Did our refi during the transition. It took forever, but BoA ended up paying the interest due to their delaying the process.
     
  11. macrumors G3

    QuarterSwede

    Joined:
    Oct 1, 2005
    Location:
    Colorado Springs, CO
    #11
    I've already told them to stop calling and to take us off their list several times. They ring probably 10 times a month no exaggeration. Next time they call I'm going to ask for the manager because it's pathetic.
     

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