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National City
Short Sale Report
| Time to Acknowledge |
Time to Approve |
Commissions | Full Release Available |
Comments |
| 3-5 days | 45-60 days | 5% | yes |
1sts - We don't run into a lot of National City 1sts. Those we have handled have gone well. I think that is because National City saves all their unpleasantness for those who ask for help on a 2nd.
2nds - Greentree now handles their seconds. Expect long hold times and at least a week to return calls. Just plain not nice most of the time. National City speaks of the cross training of their staff (collection and loss mitigation), well I can tell you which side it feels like most come from. Working with National City is frequently a reminder why it's nearly never a good idea to speak with anyone's collection department. You will want to prepare yourself for a real battle to get a fair result for your client. Always be polite and respectful, but with National City you will need to be tough as well. In the end National City demands 10% cash recovery on 2nds, regardless of your circumstances. No ideas on where to go get the money, they just want it..
Comments
In current dealing with National City as second lien holder..they are the most discourteous, unpleasant, unprofessional group of morons..They neither hold true to their negotiations ...They need to be retrained on their office ettiquitte..and remember the seller didn't beg for the loan he couldn't afford the bank gladly accpeted him as a loan
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