Citi Mortgage is always adapting with the Times….
ByCiti Bank is one of the most “forward looking” REO accounts that we have. In fact, there are not very many REO managers or Banks that even ask the “agents” what they think about the way in which business is done.
In fact, to date, Citi is the only institution that Paris and I work with that has had several round table meetings (on the phone) but still, everyone had a moment to put their two cents into the conversation. After it was over, we were all better from the sharing and Citi was as well.
They are about keeping the neighborhoods where their properties appear, in good shape. Not showing a home like it is a Foreclosure. But by keeping the neighborhood clean, neat and without attracting the squatters that are looking to “caper” in distressed neighborhoods.
Forward thinking brings me to this. All I have to say about this information email is that “it is about time”.
“Citi Mortgage is pleased to announce a new initiative with Nationstar Mortgage for seller financing on Citi’s REO managed inventory. Nationstar Mortgage services over 180,000 accounts totaling $24 billion and is a licensed lender within the continental United States. Nationstar Mortgage is an approved lender for Freddie Mac, FHA, and Fannie Mae (including the Home Path product). Your inclusion on this message indicates that you have at least one active listing with Citi Mortgage that could qualify for this program.
Nationstar Mortgage has a staff of loan officers, processors, underwriters and closers dedicated to the Citi team. Their staff has a history of origination on REO assets and understands the importance of meeting critical timelines. In an effort to decrease mortgage fallouts and delays, Citi will now require buyers that make an offer that is subject to financing to complete a pre-approval loan application with Nationstar Mortgage… Buyers are required to call 888-820-0168 for pre-approval, information on loan products and other lender related questions. The Buyer is not required to finance the purchase with Nationstar Mortgage.
Nationstar Mortgage offers quick turn around times, same-day decisions and guarantees the buyer pre-approvals to be completed within two hours…
Citi Mortgage appreciates your cooperation in launching this new initiative with Nationstar Mortgage.”
There you go folks – that is why Citi never sleeps!!!!
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