BankUnited, along with becoming defunct, has ceased completing it’s many of its own internal servicing procedures it has offer its investors in the past. One of the latest is that they are no longer processing short sales. In a strange turn of events BU is now working with a 3rd party service provider Nation Quick Sale to complete these arrangements.
As an interesting anecdote, BankUnited’s own short sale negotiators have actually been hired on in order to keep this new company from missing a step. National Quick Sale is in no way affiliated with the lender in regards to ownership as to what was explained to us other than being a new outlet for processing transaction.
This has all been taking place over the last couple of months in phases but it seems to be coming to an culmination where almost all the files are being referred out now. We have seen that having already establishing relationships at the servicer provider we are being able to process more cases with Bank United than ever before; which thus far isn’t really saying too much.
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