I could not locate any new deed in lieus with NationStar in the forum. But I found some old posts from members 2-7 years ago who were attempting a DIL. Not sure if you saw these or how their attempts turned out, but you may want to leave a message on these threads asking what ended up happening.
I am new to the forum and still catching up on reading. This may be covered elsewhere.
We just offered Nationstar a Deed in Lieu a couple of months ago. They declined immediately.
Their position is the property has to be habitable. Our home was damaged by a natural disaster and it is no longer habitable. The cost to repair is beyond our means. I read the servicer guidelines, news releases and handbooks and nothing in them says the property must be habitable on our type of loan. It is important that you know what type of loan you have and you can find that out on MERS ID website.
Deeds in lieu are rare. Here is what I believe is the reason. When an original lender pools the loans and delivers them to Ginnie Mae, they have to enter into a servicing agreement. They can delegate most of it to a subservicer, but the original lender is on the hook at first. That original lender has to guarantee the monthly loan payments (principle and part of the interest) to Ginnie Mae's investors. Each and every month, whether or not the borrower pays the loan payment, the original lender (as Master Servicer - or the Subservicer) has to forward that money by about the 25th day of each month. So, YOU might not be paying the monthly loan payments, but they are! If there is a foreclosure, they can have the original Ginnie Mae participant (like the VA or HUD) buy back the loan. They have it appraised or get a broker price opinion just before the Trustee Sale. That is the price they bid. Then they discount about 16% (published in the Federal Register) for costs of administering an after foreclosure sale. When they take your deed in lieu, either the Master Servicer or the Subservicer is stuck with the deficiency! So, they would rather wait and see if the market will recover at least something in your area. They would rather not "lock in the loss." If they take a deed in lieu, it locks in the loss.
My understanding is the process for a deed in lieu is not complex or difficult. There would be an agreement to sign and a quit claim deed from the borrower to the holder of the note. Fannie Mae guidelines state they want 20% of the borrower's cash assets as a "contribution" along with the deed in lieu. Washington courts have issued an opinion that a deed in lieu satisfies the entire loan obligation in Washington; without a contribution. With a VA home loan, there is a Code of Federal Regulations provision that states a deed in lieu is in full satisfaction of the debt. The VA Servicer Handbook is in accord with that. So, the complexity of a deed in lieu might depend on what kind of loan you have and whether or not Nationstar knows the difference. It is important that the subservicer does not apply VA standards to a Fannie Mae or Freddie Mac loan and vice versa.
Another reason Servicers do not like deeds in lieu is because they are reported to the credit bureaus as "Paid in Full." A short sale or a foreclosure is not reported as "Paid in Full."
The governmental entities have put deadlines in the guidelines for when a foreclosure must be completed. In Washington that is 660 days from the date the last full payment was due and timely made to the date of the completion of the Trustee Sale.