Lenders are taking heat from buyers, sellers and Realtors® for the length of time and complexity involved in going through a short sale. You’ve probably got your hunches about which banks are the worst to deal with and which ones take the most time to complete a transaction. Well, HousingWire magazine recently published a list ranking selected major mortgage servicers by how quickly they conduct short sales. Here’s the scoreboard:

  • Quickest: GMAC, averaging about 6 months per transaction
  • 2nd fastest: CitiMortgage, about 7.5 months per transaction
  • 3rd place: Wells Fargo, roughly 8 months per transaction
  • Last: Countrywide (Bank of America) at 13 months per transaction

Any surprises?