C.A.R. lender satisfaction survey finds short-sale process still broken; lenders make no material improvement

LOS ANGELES, CA – August 5, 2011 – (RealEstateRama) — More REALTORS® characterized closing short-sale transactions as “difficult” or “extremely difficult” than late last year, indicating that lenders’ and servicers’ short-sale procedures have shown little improvement in the past six months, according to the latest Lender Satisfaction Survey conducted by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).