One of the first items an agent will need is to get a Letter of Authorization signed by the owner. This authorization when faxed into the lender will allow your agent the authority to speak with the lender regarding your loan. This does not give the agent the authority to make any changes to your loan.
What I do: First fax in this authorization along with a letter requesting information on owner assist programs, status of the loans, payoff information and short sale requirement package to be faxed back to me. I first give the lender time to circulate it to the correct department and contact person, then I call to verify that they received the fax and if they have authorized me to speak to them as a follow up.
Once I received the information I requested, I will notify the owner.
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Date:
To Mr. Lender:
(Supply your Social Security #, Mortage Company and loan #s, Address of Property)
SUBJECT: Letter of Authorization
Please accept this letter of authorization allowing _____________________ (agent's name) to speak to you regarding my loan(s) with your organization. ___________________ are attempting to gather information to see how they can help me in resolving the default situation of my loan(s). This will include balances, payment history and procedures for resolving the current status of the loan(s) I have with your organization, and any information that ____________ ask you for about my loan(s).
If you are not the correct contact for this authorization, please forward this to the property contact and inform my agent of the correct contact person.
Contact information for my agent is listed below.
Regards,
____________________________ Signature and print name and date.
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*************************************************************************
The Mother and Daughter Realty Team
Rosemary Brooks (DRE # 01336351) Realtist, CDPE, HRC, CDSP, REO & HUD Certified
D'Adrea Davie (DRE# 01510971) Realtist, CDPE, HRC, CDSP, REO & HUD Certified
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Rosemary Brooks & daughter, D'Adrea Davie - The Mother and Daughter Realty Team specializes San Joaquin Central Valley, Stockton real estate, Homes for Sale, Housing: Stockton short sales, Lathrop short sales, Tracy short sales, Manteca short sales, Lodi short sales, Mountain House short sales, Salida short sales, Ripon short sales and Modesto short sales.
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Rosemary
It would seem like you have your share of short sales
Tom
My seller was just asking me if I had a sample letter of authorization, so this verbiage helps! Thanks again for sharing here on AR.
Rosemary, needed to see someone else's letter of authorization. Thanks so much for posting it.
thanks for sharing. This was something I really needed. blessings for a great day.
Thanks! You are a doll for sharing!
Great idea. I can use this as guide on how I will write my <a href="http://theletterheads.net">Sample letter</a> about sales. Helpful tips you got here. Thanks