Banks That Allow Assignment of Contract?

[Tony Green]

Anyone have any success in a bank allowing you/your investor to assign a contract? I have heard through the grapevine that Wachovia will allow it, but I don't know for sure. A local Realtor associate told me today that it is against federal banking law, but again I don't know if this is true or not. I have a current REO offer on the table with "and/or assigns" on it, but haven't gotten approval from bank yet. Anyone have any experience with this?