Lookng to Speak With Seller's Bank - Authorization to Release Personal Information?

[Dan Dwyer]

Hi everyone. Please excuse this true newbie and REInvesting virgin. This is the first question I have posted so I would like to thank everyone on this site (except for the few nuts out there) for this amazing free forum and community. My question is: I live in Massachusetts and I was wondering in order to speak with a seller's bank/lender if I need a specific authorization to release information form? Also either way yes or no, where on the internet can I locate the form in question? In closing thanks again to everyone who takes the time to answer the questions of others that are in the need to know. BP is an incredible site full of incredible people!

[Denise Evans]

It depends on the bank.  Most do not have a specific form.  Just write something up called "Third Party Authorization" and have the borrower give the bank permission to speak to you as fully as they might speak to the borrower, about any private or confidential information.  Have the borrower sign, provide loan number, street address, and last four digits of social security number  Safest to have borrower's signature notarized, although not usually required.

Or, banks will usually allow a one-time authorization via phone if you and the borrower are conferenced into the call, the borrower answers some identifying questions, gives you authorization, and then drops off.