Letter of authorization

[Dan Romero]

Hello BP,

What exactly is a letter of authorization? I believe is used to give you access to have a title search done on a property but I'm not sure. Can someone clear this up for me.

[Karen Margrave]

Dan Romero Welcome to BP! Glad to see you're jumping right in and asking questions.

It would depend on the context in which it was asked for. In the business of wholesaling? Maybe K. Marie Poe or Jon Klaus can help you.

Also, would you consider uploading a pic for your profile. Having pics on gives the site some character. Thanks!

[Wayne Brooks]

The most common context is giving a lender authorization to discuss your loan details with a third party(real estate agent, negotiator, etc), usually in a short sale situation.

[Account Closed]

An authorization to release info. (ATRI) is used when you need to speak or negotiate with the lender about the loan. The lender won't communicate with anyone but the borrower(s) about the loan unless you have a signed release form the borrower. The form usually includes the borrower name, address and contact info, loan numbers and SS#s, and the name and contact info of the person being given authorization, and is signed by the borrower(s). It's usually faxed to whatever depts. at the lender need to see it in order to speak with you.

Title searches and payoff demands by escrow are typically done without any authorization from the seller/borrower where I am. Sometimes, however, if the situation with the loan is complicated, they may need such authorization.

[Dan Romero]

Thank you everyone for the responses, it was extremely helpful. I will be posting a pic as soon as possible.