Replies to This Discussion

Permalink Reply by Nina Sloan on March 15, 2010 at 4:46am

Consent for in what respect? Need more information please.

Permalink Reply by Karla Leahy on March 15, 2010 at 4:57am

I attached the form for review. exactly not sure what or who is consenting. unless it's the borrower from the loan at WF

Nina Sloan said:

Consent for in what respect? Need more information please.

Permalink Reply by Ben Benita on March 15, 2010 at 5:10am

what do they mean exactly by "consent form", do you mean an authorization to release information document? If so, why would they need one for the second lien.....does not make any sense. Tell me a little more, i can help you figure it out.

Permalink Reply by Karla Leahy on March 15, 2010 at 7:17am

I attached the consent form and this is what the negotiator referenced: "Additional Lien Holders Consent Form (attached) - if applicable - I need the lien holders contact information (name & number), current balance and loan number."

Permalink Reply by Ben Benita on March 15, 2010 at 7:31am

This COULD actually be a blesing from God himself!!! It reads as though the first lien will be handling negotiations with the second lien....this would be EXCELLENT and save you TONS AND TONS AND TONS (you get the point) of headaches.

i would have your client sign this and send it tothem ASAP!!!

Permalink Reply by Nina Sloan on March 15, 2010 at 7:40am

From Broker Agent Social (e-newsletter):

"The negotiator explained that the investor who will be approving the deal will be pulling my seller’s credit information to verify that the seller also stopped paying other creditors."

This explains why your form is worded as such. I was uncertain as to where they were going until I read this article today.

Maybe Wells is doing the same thing.

Permalink Reply by Karla Leahy on March 15, 2010 at 8:00am

wow that would be a blessing! already signed and sent! thank you!

Ben Benita said:

This COULD actually be a blesing from God himself!!! It reads as though the first lien will be handling negotiations with the second lien....this would be EXCELLENT and save you TONS AND TONS AND TONS (you get the point) of headaches.

i would have your client sign this and send it tothem ASAP!!!

Permalink Reply by Karla Leahy on March 15, 2010 at 8:01am

maybe. this will be my borrowers 2nd soft credit pull.

Nina Sloan said:

From Broker Agent Social (e-newsletter):

"The negotiator explained that the investor who will be approving the deal will be pulling my seller’s credit information to verify that the seller also stopped paying other creditors."

This explains why your form is worded as such. I was uncertain as to where they were going until I read this article today.

Maybe Wells is doing the same thing.