Hi Superstars!  I am working a GMAC HAFA through Equator.  Just uploaded an offer which triggered a task asking for completion of a "Loss Draft Funds Balance letter".  The homeowner has not filed any homeowners insurance claims against the house nor is the house damaged in any way.  Anyone know what's going on, or is this standard operating procedure?

Brenda Wood

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Hello Brenda, I just completed a GMAC short sale and my seller signed the form. This form is to make certain that if the seller receive any proceeds from their insurance company then they will need to sign it over to GMAC. It seems to be their standard form for GMAC's protection.

Thanks for your quick reply! That was my initial thought since it was a task automatically generated...

Here is a copy of it for you in case you dont already have it. It may not be applicable to your client but its standard procedure  They should have emailed it over when the task was triggered.

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