Replies to This Discussion

Permalink Reply by Kent Dills on June 18, 2010 at 6:16am

Just write up a letter and name it Qualified Written Request (QWR) and write it like it's from your sellers. In the letter, ask for the name of the investor on the loan. Have your seller's sign it and fax it to the bank. They have to respond to all written QWRs per RESPA.

Permalink Reply by Cami Pinsak on June 18, 2010 at 6:18am

can I scan it in and send to the LM negotiator?

Permalink Reply by Ben Benita on June 18, 2010 at 6:22am

have your client write and sign a letter requesting this:

"Dear _______, I need to know whot he ivnestor is on my note.
Love always
Seller"


it is known as a "QWR" in banking speak, or, qualified written request.....


The lender MUST tell you or be in violation of Section 6 of RESPA (12USC 2605). ANYTHING written and signed by the Seller is deemed to be a “QWR”.

The negotiator CAN answer this:
Is the ivnestor:
Governemetn backed (Fannie, Freddie, etc.)
Portfolio - where Chase is the ivenstor
or
private - these are the ones that can be challenging to learn.

Permalink Reply by Cami Pinsak on June 18, 2010 at 6:47am

How interesting - When I mentioned the specific section of RESPA this would be violating ( in the nicest possible way, of course), she immediately told me it was a private investor and she would be happy to try and get me an extension on my deadline and get the per diem waived....