Tuesday, July 06, 2010

short sale lender wants buyer docs? why?

This is a first.  We just got a post closing request from a real estate broker for "a copy of the Note, Homeowners Insurance Dec Page and paid receipt, Approval letter from lender or and Amended approval Letter."

Say what?  Why?  What business are these personal buyer documents to the seller's mortgage lender?

Here's my response:

"To guard privacy, we release documents when requested by the principal.  As the documents you are requesting are buyer documents, I need a written request from the buyer directing that we release them to you.  They can fax it to me [724-238-7830] or send me an e-mail."

If the buyer wants to share, I don't care but I do wonder what this is all about.  We read the terms of the short sale prior to close and there is nothing in there which indicates that this documentation is part of the deal.

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