Having problems getting info from the lender

I faxed a signed release for authorization of information to a lender for a potential deal over 2 weeks ago. After giving me the runaround, they now say they’ve received it, but that it’s not “approved”. I asked what the problem was, since it is signed and dated by the borrower, they said “just because it’s signed doesn’t mean that we’ll approve the authorization to release information”. WTF? Anyone ever encounter this? Are they even allowed to do that? It’s a pain in the *ss to get on a 3-way call with the borrower and the lender (she works as a nurse during the business hours of the lender, so she can’t be on the phone with me). Any ideas?

As you said yourself, dealing with the banks is a pain in the ass! Bunch of stupid, spineless pencil pushers.

explain the situation to the lender & ask them if they would prefer
the notice of authorization be done with a notary public. :banghead
that would make it official as far as proof of who actually signed the
form. it seems you & the lender have a lack of communication.i think they are saying , all well & good-big deal-so you got the form signed
, we need proof of who signed it & that still dont mean we have to SS. that’s our decision ,& they would be right ,if this is the case.
although it’s cutting off your nose to spite your face !!
OR you spoke with an idiot in a loss mit dept that was recently
formed. this can be the case , especially in smaller banks or in banks forced to increase that dept with inexperienced people.
on the other hand i may be totally wrong !! LOL :argue

doesn’t sound right…

did you have
property address, social, dob, first, last name, current date

and did your doc. say it could be faxed and still be legal?

Have you tried to call and be her?

I have seen some lenders and attorneys offices insist that their forms be used. Your ATR might have the exact same verbage but they want to use whats familiar and approved by the lending gods.

Don’t fight with them, just ask for their form.