Hi, I just put a sub-to deal with a Veteran’s Administration loan under contract as well as got a generic Authorization to Release Loan Information signed by the homeowner. When I called the mortgage company to get a fax number to fax the Release to, the mortgage company rep said I needed to have the homeowner get on the line and give verbal authorization for me to have access to the loan information. So I got the homeowner on the phone via conference call and then the mortgage company rep put us back on hold. After he came back, he said they would fax to me a company Authorization to Release Loan Information that the homeowner had to sign it then notarize it before they would give me authorization on the loan.
I’ve had many Releases signed by homeowners and then faxed them in to the mortgage companies without the hassles I got from this mortgage company. This is a first for me. Is the mortgage company suspicious about this or is this just my imagination? Are there any caveats about taking on a VA loan “sub-to” that I should know about? TIA.
Bob