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#925237 - 03/18/08 07:27 PM authorization to share applicant information
complyorelse Offline
Gold Star
Joined: Nov 2007
Posts: 442
U.S.
We are financing a large residential development. We also provide residential loans. The developer wants to be as flexible as possible in working with potential buyers. If the potential buyer comes to us for the financing, can we have them sign an "authorization" so we may talk directly with the builder about where they are in the process, down payment ability/needs, etc.? The key is the authorization to do so for this one transaction. Any thoughts?

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#925716 - 03/19/08 01:55 PM Re: authorization to share applicant information complyorelse
SavannahOne Offline
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Joined: Sep 2005
Posts: 1,163
Georgia
Sure, though your authorization should acknowledge the potential conflict of interest in working for both the buyer and seller.

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#925866 - 03/19/08 03:46 PM Re: authorization to share applicant information SavannahOne
complyorelse Offline
Gold Star
Joined: Nov 2007
Posts: 442
U.S.
Thank you for responding. I know it seems so basic but I just want to be sure there is no violation potential. Good point on the buyer/seller acknowledgement.

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