Borrowed from a friend: 'Why do SS Approval Letters NOT have a paragraph.....

"Why do SS approval letters NOT have a paragraph where the borrower forever releases the bank from any and all claims arising from issues of origination, securitization, servicing, default servicing, etc??" Thoughts??

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Because the banks issue the approval letters. You could ask for those terms in your submission to the bank, but approval letters are usually non-negotiable. And the banks are not going to put anything in them that pertains to anything other than the terms of the agreement they are approving.

Am I reading the question and Roberta's reply wrong?

The release I'm reading about would BENEFIT THE BANK - but the banks are not requesting such a release (in exchange for generously approving a short sale).

Wouldn't it be funny: a borrower takes his HAFA relocation allowance and uses it to sue the bank? :)

you are a trouble maker...lol

Citimortage does -- if I'm understanding your question right.

The part that cracks me up about their letter is the part where they say, "borrower agrees to hold Citimortgage harmless in the event of NEGLIGENCE, even INTENTIONAL...."

 

Last time I checked, you're NEVER released of negligence, even if you make the borrower sign, notarize and put 3 stars next to it. =)

Oh Edwin - thank you! Would you be so kind and copy and paste the complete verbiage above from the letter...the seller may want to draft a similar "approval letter" for the record. 

The language will NOT hold up in court. If you still want it, you can email me. Visit my website for the email: FreeModificationHelp[dot]com

I don't post my email on msg boards due to the darn spam bots. =)

I just emailed its bouncing back saying freemodificationhelp.com needs a name @

What's a spam bot? 

Didn't get your email. Did you send it to edquity[at@symbol]sbcgolbal[dot]net?

 

Spambots are programs that search for email address through search engines. You pretty much open up a pandora's box of spam!

yes and it bounced back. Check your msg here.

You got mail. ;)

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