BAC Home Loan Servicing LP, the behemoth, has combined to become one of the largest loan servicers, if not THE largest loan servicer in the world. It doesn’t come though without changes. Week 2 of “Integration” brings on the new policy about authorizing 3rd parties verbally. While some companies such as IndyMac accept 7 day verbal authorizations it used to be for Bank of America and Countrywide that an authorization given verbally would only last for that phone call.
Now with new company structure comes some new company policies. In this case there is a new one day verbal authorization procedure that has come into play so authorizations given verbally will no last for an entire 24 hours.
Many times we use this for our clients in order to be able to briefly get some information in a crunch.
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