Aurora Loan Services – Needs specific agents name on letter of authorization – this started at the begining of OCT
Aurora Loan Services or Aurora Bank, FSB, formerly of Lehman Brother has enacted new guidelines for its authorizations and what is the expected to be found on them. As of 30 days ago the letter of authorization could specify a company but now they are requesting specific agent’s names to be on there. In order to avoid the letter of authorization processing time Aurora Bank allows for its customers to sign up online on www.MyAuroraLoan.com and in their personal profile they can automatically add a 3rd party authorizations. Again they can choose from multiple options as to the length of time to authorize or to leave the authorization permanently until they otherwise choose to. If applied for online it is as easy as signing back into your account to remove the authorization. It is just about instant when done online. If done by fax expect to be waiting a while. Aurora Loan Services is notorious for not receiving faxes.
Letter of Authorization (LOA) processing time: 3 Business Days