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IndyMac Mortgage Services, a One West Bank, FSB company, is one of the few lenders that allow the homeowners to call in and verbally authorize the lender to speak to their 3rd parties as opposed to having to submit this in writing. Most lenders allow for a 1 time verbal authorization but in many cases it may only last for that phone call or even more so only until you are transferred. One West Bank allows the borrower to choose to authorize a third party to speak to them for up to 7 days. This is generally ends after that period of time and so far it looks like they are accepting further verbal extensions but they do ask that an approval letter is submitted via fax.

Not all lenders allow this and actually in most cases they do not. This is a great feature that we have seen in many cases allow for us to negotiate a last minute foreclosure postponement.