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Investor Approval

Article ID: 3206 Email Print
Question
Why is my acceptance or counter offer subject to Investor Approval?

Answer

Some banks actually service portfolios of loans made by other lenders or owned by other entities.

Some asset management firms only have authority to make decisions within certain guidelines set by the bank.

Depending on the agreements between them, final sale price decisions may have to be approved by an outside third-party. 

Usually this is a quick process but occasionally it can take several days to get a final approval.


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Article Details
Views: 4540 Created on: Oct 19, 2010
Date updated: Oct 19, 2010
Posted in: Notifications

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