[WSBAPT] Lender won't honor POA RE Fannie Mae

[Britt, Christopher]

I have had this issue before and found it better just to have them draft it
and have it signed when I know that the principals are going to be out of
town.  If that is an option, I would say that's your best bet.  Getting
into fights with lenders - even when you are definitely correct - will only
stall the transaction.

Christopher G. Britt, M.A., J.D.

Attorney at Law

1403 S. Grand Blvd., Suite 201-S

Spokane, WA 99203-2278


P: 509.455.3713
D: 509.316.2131
F: +1.509.455.3718 (must dial 1 before area code)

E: *christopher at lucentlaw.com <christopher at lucentlaw.com>*

Web: www.lucentlaw.com


On Thu, Dec 29, 2022 at 12:56 PM Kaitlyn Jackson <kaitlyn at dimensionlaw.com>
wrote:

> Hi all -
>
> I rarely add to this listserv, but I've had a strange situation arise with
> regard to the purchase of a property. Client is purchasing property and
> client's son has a POA which is effective immediately and specifically
> allows son to purchase, sell, dispose of real property on behalf of Client.
> Client will be out of reach during the anticipated closing date for the
> purchase and wants Client son to execute closing. Underwriters for the loan
> say "no" because POA doesn't contain the specific address of the real
> property. Has anyone come across this?
>
> My concern here is that POAs are generally written and if the principal is
> incapacitated, new POAs could not be executed for each transaction with
> each address. Can the underwriters be convinced this is not necessary?
>
> Would love to hear your feedback.
>
> Kaitlyn
>
> --
>
> ***Happy Holidays! Please note our office is closed for the Holidays from
> December 24, 2022 through January 1, 2023.***
>
>
> Thank you,
>
>
> Kaitlyn R. Jackson, Senior Associate Attorney
>
> Dimension Law Group, PLLC
>
> *Office:*  206-973-3500│*Fax:*  206-577-5090
>
> *Email:* kaitlyn at dimensionlaw.com
>
> *www.dimensionlaw.com <http://www.dimensionlaw.com/>*
>
> 631 Strander Blvd, Bldg A, Suite G, Tukwila, WA 98188
>
>
>
> PRIVILEGED AND CONFIDENTIAL:  This email (including any attachments) is
> intended only for the use of the individual or entity named above and may
> contain privileged or confidential information. If you are not the intended
> recipient, or the employee or agent responsible to deliver it to the
> intended recipient, you are notified that any review, dissemination,
> distribution or copying of this email is prohibited. If you have received
> this email in error, please immediately notify us by email, facsimile, or
> telephone; return the email to us at the email address below; and destroy
> all paper and electronic copies.
>
> *Sent with Right Inbox <https://www.rightinbox.com/?utm_source=signature>*
>
>
> PRIVILEGED AND CONFIDENTIAL:  This e-mail (including any attachments) is
> intended only for the use of the individual or entity named above and may
> contain privileged or confidential information. If you are not the intended
> recipient, or the employee or agent responsible to deliver it to the
> intended recipient, you are notified that any review, dissemination,
> distribution or copying of this e-mail is prohibited. Attempts to intercept
> this message are in violation of 18 USC 2511(1) of the Electronic
> Communications Privacy Act, which subjects the interceptor to fines,
> imprisonment and/or civil damages. If you have received this e-mail in
> error, please immediately notify us by e-mail, facsimile, or telephone;
> return the e-mail to us at the e-mail address below; and destroy all paper
> and electronic copies. Any settlement offer contained herein is made
> pursuant to Washington ER 408, and without admitting fault or liability on
> the part of this firm’s client(s) or its agents.  IRS CIRCULAR 230
> DISCLAIMER:  To ensure compliance with requirements imposed by the IRS, I
> inform you that any U.S. tax advice contained in this communication
> (including any attachments) is not intended or written to be used, and
> cannot be used, for the purpose of (i) avoiding penalties under the
> Internal Revenue Code; or (ii) promoting, marketing or recommending to
> another party any transaction or tax-related matter addressed herein.
> ***Disclaimer: Please note that RPPT listserv participation is not
> restricted to practicing attorneys and may include non-practicing
> attorneys, law students, professionals working in related fields, and
> others.***
> _______________________________________________
> WSBAPT mailing list
> WSBAPT at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbapt
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20221229/b20b033f/attachment.html>