Definition & Meaning of the Shellpoint Third Party Authorization Form
The Shellpoint Third Party Authorization Form is a legal document that allows borrowers to designate a third party, such as a housing counselor or attorney, to access their mortgage account information with Shellpoint Mortgage Servicing. This form is essential for facilitating communication between the borrower and the third party, ensuring that the designated individual can act on the borrower's behalf regarding specific mortgage-related matters.
By completing this form, borrowers grant permission for Shellpoint to share both public and non-public information related to their mortgage account. This may include sensitive details such as payment history, loan terms, and financial status, which are crucial for the third party to assist effectively.
How to Use the Shellpoint Third Party Authorization
Using the Shellpoint Third Party Authorization Form involves several straightforward steps. First, the borrower must fill out the form with accurate details, including their personal information and the third party's contact information. This ensures that Shellpoint can identify the authorized individual and understand the scope of the authorization.
Once the form is completed, the borrower submits it to Shellpoint, either online or via mail. After processing, the third party will be able to discuss the mortgage account with Shellpoint, facilitating various actions such as negotiating loan modifications or obtaining payoff statements.
How to Obtain the Shellpoint Third Party Authorization
To obtain the Shellpoint Third Party Authorization Form, borrowers can visit the Shellpoint Mortgage Servicing website or contact their customer service department. The form is typically available for download in a PDF format, making it easy for borrowers to access and print.
Additionally, borrowers may request a physical copy of the form through customer support if they prefer to fill it out by hand. It is important to ensure that the most current version of the form is used to avoid any processing delays.
How to Fill Out Shellpoint Third Party Authorization
Filling out the Shellpoint Third Party Authorization Form requires careful attention to detail. Borrowers should start by providing their full name, address, and mortgage account number. Next, they must include the third party's name, relationship to the borrower, and contact information.
Specific sections of the form will ask for the purpose of the authorization, such as negotiating a short sale or obtaining payoff statements. Borrowers should clearly indicate the actions they wish the third party to undertake. Finally, the borrower must sign and date the form to validate the authorization.
Steps to Complete the Shellpoint Third Party Authorization
Completing the Shellpoint Third Party Authorization Form involves the following steps:
- Download the Form: Access the form from the Shellpoint website or request a copy from customer service.
- Fill in Borrower Information: Provide your name, address, and mortgage account number accurately.
- Designate the Third Party: Enter the third party's name, relationship to you, and their contact details.
- Specify the Purpose: Clearly state the actions the third party is authorized to take.
- Sign and Date: Ensure you sign the form and include the date to validate it.
- Submit the Form: Send the completed form to Shellpoint via the preferred method (online or mail).
Why Should You Use the Shellpoint Third Party Authorization
Using the Shellpoint Third Party Authorization Form can provide several benefits for borrowers. It allows for professional assistance in managing complex mortgage issues, such as negotiating loan modifications or managing short sales. This can be particularly helpful for borrowers who may feel overwhelmed by the process.
Additionally, having a designated third party can streamline communication with Shellpoint, ensuring that the borrower receives timely updates and support. This formal authorization also ensures that the third party has access to necessary information, promoting transparency and efficiency in handling mortgage-related matters.
Who Typically Uses the Shellpoint Third Party Authorization
The Shellpoint Third Party Authorization Form is commonly used by a variety of individuals and entities. Borrowers facing financial difficulties may designate housing counselors or attorneys to assist them in negotiating loan modifications or exploring loss mitigation options.
Real estate agents may also use this form when representing clients in short sales, as it allows them to communicate directly with Shellpoint regarding the mortgage account. Additionally, family members may act on behalf of elderly borrowers who may need assistance managing their mortgage accounts.
Key Elements of the Shellpoint Third Party Authorization
Several key elements define the Shellpoint Third Party Authorization Form, making it essential for effective communication:
- Borrower Authorization: The borrower explicitly grants permission for Shellpoint to share information with the designated third party.
- Scope of Authorization: The form specifies the actions the third party is authorized to undertake on behalf of the borrower.
- Duration: The authorization remains valid until revoked by the borrower, providing ongoing access for the third party.
- Fees: Borrowers acknowledge that third-party requests may incur fees, which are outlined in Shellpoint's fee schedule.
