How to Write a Mortgage Authorization Letter? Template & Format

A mortgage authorization letter allows a third party for the mortgage loan repayment options and details with the lender on behalf of the borrower. This letter is written by borrowers and are directed towards the financial system or the lender. It’s a legal document which gives authority to an individual to access and perform a particular work. The person granting the authorization may not be physically present. These letters are written to deal with the legal and financial issues.

In the process of mortgage authorization, there are three parties involved; one party is responsible for granting the authority, one is involved in the transaction and the other for performing the given authority. These letters consist of either dealing with a contract, or some other financial matters. Thus, it should be dealt precisely. The authorized party is responsible for all the circumstances be positive or negative created after that.

Mortgage Authorization Letter Writing Tips

The tone of the letter should be formal.
Mention who is being authorized and for what exactly.
The letter should be short and precise.
The letter should contain the period of the authorization.
The letter must specify the task that has been assigned to the third party.
These letters shouldn’t be taken lightly as they are financial in nature.

Mortgage Authorization Letter Sample Template

Use our free Mortgage Authorization Letter Sample to help you get started.

To,

___________

Date:________(Date on which the letter is written)

From,

_____________

Subject: Mortgage Authorization letter

Dear________(Sir/Madam),

I would like to inform you that from now onwards I’m authorizing ________(name of the third party) for discussing the mortgage repayment options. I had borrowed a mortgage amount of Rs. ____ from your bank to purchase a property. I borrowed the sum one year back, and I won’t be able to repay the loan, and hence I’m assigning _______ (name of the third party) on my behalf for discussing the repayment.

(He/She) are my long term business associate and the property purchased is under (his/her) partial control. I assure you that you won’t face any problem and would receive repayment amount regularly. If you have any questions regarding this authorization, please feel free to contact me. This approval shall come into effect from DD/MM/YYYY onwards.

Thanking you

Yours sincerely,

(name of the sender)

(signature)

Sample Letter

Below is the sample for a mortgage authorization letter.

To,

Adam Steve,

Executive Director,

Citi Mortgage Inc.,

102, East Street,

Alberta, Canada, 834.

Date: DD/MM/YYYY

From,

Marshall Stark,

A-55/6, Lane-14,

Texas, USA, 900141

Subject: Mortgage authorization letter

Dear Mr. Steve,

This letter is to inform you that I have a mortgage account with your company. I recently got married and would like to share the mortgage installment amount with my wife.

I at this moment declare that Citi Mortgage Inc. is authorized by me to share and release all the information related the loans to my wife, Lily Kate. I request you to do the needful regarding this matter and also provide me with an acknowledgment for the same. I have enclosed the details regarding my mortgage account with this letter. Please ensure that the changes are made at the soonest.

Thanking you.

Yours sincerely,

Marshall Stark

(Signature)

Email Format

The following is the Email format to be followed for a mortgage authorization letter.

To: name@email.com

From: name@email.com

Subject: Mortgage authorization letter.

Dear_________(Sir or Madam),

I am writing regarding my account number XYZ; I have with your company. I am having some health issues and will have to undergo a major medical procedure. I need you to appoint my daughter as a representative over my account during my medical down time.

Please allow her to make deposits, withdraw cash, purchase money orders or cashier’s checks and to have full access to my account during this time. In case I don’t make it through the surgical procedures, my will allows her access the safety boxes I have with your bank. Her access to my account should be granted at the soonest till notified. Please ensure that the changes are made at the soonest and it is effective from the next day.

Thanking you.

Yours sincerely,

(Name of the sender)