I don't know about every other buyer and their Realtor hunting for homes today, but there has certainly been a surge in the listing side of a transaction requiring a buyer to qualify through the seller's designated lender. Now we understand the big banks, BofA, WFB, all directing approvals to be considered on their REO offers. Do not like it, but we do it. Since those companies control a large portion of REO's, it's a good chance the letter can be used on a subsequent offer. But... (21 comments)