Exhibit 99.3


                    Consent of Banc of America Securities LLC


April 30, 2002

Board of Directors
Trendwest Resorts, Inc.
9805 Willows Road
Redmond, WA  98052

Members of the Board of Directors:

We hereby consent to the inclusion of our opinion letter, dated March 28, 2002,
to the Board of Directors of Trendwest Resorts, Inc. (the "Company") regarding
the proposed merger of the Company with a wholly owned subsidiary of Cendant
Corporation in Cendant Corporation's Registration Statement on Form S-4 to which
this consent is filed as an exhibit (the "Registration Statement") and to the
reference in the Registration Statement to our firm and to our opinion under the
headings "Summary - Trendwest's Reasons for the Merger," "Summary - Opinions of
Trendwest's Financial Advisors," "The Merger - Background of the Merger," "The
Merger - Trendwest's Reasons for the Merger," "The Merger - Opinions of
Trendwest's Financial Advisors," and "The Merger Agreement - Representations and
Warranties". In giving the foregoing consent, we do not admit (1) that we come
within the category of persons whose consent is required under Section 7 of the
Securities Act of 1933, as amended (the "Securities Act"), or the rules and
regulations of the Securities and Exchange Commission (the "Commission")
promulgated thereunder and (2) that we are experts with respect to any part of
the Registration Statement within the meaning of the term "experts" as used in
the Securities Act and the rules and regulations of the Commission promulgated
thereunder.


Very truly yours,



BANC OF AMERICA SECURITIES LLC