Home Buying in 10512>Question Details

Karelle, Home Buyer in 10512

Is it legal for a seller agent to call the buyers mortgage company to see what they are really approved for!?

Asked by Karelle, 10512 Thu Jun 21, 2012

Lie and say they represent the buyer to see if the buyer can get more and then counter offer with this knowlege?

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Answers

8
Being dishonest is a violation on the Realtor Code of Ethics and yes a complaint can be filed. I can call and ask a banker question, but mortgage companies have regulations and are not supposed to share this kind of confidential material in the first place.
2 votes Thank Flag Link Thu Jun 21, 2012
. I didn't think that the sellers agent contacting the buyers mortgage company sounded ethical but I wanted to know if I had a real bases for a complaint! Thank you!
Flag Thu Jun 21, 2012
For any necessary legal advice do consult with your attorney; if in fact you do have proof that the agent lied, report him/her to the local Board of Realty, or the Department of State Real Estate Licensing Division. Keep in mind that due to privacy laws, loan officers are limited when it comes to revealing your personal information...
2 votes Thank Flag Link Thu Jun 21, 2012
. I didn't think that the sellers agent contacting the buyers mortgage company sounded ethical but I wanted to know if I had a real bases for a complaint! Thank you!
Flag Thu Jun 21, 2012
Karelle,

I have had many listing agents contact me about either my preapproval or my company's policies and guidelines. I have never had anyone call me deceptively claiming to represent the buyer. I would question how they could...after all, my clients are all working closely with me, so I know who their agent is. I would never divulge anything about clients to anyone without explicit directive from my client. BTW, I don't think any mortgage professional would.
1 vote Thank Flag Link Thu Jun 21, 2012
I agree that the mortgage company dropped the ball by giving out information! I am disgusted about the whole thing, honestly!
Flag Thu Jun 21, 2012
Doing due diligence is professional, lying and using illegal achieved information (if you can prove it) should be brought to Grievance Committee with a complaint.

If we don't police our own industry, the state will step in.
1 vote Thank Flag Link Thu Jun 21, 2012
. I didn't think that the sellers agent contacting the buyers mortgage company sounded ethical but I wanted to know if I had a real bases for a complaint! Thank you!
Flag Thu Jun 21, 2012
It’s not legal for the lender to tell either realtor without your permission.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri Jun 22, 2012
Misrepresentation is against licensing law in New York State for any real estate licensee, they don't have to belong to any other organization, that's irrelevant.

You can complain to the agent's broker (the manager who runs the office, the agent's boss) as a first step. You can also complain to the Department of State, they have a form you can complete.

Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
kharby@crrnyc.com
212-688-1000x146
0 votes Thank Flag Link Fri Jun 22, 2012
I want to thank you all for your answers. I didn't think that the sellers agent contacting the buyers mortgage company sounded ethical but I wanted to know if I had a real bases for a complaint!
0 votes Thank Flag Link Thu Jun 21, 2012
Yeah! I'm going to tell you to lie and misrepresent yourself!

Save your time and breath; it won't work:
The Mortgage Company will not give you any information and you will just embarass yourself, like you probably have done here.
0 votes Thank Flag Link Thu Jun 21, 2012
Where did you get from my question that I was the one who wanted to do this????? I asked because it just happened to me!
Flag Thu Jun 21, 2012
I asked because I wanted to know if this was against some law. It did in fact happen and I wanted to know what my options are to deal with it!
Flag Thu Jun 21, 2012
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