Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
Where in the Utica area are you buying? I went to school up there.
Is anyone looking after you best interests? NO!
Get your own agent and find a new lender. You certainly need a lender who does not relay your information to the agent who is working for the seller.
You certainly should feel like someone made a mistake. The mortgage lender forgot that they are working for you, and as a SELLERS agent that agent has an OBLIGATION to the seller first. Which means the list agent does not owe the Buyer confidentiality. Because of the magnitude of the purchase and numbers issues that could arise in a real estate transaction, the State of New York created the Buyers Agent/ Agency to protect consumers. I can not say for sure if something wrong did or didn't happened here. Either way, I agree with the other agents that You Should get a Buyers Agent to lookout for your interests. A Buyers agent is OBLIGATED to work in your best interests.
Now depending on what paperwork you signed, and how the paperwork was filled out when you made your offer you may be stuck working with that agent on that particular house. You can change lenders now. If you haven't paid any loan initiation fees it may be in your best interest to go to someone you feel more comfortable with. It is important to feel comfortable that the people you have working for you are doing just that, working for you.
I also see that you are a seller. I am assuming that either you have a home that will need selling and made a contingent offer, or you are in the process of selling your home. Your listing agent could help you by representing you on the buyer side as well. If you need more help or need to interview an agent, you can contact me via email at firstname.lastname@example.org.
Hope everything works out for you
You are right; something's wrong with this picture. Your Loan Officer must keep all information confidential. If she has any conversations with the Seller's agent, the nature of those conversations should be limited to the Loan Officer's experience in the business, Licensing, and the nature of the company where the L.O. works (Direct lender, regular bank, mortgage broker). Your L.O. may inquire of the Seller's agent for specifics about the property such as condition, property taxes, and other information that would help your L.O. to help YOU.
While many of us Mortgage Bankers receive referrals from local Realtors, there is a fine line we must walk in those relationships. The fact your L.O. was discussing the Seller's "bottom line" with you is a red flag over the nature of her relationship with the Realtor; it's a bit too "cozy" if you ask me.
While the L.O. didn't do anything illegal, you are right to think the L.O. isn't really on your side. Move on and find another Local Mortgage Banker to work with.
In most cases, you do NOT save anything by going with the listing agent.