No and that is so out of line... I'd be writing really nasty reviews on this lender all over the internet.

In order to qualify???...I agree with Evelyn Johnston, no integrity with this lender. Ask the buyer if they really want to work with an unethical lender!

Make some NOISE!

Was the real estate agent the lenders spouse? There is no integrity with this lender.

That is another reason I do not wish to work as a buyer agent. The buyer can talk to them but do not need to use their agent. Someone pulled a fast one on you.

Michelle,

OMG!  I can't believe this, and coming from your uncle no less.  I would let someone in charge know.  A

Quid pro quo...

The real estate agent then strong arms the buyer to use "their" lender.  

Or maybe there are illegal kickbacks going back and forth...not uncommon in Florida.

Eve

This makes my heart hurt!  NO LENDER should ever pressure a borrower to switch agents.  

Yes, happens quite a bit

USAA tries to do that and it would not surprise me if others don't try that as well. It is a definite conflict to force any party to use an affiliated service if they refuse.

No never-btw how would the othere agent help the buyer qualify for his loan? Sounds very fishy and I would be investigating all over that one!

Yes this is happening in my area and if I get hold of the buyer I will not let them think they can only qualify with that one lender. This kind of behavior can backfire.

No. That sounds really fishy to me.

No but I'm sure there is someplace where you can complain. How did they get this LO?

It's not a RESPA violation as that has to do with closing costs/lender cost disclosure.

No. I would have to verify the story because there is no such thing as having to use a certain agent in order to qualify for a loan. Some credit unions and lenders do have agents they suggest, but buyer is not required to use them. I guess this situation is where a buyer rep agreement might be of some value.

That lender should be reported.  Not right!!!

I have not.  But I would not be happy.  Unless someone goes with one of the Lending Tree or Quicken lenders, I would not try to interfere with a prior relationship.  I have some new buyers who started with a loan officer I don't know, and his company would not have been my first choice, and before I told them to dump him (which I didn't do) I put myself in their lender's shoes.  Then he called me and he actually sounds like a great guy!

Sorry that happened to you.

The VA does not operate in our great land.

I haven't lost a buyer, but I hear that USAA is recommending agents.  A previous client of mine called after the floods we had in Houston.  Her daughter had bought a property with an agent recommended by USAA and no one disclosed that the house had previously flooded 3 times!!!  USAA was the lender, the insurer and had the realtor in their pocket.  Someone should have found out the material fact about flooding.  Three weeks after moving in, during our April flooding, their house had three feet of water in it. 

Sounds unethical and possibly a RESPA violation.

How unethical and very difficult to understand that your uncle was part of this. Just wondering the way it came about and  if your VA buyer client was truthful with you.

Good morning Michelle,

Was your buyer friends with the lender? Sometimes buyers do not always give the right information in order no to hurt your feelings. Like the songs says.."Let it go, let it go" God will bless you with more buyers.

Not yet but I sold a home to close friends and clients and their attorney made them list with a competitor.

That is a new one on me.

Sounds like "steering" to me.  Probably illegal.  I'd check with your state's attorneys

No but lots of stuff happens in and out of real estate.  I saw your comment that the client was your uncle -- should make for some interesting conversation around the Thanksgiving Day dinner table.  

Quicken is doing a lot of this with In House Realty. Money is changing hands through the transaction behind the scenes and is just begging for an investigation...The buyer should have dumped this lender and found a quality VA loan person with no strings attached...

This sounds very unethical to me.  I would notify my local Real Estate board, your state's regulatory  commission on finance and lending, as well as the VA about it. 

Not surprised actually

Buyer should have dropped the lender! Lender deserves bad press. If an affiliate member of the Board, file an ethics complaint!

Sounds like a Florida thing.  I would report somebody to somebody. 

Yes and barred the mortgage company from doing business wih my office again. The buyer should have been signed up as a buyer agent client an dthen they could not stray. I would have a mean talk with that loan officer

No; however, I would make sure everyone knew that lenders name.

No. A lender to avoid.

Yes, I recently talked to a neighbor who was inquiring about a house for their father. When I asked them whether he was working with an agent, they said, yes they "had" to use the "VA-certified/qualified/something" agent because "only certain agents" could work with VA loan buyers. I had never heard such a thing before and I think it's a racket. Surprisingly (or not?) this buyer still needed outside help via his son. 

Fortunately not!

no

Michelle E Davis never happened with me. (Seen that with Relocation company, though.)

no, I earn loyalty and I have a list of qualified VA lenders to share with buyers who never do such a thing

Wish I knew what to say, but fortunately, others seem to have said those things.  Good luck!

That is BS in my opinion and I would be talking with that officer and his manager. 

I would be calling some people...I believe this may be illegal.  That is where have the buyers contract signed keeps them around

Scams and scam artists all over.  Unfortunately won't change.  All we can do is be better prepared for it.  mark

No and I would be be writing a review on this lender and calling the head honcho!!!

Sounds like a lender and possibly an agent need to lose their license.  And depending on the arrangement between the two of them it could be much worse for them.

This does not sound right at all!

It hasn't happened to me in a long time but it has happened with a major player 😡

Definitely not right.  Some lenders have no ethics and they are probably getting a kickback.  

Hmm. Seems pretty inappropriate to me, and maybe a violation?

USAA has a referral program called movers advantage that is I have lost a relocating buyer too. It is sold as you must use our suggested realtor to get a rebate, type of thing..

Sounds like a potential MLS violation , maybe RESPA

No lender should ever pressure a cleint for ANY reason. Using a specific agent has nothing to do with weither a loan gets approved or not. I have had agents say that they need to use their lender though, even if they have higher rates and closing costs.

We all know that statement is balderdash!!!  Or Poppycock ... as some might prefer.  I just have to question did you really lose that buyer? It seems to me they were not your buyer client to begin with based upon your comment to Jeff Pearl.  

It is a shame that (1) your uncle pulled that crap and 

(2) the buyer was ignorant enough to take the bait.  

Here's to better days ahead ... working with smarter people, and maybe finding a new uncle. 

Yes to losing clients and for reason we know and some we dont. Its the biz!

It used to happen with USAA but I have not heard of this anywhere else or with anybody.

 Michelle - That was so out of line and a very nasty business practice. I don't know if you have a buyer broker agreement in your state but if you do, using it would have solved this right up front.