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Broker-Client Confidentiality

By
Mortgage and Lending with VanDyk Mortgage

There are lines that professionals just don't cross....regardless of who asks. On several occasions I've had Realtors question me; no, interrogate me when the client they are representing does not make the financial grade to qualify for a mortgage.

I understand how disappointing it is for an agent to hear this news (another reason to only show homes to buyers that are pre-qualified) but if I advise the parties in a deal that the buyers are not approved at that point in time; I'm telling the truth!

Believe me, I have a vested interest in a buyer being approved too, but if they're not, they're not. And according to all that is legal and ethical, a client's personal financial data is personal. So an agent wanting information disclosed to them so they can "be sure" that their client doesn't qualify and they "want proof" of the results, just ain't gonna happen. It's just wrong. And so are they.