Did I miss something here? I thought that privacy laws precluded a seller from asking specific questions about a buyer’s credit unless owner financing was included in the transaction.
Now we are being told that bank sellers are requiring FICO scores with offers. And real estate agents are telling buyers that the banks will not consider their offer unless it is provided.
Sounds like a RESPA and Privacy Act violation all rolled into one. But I have been wrong before, and if someone could please tell me why I wrong I’d like to know. How did it happen that a listing agent can have access to confidential information from a buyer?
I’d like some opinions please.