mortgage broker: What does fiduciary mean to you?
- 11/18/11 02:23 AM
What does fiduciary mean to you? The dictionary defines it this way, Main Entry: fi·du·cia·ry Pronunciation: [fi-doo-shee-er-ee, -dyoo-] Function: noun Inflected Form: plural -ries : one often in a position of authority who obligates himself orherself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care,candor, and loyalty in fulfilling the obligation : one (as an agent)having a fiduciary duty to another As a real estate and mortgage broker in the state of California, and I’m sure other states are the exact same way; I have a fiduciary responsibility to my clients. If I don’t fulfill my responsibility I would become susceptible to disciplinary action, and just plain wouldn’t be serving my client well. I had the opportunity to represent a seller in a short sale transaction and had the oddest conversation with the buyer’s lending agent. The buyer submitted an offer as … (0 comments)
What does fiduciary mean to you?
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