Michelle E Davis, Converting Transactions into Relationships! (Keller Williams Greater Cleveland Southeast)

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Rainmaker
2,943,219
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

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

Aug 01, 2016 07:25 AM
Rainmaker
722,800
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

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!

Aug 01, 2016 07:10 AM
Rainmaker
2,394,677
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

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

Aug 01, 2016 06:46 AM
Rainmaker
977,468
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

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.

Aug 01, 2016 08:19 AM
Rainmaker
4,281,084
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michelle,

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

Aug 01, 2016 07:33 AM
Rainmaker
525,199
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

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

Aug 01, 2016 07:24 AM
Rainer
17,516
Wesley Johnson
Option Funding Inc - Westlake Village, CA
The better you do, the better we do!

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

Aug 02, 2016 11:31 AM
Rainmaker
818,316
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Yes, happens quite a bit

Aug 02, 2016 12:06 AM
Rainmaker
1,513,573
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

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.

Aug 01, 2016 10:49 PM
Rainmaker
845,955
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

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!

Aug 01, 2016 09:42 PM
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

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.

Aug 01, 2016 12:15 PM
Rainmaker
1,523,292
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

No. That sounds really fishy to me.

Aug 01, 2016 11:17 AM
Rainmaker
1,497,542
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

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.

Aug 01, 2016 08:54 AM
Rainmaker
725,664
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

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.

Aug 01, 2016 08:05 AM
Rainmaker
1,267,212
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

That lender should be reported.  Not right!!!

Aug 01, 2016 07:57 AM
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

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.

Aug 01, 2016 07:40 AM
Rainmaker
1,157,264
FN LN
Toronto, ON

The VA does not operate in our great land.

Aug 01, 2016 07:04 AM
Rainmaker
280,068
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

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. 

Aug 01, 2016 07:00 AM
Rainmaker
633,704
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Sounds unethical and possibly a RESPA violation.

Aug 07, 2016 07:47 PM
Rainmaker
712,260
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

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.

Aug 07, 2016 10:17 AM
Rainmaker
394,287
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, GRI,SFR, REALTOR®

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.

Aug 06, 2016 10:54 PM
Rainmaker
532,888
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

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

Aug 02, 2016 11:29 AM
Rainmaker
3,043,626
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

That is a new one on me.

Aug 02, 2016 06:15 AM
Rainmaker
1,204,273
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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

Aug 02, 2016 05:41 AM
Rainmaker
3,218,329
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

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.  

Aug 02, 2016 01:51 AM
Rainmaker
95,209
Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

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...

Aug 02, 2016 01:38 AM
Rainer
32,146
Joan Beduze
Keller Williams Realty Acadiana - Lafayette, LA

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. 

Aug 02, 2016 01:33 AM
Rainer
209,834
Jessie Cochran
Counts Real Estate Group, Inc. - Panama City, FL
Panama City Realty Group

Not surprised actually

Aug 02, 2016 12:21 AM
Rainmaker
3,137,141
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

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

Aug 01, 2016 11:18 PM
Ambassador
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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

Aug 01, 2016 11:12 PM
Rainmaker
2,928,047
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

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

Aug 01, 2016 10:45 PM
Rainmaker
2,859,842
Richard Weeks
Dallas, TX
REALTOR®, Broker

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

Aug 01, 2016 10:19 PM
Rainmaker
5,225,474
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No. A lender to avoid.

Aug 01, 2016 10:09 PM
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

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. 

Aug 01, 2016 10:02 PM
Rainmaker
3,048,869
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Fortunately not!

Aug 01, 2016 10:00 PM
Rainmaker
4,431,606
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Aug 01, 2016 09:51 PM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

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

Aug 01, 2016 03:49 PM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

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

Aug 01, 2016 03:15 PM
Rainer
97,766
Carol Wilson
Your $imple Home - Toronto, ON

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

Aug 01, 2016 02:53 PM
Ambassador
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

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

Aug 01, 2016 02:13 PM
Rainmaker
3,976,051
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

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

Aug 01, 2016 11:10 AM
Rainmaker
536,476
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

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

Aug 01, 2016 10:57 AM
Rainmaker
3,753,728
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

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

Aug 01, 2016 10:46 AM
Ambassador
4,013,284
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

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.

Aug 01, 2016 10:36 AM
Rainmaker
720,211
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

This does not sound right at all!

Aug 01, 2016 10:25 AM
Ambassador
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

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

Aug 01, 2016 10:22 AM
Rainer
302,029
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

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

Aug 01, 2016 10:13 AM
Ambassador
3,899,762
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

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

Aug 01, 2016 10:04 AM
Rainmaker
138,411
Kelly Turbeville
Keller Williams - Lake Forest, CA
Turning Real Estate Dreams into Reality

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..

Aug 01, 2016 09:53 AM
Rainmaker
1,813,980
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Sounds like a potential MLS violation , maybe RESPA

Aug 01, 2016 09:38 AM
Rainer
175,900
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

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.

Aug 01, 2016 09:13 AM
Rainmaker
2,756,120
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

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. 

Aug 01, 2016 08:53 AM
Rainmaker
2,415,688
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

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

Aug 01, 2016 08:40 AM
Ambassador
1,598,443
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

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

Aug 01, 2016 08:33 AM
Ambassador
2,792,226
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

 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.

Aug 01, 2016 08:28 AM
Rainer
55,380
Michelle E Davis
Keller Williams Greater Cleveland Southeast - Cleveland, OH
Converting Transactions into Relationships!

They need to be reported for sure!  So far, I have spoken with my broker, contacted my local board of realtors (awaiting their response) and have filed a complaint with the CFPB.  I truly appreciate all the feedback!

Aug 01, 2016 08:03 AM