The Real Estate REplay
Host Wendy Gilch, and a rotating cast of expert co-hosts, break down the good, the bad, the unethical (and sometimes illegal) things other sellers and buyers experienced while buying or selling a home.
Learn what went right, what went wrong, what they would do differently and how to spot red flags before they become a problem.
The Real Estate REplay is powered by consumer advocate group, Selling Later.
www.sellinglater.com/resources
The Real Estate REplay
Buyer Told To Stop Rate Shopping After Meeting With Their Agent's "Partner Lender"
This isn't the first time we have heard a story like this, and likely won't be the last.
This homebuyer was already pre-approved but when chatting with their agent, they were told they should shop around and then were given the contact information for this agent's "partner lender."
Three days later, the buyer mentioned to their agent and the "partner lender" that they have another rate and if the lender could match it. The agent freaks out and tells them to stop shopping around (even though she told them to do so three days prior).
We want to know why after meeting with her partner lender is the buyer supposed to stop shopping around.
Chelle Prunkel joins us again to dissect this story and also discuss...
- How long you can shop for rates
- The Consumer Financial Protection Bureau's warning on online rate shopping
- Rocket Mortgage and their "not rocket mortgage" website
- Rocket Homes Agents being told to not steer their clients away from Rocket Mortgage products
- How to compare rates between lenders and what to look for
- How "Partner Lenders" can pay for your agent's advertising
- Why you should be concerned if your agent only recommends one lender
State laws and regulations may vary.
Have a story you would like to share with other sellers or buyers?
Hit us up here.
