[photopress:fired.jpg,full,alignright]Has Lender Fraud become the standard?
Very sad, but very true story. I received an email from a Rain City Guide reader yesterday. The reader happens to be a local agent who was fired, because of her efforts to both accommodate her Buyer Client, without committing Lender Fraud.
The buyer fired her for not wholeheartedly complying with their WANTS, and for even considering for a moment, the Lender fraud implications of their WANTS.
Reason given..ALL OF OUR FRIENDS HAVE AGENTS AND LENDERS DOING THIS, AND WE FEEL YOUR SERVICES ARE THEREFORE COMPARATIVELY INADEQUATE. YOU DIDN’T FIGHT HARD TO GET US WHAT WE WANTED…
Suffice it to say, what they WANTED was cash back at closing under the table.
Apparently this has become so commonplace, that it is now the standard to which she was held. Money “off the sheet”. I can name more examples of commonplace Lender Fraud…but that is not the question here.
Sadly many told her she was being “a goody two shoes” about it. Very sad indeed.