Legal Question in Business Law in California

Re: Privacy Rights

1. You have a right to refuse the information.

2. The lender has a right to deny you credit.

3. The request is not unusual.

In 40+ years in business, finance and law, this doesn't seem more than the usual prying by a lender......they probably don't need the data, but also may wonder why you withheld certain pages.....it could be they are concerned about the liquidity of the investments, for example.

You can stand on principle and refuse the info, that's your right; if you do, there is perhaps a 50-50 chance (or better) that your application will be declined, and that would be the lender's right.

Unfortunately, borrowing requires acts of humility and subservience by the borrower. I don't believe it should be that way, but it is.

Re: Privacy Rights

This comes under the Golden Rule ... He who has the gold, makes the rules. You are not required to give them any infromation. On the other hand, they are not required to loan you the money. Your other alternative is to seek another lender. A 75% loan to value should not require that much paperwork, unless you are looking for an exceptional interest rate.

Re: Privacy Rights

Perhaps they want to determine whether your investments are sound. It appears to be an absurd request, and I agree with you. If they don't go along, then you might want to investigate some other lender and explain before signing what the problem was.

Re: Privacy Rights

The lender has no right to see anything, but the lender also has no obligation to loan you money. If you want the lender to put up the money, you'll probably have to comply with their requests.