Legal Question in Real Estate Law in California

Re: Lender Steering....

There may be disclosure requirements if they are affiliated. How can they force you to use a particular lender? If you ended up using the lender, I would be interested in learning more about the facts. Did you close a deal with the lender forced upon you?

Re: Lender Steering....

No. This would be illegal and violate several statutes. But how can the seller's agent "force" you to use a particular lender? Perhaps you mean the seller, such as with new construction??? Often, a builder will ask that you use their "preferred" lender or some other ridiculous thing. But you are not required to use that lender.

If you have not closed yet, and you want to use a lender of your own choice, simply decline the offer and proceed accordingly.

If you have already closed, and you can establish that a condition of closing was that you use a lender required by the seller/seller's agent, then you may have a case.

Contact a competent real estate litigator for further advice. If you would like to chat about this, please feel free to call or email us, as we often litigate these types of issues. Good luck.

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