I asked Jillayne Schlicke of CE Forward to chime in on a question (below) that I received from one of my readers. I’m happy to say, she wrote an entire page and therefore, I’m sharing this post, written by Jillayne with you. Part 1 of this article, where I address the question, can be read by clicking this link.
As a loan originator, is it ethical to deny someone for a loan and then turn around and share not only that the loan was denied, but the EXACT reason the loan was denied (for example: too many NSFs, large deposit in checking account, hours cut back at work, etc.) with the applicant’s Realtor as well as the listing agent who in turn shares it with the sellers?
Jillayne’s response:
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