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Updated almost 8 years ago on . Most recent reply
Question about conflict of interest
I have a mortgage broker who seems intent on actively steering me away from any rehab properties and into "retail" level properties. I have also learned that he is a flipper himself in the same area that I am looking at. While I have no direct evidence of any type of malfeasance, the appearance of a conflict of interest seems pronounced. I am interested in other peoples take on the issue. Am I being paranoid? Is this a reportable issue (and to whom)? Should I cut and run?
Thanks for any advice!
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Wayne Brooks
#1 Foreclosures Contributor
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He may only offer traditional conventional/FHA loans which most rehabs won't meet condition requirements for financing.