Turnkey provider choosing lender?

[George Pauley]

I recently had a turnkey provider, that I've worked with before, change a policy.  I'm curious what words of wisdom the BP crown can shed.

The turnkey provider now insists that buyers use one of 3 lenders that they suggest.  I'm used to turnkey providers strongly suggesting particular lenders, title, insurance companies.  But usually they are willing to work with whoever the buyer wants to use.  Part of me wonders if there isn't a bit of shenanigans going on here.  Another part of me doesn't care that much about the lender.  They're going to sell the mortgage before I even make the first payment anyway.  And the turnkey provider is giving me a choice of 3, not forcing me to use just 1 lender (presumably their brother-in-law.)

Thoughts?  Thanks!

[Scott Wolf]

Originally posted by @Danielle Wolter:

@George Pauley I actually have this same question. I have a couple turnkey providers that I have shied away from because of the requirement to work with their lenders. And maybe it's just fine, but it makes me nervous nonetheless.

In instances like these, they most likely have pre-existing relationships, and know that the process will be easy(and fast) for both sides.  They do this to ensure the speed of the transaction, know that only a worst case scenario will fall through, and there may not even be a monetary incentive involved(for them).  As long as their rates and points are in line with market, and they're licensed, I wouldn't worry too much about it.