ARIZONA

Posted By: luvs2trvl

ARIZONA - 11/17/15 04:00 PM

Does anyone know of an Arizona law that requires mortgage lenders to provide realtors with updated status on loan files including disclosing non-public borrower information to them? We have a realtor who tried to tell our Loan Officer that it was a "new requirement under TRID" .
Posted By: John Burnett

Re: ARIZONA - 11/17/15 04:40 PM

Your BS alarm should have gone off. LO response should be (perhaps in more polite terms): "Show me where it says so, and I'll be happy to consider your request." The TRID rule makes no such requirement.
Posted By: luvs2trvl

Re: ARIZONA - 11/17/15 05:30 PM

Thanks John. It appears that they have written some "clause" into their contract and scribed a 2 page document (checklist) that requires the lender's signature. We're most likely not going to buy into this as there is a Q & A on the Arizona Association of Realtors website that says the lender's aren't required to complete the form - the buyer can complete a portion and meet their contract requirement. What's next with the realtors?