Monday, July 11, 2011
theres nothing unethical about not disclosing who the real lender is at closing??
this is what the bbo told me. they also told me there is nothing unethical about an attorney not disclosing who the real lender is at a real estate closing. thats right. because the lawyer represents the bank, he/she doesnt have to tell you who the real lender is. the lender could be an entirely different entity than that listed as "lender" on the mortgage. the lender named on the mortgage is bullshit. a strawman paid a fee to sit in on the closing and screw you before everyone else gets their turn. unbelievable. what happened to truth in lending? so now the real lender isnt represented in the closing docs, mers is the mortgagee even though they didnt loan a dime in connection with the transaction, and you dont know one thing from another because all the real info is hiding behind mers and attorney/client privledge. im lost, is anyone else? i thought there were laws protecting us from this type of nonsense?