Mortgage Broker Disclosed Financial Info to Mutual Friend... My Play?

[NotWorthy]

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2. Confront the bastard and tell him I don't appreciate what he did (pretty Gabriel, and will get nothing done imho).

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What does "pretty Gabriel" mean?

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Pretty gay. I guess it's a local term. Just wait, though. Now that it's in OOT it's gonna spread like wild fire.

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In any case, one of your options should be to report him to whichever government division issued his license. You can't just hang up a sign that says, "Mortgages brokered here!" At least, I don't think you can, in the same way you can't just be a stock broker or a life insurance agent, etc. Generally those types of things require a license, testing, continuing education, etc. Ethical violations among financial professionals are taken pretty seriously, so just report him and he'll probably lose his license and get fired.

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After thinking about it for a day, I've decided #2 is best. I don't want to get him fired. I was pissed off yesterday, but yesterday was a bad day overall. I've simmered down. Thanks guys.

[NotWorthy]

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1. Tell the broker's boss it was inappropriate.
2. Tell your friend you'd appreciate your personal business not being gossip-fodder.
3. Grow up and get over yourself.
4. Let it go.

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fyp. Totally not kosher to disclose confidential financial information, and who knows what else this guy is doing? I would absolutely bring it up with management. A letter is probably the way to go.

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I would rather do this than report him to the state, or whatever agency governs these guys. Good idea.

[wet work]

If you're desired result is to just to keep everything quiet how about a combo of 2 and 3. Tell your friend if he doesn't keep his mouth shut about the whole thing you're considering suing the mortgage guy. Hopefully that will be enough to keep everything contained. Or tell the mortgage guy you're going to sue him unless he persuades your friend to remain quiet about everything. Maybe have your dad's lawyer handle it.

You could also just ask your friend to not be a dbag(in a friendly way) and keep your personal/family's financial info to himself. "Hey man, I'd really appreciate it if..blah, blah, blah as a favor to not only me but my family."

[NotWorthy]

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1. Tell the broker's boss it was inappropriate.
2. Tell your friend you'd appreciate your personal business not being gossip-fodder.
3. Grow up and get over yourself.
4. Let it go.

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fyp. Totally not kosher to disclose confidential financial information, and who knows what else this guy is doing? I would absolutely bring it up with management. A letter is probably the way to go.

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The broker is the boss.

OP, are we talking about a loan officer here or the actual broker? Either way, contact your state's division of financial institutions. They take this kind of thing very seriously, as well they should. (FYI, there will be penalties/fines, hearings, etc. If it's not worth all that to you, don't bother.)

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He's just a loan officer (I think they're actually called originators, but I'm not positive), not the broker. Sorry for the confusion.

[NotWorthy]

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I'm not sure why you are totally discounting #2. It seems to be the proper course of action. I would at least do that and see how he reacts before reporting it to any licensing agency.

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Yeah, I'm leaning towards this.

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It's something that should be taken seriously, but it doesn't seem like it was done maliciously, so you should at least give him a chance to grovel a bit over it (maybe take a few hundred bucks off your fees for the trouble).

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We closed over 2 months ago now, so I can't negotiate on fees, although he did absolutely fantastic as far as those were concerned. He was really good except for the whole disclosing private information thing.

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Also, you should just let the friend know that you would prefer to keep your financial information private.

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Yeah, I'm gonna.

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Doing anything more or less at this point seems a bit reactionary given the nature of the offense. It's not like he posted your W-2s on a public website or something (that you know of).

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That's what I have now determined. Thanks a lot for the input.

Of course, if he lies about it or brushes it off, then the next step should be filing a complaint (you may want to make sure escrow closes before filing, though).

-SossMan

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[NotWorthy]

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Why do people stay friends with [censored]?
I can never understand this.

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We're not bff, but I'm not sure which one you're talking about. The lender guy is an acquaintance. The friend who knows my financial info and tried to one-up me is kind of a douche, but so are other people I know. It usually doesn't bother me.


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Also, regarding "I don't want other people thinking that my daddy bought me this house...": Sorry, he did. Stop deluding yourself. No additional 50K, no housey. At the very least, you would be flat broke without the additional 50K because all your money would be in the house you couldn't really afford in the first place.

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Wow, that's pretty wrong and weird to say so adamantly. I had the loan and $40k for the downpayment (ok, $38k) way before my father offered to help out with the additional $50k. It reduced our payment by almost $200 a month, but that didn't make or break us. Chill out.

[NotWorthy]

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Can we get some info on your dad.

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No, not really.

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He was mentioned in the paper and public company reports? If he just an exec at a company or like on par with CEO/CFO types?

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He was president and CEO of a company before he retired, over 15 years ago. As far as I know, he isn't loaded, and if he is, he's very modest (he really is modest, that much I know).

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Also, I think mentioning anything to your chatter happy friend about being quiet might actually have the opposite effect although you know him best.

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I admit it's a risk.

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And for your own sake, I hope you at least give that broker a small piece of your mind. How can you live with yourself, if you dont even yell at him a little bit about his unprofessional behavior.

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I'm on it.

[NotWorthy]

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What city? Sounds like my mortgage broker.

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I'll just say midwest U.S.

[AquaSwing]

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What city? Sounds like my mortgage broker.

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I'll just say midwest U.S.

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I'm in the midwest. It must be the same guy!

My guy has a partner, works out like a nut, and recently divorced.

[BlueBear]

I would not hesistate to report him to his superior or the institution who granted him his licence. This is a very serious breach of ethics.