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Emy Study

Problem with mortgage lender

3 posts in this topic

I am buying a house, I applied for mortgage and as expected, I had to give the mortgage lender all sorts of detailed senstive information. Now, a week before closing, my mortgage lender sent the conditional approval letter to the listing agent and the buyer agent. BUT he was supposed to black out any personal information. He did not do that, he sent it to everyone with my SSN on it. My problem is that this is supposed to be confidential info and not to be given to anyone. I am very scared of theft identity stories and I am usually very careful who I give my info to. This can have major consequences from that type anytime in the future and for the rest of my life.  I believe this is considered breach of confidentiality or fiduciary duty or something. What is my legal recourse against that lender?
The Lender said, yes it should have been blacked out but it is a "human error". Can I sue lender for breach of confidentiality (negligence) ? and what will that help me in.. my info is already exposed.
Also, I can't bring myself to continue sending more documents and info to this lender and give them more of my sensitive data, but the house purchase contract says I have get mortgage in good faith. What can I do? Can sellers sue me if I stop the mortgage process at this stage? I am so confused about all the legal implications. of my exposed data and the consequences of not continuing with this lender.

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5 hours ago, Emy Study said:

What is my legal recourse against that lender?

 

Probably none as I doubt that any laws have been broken. Consult an attorney if you want to carry this further.

 

5 hours ago, Emy Study said:

Also, I can't bring myself to continue sending more documents and info to this lender and give them more of my sensitive data, but the house purchase contract says I have get mortgage in good faith. What can I do? Can sellers sue me if I stop the mortgage process at this stage?

 

The issue with your SSN has nothing to do with your ability to get a mortgage. If you pull out the seller can sue you for breach of contract and if not a lawsuit at least keep your earnest money as liquidated damages and put the house back on the market.

 

 

 

 

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14 hours ago, Emy Study said:

What is my legal recourse against that lender?

 

Unless you suffer actual damages, none.

 

 

14 hours ago, Emy Study said:

Can I sue lender for breach of confidentiality (negligence) ?

 

Anyone can sue anyone for anything.

 

 

14 hours ago, Emy Study said:

and what will that help me in.. my info is already exposed

 

Exactly.  A lawsuit can't change the past.

 

 

14 hours ago, Emy Study said:

Also, I can't bring myself to continue sending more documents and info to this lender and give them more of my sensitive data, but the house purchase contract says I have get mortgage in good faith. What can I do?

 

I'm sure you can do any number of things.  One of the most obvious and logical things would be to contact the persons who received the information in question and ask that they either destroy all documents containing the information or send them to you or, most simply, redact the information from all copies in their possession, and ask that they confirm to you in writing that they have done this.  Although you said this information was "sent . . . to everyone," the only two persons you specifically mentioned were the listing agent and the buyer's agent.  Since you're the buyer, one of those persons is your agent and probably already had your SSN anyway, so the only person you need to be concerned about is the listing agent, and he/she probably couldn't care less about your SSN.

 

 

14 hours ago, Emy Study said:

Can sellers sue me if I stop the mortgage process at this stage?

 

Yes, and unlike you, they would probably be successful if they sued you.  That your lender may have made a mistake doesn't allow you to back out of the contract with the sellers.

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