{"id":1441,"date":"2008-01-26T21:25:45","date_gmt":"2008-01-27T05:25:45","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/2008\/01\/26\/ever-met-someone-who-likes-to-play-with-live-grenades-heres-somebody-agents-who-originate-loans\/"},"modified":"2008-01-29T09:42:11","modified_gmt":"2008-01-29T17:42:11","slug":"ever-met-someone-who-likes-to-play-with-live-grenades-heres-somebody-agents-who-originate-loans","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/01\/26\/ever-met-someone-who-likes-to-play-with-live-grenades-heres-somebody-agents-who-originate-loans\/","title":{"rendered":"Ever met someone who likes to play with live grenades? Here’s somebody: Agents Who Originate Loans"},"content":{"rendered":"

This is not really new<\/em> news for many of you , but the story circulating around news organizations and blogs about a buyer who has filed suit against their agent<\/a> mentions a twist<\/strong>. Aside from the main story is the “smaller” issue that the agent evidently also arranged the buyers financing. At least that is how I interpreted it, although I could be open for correction.<\/p>\n

Agency (who is representing who in a purchase and sale transaction for those new to buying) is a tough thing to sort out for some consumers. In Washington State, agency law has gone through several variations and changes throughout the years.<\/p>\n

But, when an agent is actually representing a buyer in a fiduciary capacity and then places their loan officer hat on, with no fiduciary duty as of today (could be changing<\/a>), it makes for some potentially serious complications when things go sideways during a transaction.<\/p>\n

Speaking solely for myself, if I were an agent, knowing what I know about the challenges they encounter, there is no way I would ever want to put myself, livelihood or assets<\/em> at risk by playing a dual role.<\/p>\n

I’ve never played with a live grenade before…..but, sheesh, acting as a buyer’s agent and arranging their financing is just not my recipe for fun. It’s exciting enough working in the escrow business thank you very much.<\/p>\n

PS. If any of you have not had a chance yet this season to grab your boards out of the basement, do so, because the snow has been superb this season.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is not really new news for many of you , but the story circulating around news organizations and blogs about a buyer who has filed suit against their agent mentions a twist. Aside from the main story is the “smaller” issue that the agent evidently also arranged the buyers financing. 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