Lender Dos and Don'ts
- Be honest and accurate; only quote loans you know that you can do.
- Accurately describe all fees required to close the loan. (Fair warning: Lenders have been suspended for leaving off appraisal fees and loan origination fees).
- Stand by your quotes. Take responsibility for all your loan quotes whether using an automated pricing engine or not.
- Quote loan programs Zillow does not currently support, such as USDA and piggy-back loans. Zillow Mortgage Marketplace may support these and other loan types in the future, but until we do, quotes for unsupported loan programs are not allowed.
- Submit loan quotes for financial services products that are not mortgage loans (e.g. loan modification services.)
- Assume the loan request details are flexible. For example, don't quote above the maximum LTV and assume the borrower can lower their LTV by putting more money down. You must quote based on the LTV provided by the borrower, so that the borrower can compare quotes on an apples-to-apples basis.
- List contact information in the "Lender Note" on quotes or the "About" section of Zillow Profiles. Contact information includes phone number, e-mail address, or any Web site addresses or links.