I understand that it would be completely wrong & unethical of us to discuss the rate with the borrower. We should not advise them if their rate is high or low etc. & we certainly should not let them know where they could have received a better rate.
That said...Is it also unethical for us to compare rates? If I were to ask, "Named Lender just did a loan for X% - did anyone close with a lower rate in the last week?" would that be wrong? I'm shopping for my own re-fi. |
