Lender steering definition
Lender steering means inducing a client to contact, select, or avoid a specific lender or lenders. Lender steering can eliminate or sharply reduce client choice in the selection of a lender by substituting the steering party’s judgment for the consumer’s. It can also constitute a real or apparent conflict of interest on the part of a counseling agency or counselor. Such conflicts can undermine the independence of the counselor’s role in fact or in the perception of their clients.
Lender steering means inducing a client to contact, select or to avoid a specific lender or lenders. Lender steering can eliminate or sharply reduce client choice in the selection of a lender by substituting the steering party‟s judgment for that of the client. It can also constitute a real or apparent conflict of