For honest mortgage brokers it’s a bad time!
Some of the biggest companies have decided to stop working with brokers hitting the Miami real estate market as well as others hard. Chase won’t lend to brokers’ clients anymore. One of the biggest companies in the mortgage insurance business, The PMI Group, refuses to underwrite any policies on loans that started with a broker.
Meanwhile, Congress is trying to pass a bill that would ban a common practice for a few years ago, for those brokers that earned more money by putting clients in loans that were potentially damaging. The legislators’anger is hurting even those brokers who never engaged in unethical business practices....
To read more and learn three of the most important steps on your journey to home financing, click here...
1 comment:
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