Mortgage brokers have long served as an important loan source. Compared with the loan officer at a local bank, brokers typically offer a wider range of mortgage products from a variety of lending institutions.But now some brokers are concerned that they might become marginalized, as some of the nation’s largest lenders move to block them from offering their loans.The banks argue that the action reflects a move toward more conservative business practices, but brokers complain that they are being made scapegoats for the credit crisis, and that consumers will suffer as a result.
By Bob Tedeschi, Feb. 1, 2009, NYT

Link to Full Article