Sub prime loans brought down major banks a couple of years ago and nearly caused a complete meltdown of the entire banking system and the financial markets. Post meltdown, the government enacted new regulations for the financial industry, in hopes of averting another economic disaster.Regulated out of existence?
One of the new laws targeted the mortgage broker industry, which just went into effect on the 1st of this month. These new regulations are imposing sweeping changes to the mortgage broker profession, dramatically changing the ways mortgage brokers have operated and made a living.
Monday, April 25, 2011
Will mortgage brokers become an endangered species?
The San Francisco Chronicle reports:
