Are Mortgage Brokers Connected to the Financial Crisis?
Some people believe that mortgage brokers helped contribute to the financial crisis. Many loans that defaulted were offered through mortgage brokers; however, these loans originated from lenders.
While some brokers were culpable for steering borrowers into accepting loans that they could not afford, they were not entirely responsible for the financial crisis. Many parties shared the blame for it. Fortunately, there has been a wave of reforms that increased transparency and limited what mortgage brokers can do.
- What Is a Mortgage Broker?
- Can a Mortgage Broker Offer FHA, VA, or USDA Loans?
- Can a Mortgage Broker Offer Jumbo Loans?
- What Are the Limitations of Using a Mortgage Broker?
- Will Using a Mortgage Broker Save Me Money?
- How Can I Find a Mortgage Broker?
- Do I Communicate with the Lender While Using a Mortgage Broker?
- What Will a Mortgage Broker Need from Me?
- Who Pays the Mortgage Broker?
- How Do Mortgage Brokers Find and Select Mortgage Loans?
- How Should I Prepare Before Meeting with a Mortgage Broker?
- What Are Some Questions I Should Ask a Potential Mortgage Broker?
- What Happens If My Loan Is Declined When I Use a Mortgage Broker?