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.