Mortgage misery: After months of decline, broker ranks seen falling by 80 percent from peak
The Subprime crisis is taking it’s toll. It’s easy to sell mortgages when you don’t have to qualify customers and banks just want to give away money.
With banks slower to lend and finally deciding they better ask for more documentation, the ranks of brokers are thinning fast.
Home based brokers who don’t know how to identify solid applicants through marketing and who just got into the business to make a quick buck will find that they’ve made it and it’s time to move on.
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