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For mortgage brokers, no good deed goes unpunished
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Consumer Protection
Friday, November 14, 2014
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The role of the mortgage broker in today’s home loan market is significantly diminished as a result of rules implemented during the past few years. In this article, Howard Lax, a member of Michigan-based Bodman PLC, discusses how rules intended to prevent underwriting abuses cut both ways by limiting the flexibility brokers traditionally have relied upon to rescue otherwise doomed loan applications.
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