Mortgage Brokers are Douchebags
OK, this article did not say this exactly, but it was the implication. Yes, some mortgage brokers are sleazebags. I have found the mortgage brokers that I have used beneficial. But buyers need to beware and proactive in their dealings with mortgage brokers. Know your terms and what type of mortgage you want. Don't fall into the trap where you figure out how much you want (or can afford) to pay per month and then find a mortgage that gets you this payment. This is trouble. The most disturbing part of this article was not the profile of the rouge broker, but how the fee disclosure statements were blatant lies and the broker earned much more than was disclosed to borrowers. This requires complicity by banks.