Mortgage Brokers Taking A Bigger Bite of the Pie
Published by Marsha James April 11th, 2006 in Mortgage Updates
More than a decade ago most mortgage brokers were taking between 10 to 15 percent of all sales made. But today many are getting more than 30 percent and growing. The ones who get shaking down is always the home buyer of course.
The commercial and industrial mortgage industry is changing rapidly, Mr. Hutcheson says. It has become increasingly sophisticated. Types of financing unheard of a decade ago are prevalent today. To top it off there has been an enormous inflow of money into the mortgage market. Potential lenders far outnumber potential borrowers.
He can see a whole new business for the company’s Canadian operation — earnings fees for helping structure real estate financing.
“In the United States, CB Richard Ellis Capital Markets has become the second-largest mortgage broker in the county,” he says. “Last year alone it handled a third of all commercial and industrial mortgages placed.
Source: Globe Investor
Mortgage brokers and whether we like it or not they will try to make the best profit and as long as they are not doing anything illegal they cannot be stopped. HOwever, it is not fair that the customers suffer this way and that is why awareness about this matter is a must.