Yesterday I posted a blog titled "The Death of an Industry" and it obviously struck a nerve.  The Mortgage Lending community has been put under the microscope lately and tensions are running high.  My blog discussed how changes in business practices by large commercial banks and mortgage bankers, combined with new government regulation could conceivably spell the end of the Mortgage Broker industry. 

Most of the posts I got were Mortgage Brokers defending their business and their business practices.  This was understandable and expected.  I did however underestimate the loyalty that many real estate agents held for their Mortgage Broker lender partners.  As an originator, I have always enjoyed a lot of loyalty from my strategic partners but I didn't realize the sentiment would run so strong.  I admire those agents for such robust loyalty and believe that it will serve them well in the end.  Even if my predictions come true and Mortgage Brokers fade into the sunset, the good originators will rebuild their business under a new model that works in the current environment.

For those of you that I offended yesterday, I apologize.  I hope you all take it as a wakeup call to evaluate what you are doing and how you will proceed in the future.

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