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THE END OF THE MORTGAGE "BROKER" Part 2
The response was overwhelming, and the passion in your comments was refreshing!  Over 120 comments with over 6,000 views and many of them were very long dissertations about how they agree or disagree with the blog.  The need to follow up and add more to the post resonated in those comments.  So here is part 2 of a series of 3.  (You can find part one here: THE END OF THE MORTGAGE BROKER)
First, I want everyone to know that I, Phil Stevenson, am a Broker at heart, and even as a small lender we still broker some deals to other lenders.  At the same time, I don't foresee myself ever joining one of the lending GIANTS.  I have been courted by 2 of the 3 largest Reverse Mortgage lenders in the country, but I don't see the benefit at this juncture.  I wrote this blog based on my experiences and what I perceive to be happening in the industry.  Your truth and experience may be different from mine, BUT I DO NOT SEE THE EDGE OR THE ADVANTAGE ON THE BROKER SIDE ANYMORE.  The financial reform is a big part of it, but other changes in regulation like the Home Valuation ... more

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