Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Shopping For A Mortgage? Beat the Banking Cartel By Using The Rules IT Implemented Against It
Should you pick a (a) bank, (b) non-depository lending correspondent (direct lender), or (c) mortgage broker to secure mortgage financing when you purchase your new home?
The answer is (d) all of the above if you want to shop for a mortgage.
The mortgage lending industry has been, for all practical purposes, nationalized at this point in time.  Massive regulatory efforts like the Dodd-Frank Act were enacted  to "prevent consumers from 'abusive' practices" regarding loan originator compensation,  In practice, this Act actually penalizes the SMART consumers and buttresses the profits of the banking cartel.  One of the most anti-competition regulations just took effect and you, the smart consumer, can get really rooked; I'm going to show you how to beat these guys at their own game.
The Federal Reserve Bank (the Fed) , under the authority given it through the Dodd-Frank Act, specifically outllawed the ability of a consumer to negotiate individually with a loan originator.   The Fed demands that all borrowers be treated equally, by each loan originator (regardless whether he works for a bank. lender, or brokerage), when that originator charges for his or her services.
Sounds fair, doesn't it?  I mean, everyone wants to be treated equally, right?
... more

__________________________________________________
Are you on The Rain? Grow Your Network!