With the results of the subprime scandal so visible, there is a general distrust of most mortgage brokers by home buyers.
There is no directory of honest(or dishonest)loan providers. Checking the Better Business Bureau or the state licensing agency is usually a waste of time, because very few misdeeds are reported and predators change their names and locations.
But this problem is seen only by borrowers who have allowed themselves to be solicited, which is a big mistake. Select your loan provider, don't be selected. I like an example I read recently...If you were a wild mushroom fancier who lived in a woods full of mushrooms and one knocked on your door and said "eat me," you wouldn't because it might be poisonous. What the mushroom fancier does is choose from among those he knows are safe, ignoring the rest.
Get a referral from a trusted friend or your Realtor. We all have names of reliable and honest loan officers.
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