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Investment Mortgage BrokersAll of these require basically the same set of skills from the mortgage broker, but some areas, especially, commercial mortgages, may benefit from having personal connections. In all of the roles, a mortgage broker acts as an middleman, or an intermediary that finds mortgage loan offers on behalf of individuals or businesses based on their instructions. The popularity of mortgage brokers differs from area to area, but brokers are especially popular in areas that have a lot of competition among lenders, including countries such as the U.S., UK, Australia, New Zealand, Spain and Canada. It has become increasingly popular to do mortgage rate shopping by oneself, with tools such as lendingtree.com and eloan.com. Much of this popularity is due to consumers, as of 2007, in states other than California, may be charged excessive rates and fees by their mortgage brokers without any legal consequence in cases where the fiduciary duty on mortgage brokers is under discussion. |