What is the future for mortgage brokers?

With lenders closing their wholesale departments, what do you think the future holds for all the mortgage brokers out there? Do you think that wholesale will disappear, and there will only be retail or warehouse lending? Please let me know your thoughts, or if you have heard any rumblings!

Asked By: Rosemary V - 4/8/2008
Best Answer - Chosen by Asker
The future is NOT GOOD for mortgage brokers! The National Association of Mortgage Brokers (NAMB) is having to do some fast talking to convince everyone that these are capable, honest and competent professionals. One of the actions that the NAMB is working on is to adopt a Code of Ethics that all licensed brokers... More
Answered By: TruthMastaT - 4/9/2008
Additional Answers (3)
wish I knew.
Answered By: thislittlegal - 4/8/2008
Not sure what will happen to them. I think a change in career is in line. Washington Mutual just announced the closing of their wholesale and their retail lending. Does not look good.
Answered By: lily - 4/8/2008
Walmart greeters?
Answered By: Steve L - 4/8/2008
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