I kinda like this Bruce Marks guy.
National Mortgage News - Weekend Edition
What We're Hearing - By Paul Muolo
What a week in Washington! In Capitol Hill testimony on Thursday loan brokers were portrayed as the Great Satan of the subprime crisis. This is what housing advocate Bruce Marks had to say: "Brokers are like cockroaches. Once you step on them, there are five more." He told a House committee that a "massive" amount of Americans will lose their homes in the coming year, adding, "Economic terrorism is what's going on this country." He also bashed Countrywide's lending record. On Wednesday, on the Senate side, Martin Eakes of the Self-Help Credit Union suggested that yield-spread premiums should be prohibited which is more, or less, like saying loan brokers should be put out of business. (The way things are looking brokers might be out of business anyway.) All of this raises an interesting question: How did loan brokers come into being? As I recall -- and I'm going by memory -- the broker movement started in the wake of the S&L crisis 20 years ago. When hundreds of thrifts went bust, laid-off loan officers became "freelancers" for Anaheim Savings, Guardian Savings, Countrywide and others. If you have any recollections about the evolution of brokers drop me an e-mail at Paul.Muolo@SourceMedia.com...