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January 17, 2008

Comments

Brian Brady

I remember hearing about how stockbrokers were a dying breed, in the 90s, Robert.

Of course, they adjusted their compensation to being much more advice-based than transaction-based and now, they're thriving.

People pay for advice; pure and simple

The Mortgage Cicerone

Robert - Mortgage brokers of the ilk that fit the public persona of what mortgage brokers represent, are indeed a dying breed...as they well should be. The business cycle we are experiencing is "the invisisble hand" in which Adam Smith wrote that is cleansing and self correcting the industry. The question at hand is what is the industry going to do to prevent the wholesale abuses that gave our industry a black eye. I don't believe any of the quick fix proposals being advocated by the publicity seeking politicians are the anwser. However, it is the cream of the crop originators (such as yourself and the Brian Brady's) that have to take immediate action to solution for the future and well being of consumers and our respective industry. If we don't, ill qualified politicians will do it for us at the detriment of what is best for all.

To end, I think high quality brokers will always play an important role in the delivery of mortgage services to the public, however I do believe the way, methods and qualification standards will be changing.

Great post Robert!

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About Author

  • Robert D. Ashby
    was the first Certified Mortgage Planning Specialist in the state of Florida. He is also the owner of Solid Rock Mortgage Corporation in Pembroke Pines, FL and a pilot for American Airlines.

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