New Fed Rule for Mortgage Brokers

Lynnley Browning

New Fed Rule for Mortgage Brokers

Article

Lynnley Browning is a frequent contributor to the business pages of The New York Times and is a former Moscow-based correspondent for Reuters. STARTING April 1, under a new compensation rule from the Federal Reserve, borrowers who get their mortgages through brokers will most likely pay less for their services and must be offered the lowest possible interest rate and fees for which they qualify.
The new rule also affects those dealing with small banks and credit unions.
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