Mortgage Broker On How Business Has Changed

A mortgage broker in the state of Washington who opened his own firm talked about how the broker business has changed since the financial crisis.

Prior to the financial crisis, Randy Luke worked for Horizon Mortgage in Olympia, Washington, where there were 25 independent mortgage brokers.

But during the Great Recession, as business dried up and brokers fell under greater scrutiny and regulation, Horizon Mortgage closed its 11 offices.

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From:: Financing