Five years ago, I wrote an article on Internet mortgage referral sites, six of which I examined with some care. In 2007, Loan.com joined the group, claiming a unique distinction: All the loan providers on its site have to abide by a borrower bill of rights. The question is whether this provides any substantive benefit to borrowers, or is it just another species of hype? I think the site sponsors get an "A" for effort, the same type of "A" I received as an 8-year-old when I tried to vault a bar and landed on my head. The problem is that they applied the idea of certifying loan providers, which I have good reason to believe they picked up from me, to a referral site model on which it doesn't work. It is the same model used by the firms I examined in 2002, and which are still operat...
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