Mortgage brokers fear 'extinction' if new bill passes
Losing yield spread premiums would destroy revenue model, group says
By Tom Kelly, Wednesday, November 7, 2007.The National Association of Mortgage Brokers is so concerned that recently proposed legislation would crush its revenue model that it scheduled national teleconferences and prepared sample letters for members to mail to their respective congressmen.
In an e-mail to all NAMB dated Nov. 1, Denise Leonard, the organization's government affairs chairperson, wrote:
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Copyright 2007 Tom Kelly
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