... Lending standards weakened sharply in 2005 and 2006 as home prices soared. The Federal Reserve's proposals this week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed and other federal agencies tighten their enforcement of the lending rules. Fraud and predatory lending were rampant in the subprime market, which served the weakest borrowers. To ensure that you will be getting the best mortgage rate, find out if the lending company you are dealing with has a broker. This is fundamental if you want to get the best mortgage rates and save your money. Contracting a broker may mean additional fees to subtract from your budget.
