...Or something else? Filed under: Bad news, Economic data, Housing. Here in the heartland of the country mortgages are defaulting at a rate that is higher than the East or West Coast areas. Is this another subprime fiasco? Another thing is that mortgage brokers can be more resourceful than banks. Because mortgage brokers do not work for only one company, they have more access to mortgages and loans. Greater suitability and better mortgage options are what mortgage brokers bring to their customers.
