How Congress Can Rein In Opportunistic Steering by Brokers

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One of the important objectives of the mortgage legislation winding its way through Congress is to prevent brokers from steering borrowers to costlier loans, according to the bill's sponsor, Rep. Barney Frank (D-Mass.).

Such steering sounds like one of those things no one could support. Why do brokers do it? So they can collect rebates from lenders.

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