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A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however.
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Brokers take big bite from big four mortgage revenues, analysis shows – Mortgage brokers have sliced net interest margins of the big banks by up to 20 per cent over the past decade through increasing competition and reducing costs, according to analysis by KPMG. More.
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