Independent Mortgage Brokers "Are the Whores of the World"

Richard A. Wright/The New York Times

Meanwhile, Herbert and Marion Sandler, the lenders who pioneered “Pick-A-Pay” (the Typhoid Mary of the mortgage industry) and who used brokers to generate some 60% of the loan business for World Savings Bank, the mortgage lender ran by the couple, are highly ethical, virginal innocents.