The need for greater clarity was a driving force in the recently completed negotiated rulemaking process under the Real Estate Settlement Procedures Act. Both industry and consumer groups participated in the effort to reach a consensus on how much disclosure of mortgage broker compensation is required.

However, the process served primarily as an education for everyone involved. The difficulty in reaching a consensus among the industry and consumer participants is but a symptom of the larger issue: how should this rapidly evolving industry be viewed?

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