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Showing His Ignorance

May 04, 1997

Regarding "Where Buyers Can Find the Best Deals on Home Loans," by Robert Bruss (March 23):

For Bruss to state that mortgage brokers "assemble the loan packages at lower costs than direct lenders" and "it costs no more to borrow through a mortgage broker than to go directly to the lender" is a show of ignorance on his part.

I have been in the financial industry for over 20 years and I can recount many instances where the borrower has been charged a higher rate and an inordinate amount of "garbage" fees by mortgage brokers.

STAN SHECHTMAN

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