Mortgage Brokers less expensive then Banks

I just finished reading an interesting article that I found enlightening if not a bit surprising. Economists at Oklahoma State and George Washington Universities studied consumer pricing in the mortgage industry and found that especially in the sub prime (less then steller credit) department Mortgage Brokers were a better option for borrowers. See article here. This is especially interesting being a top real estate agent I am pitched by both broker and bankers every week as to why we should choose to go the the source (“The Bank”) vs. going to a broker who can find the best mortgage for the client regardless of the bank.  The banks suggest that brokers mark up their pricing to such an extent that ultimately the consumer pays more going through a...