Im not sure what you mean by second channel. QUOTE]
Some brokers are charging a brokerage fee which can be mandated ie Rams will pay it out of the loan proceeds. Many are getting a second bite of the cherry too via a referral fee from the franchisees. Shows you how tight the low doc market it.
Speaking to a local rams guy the other day, he said 70% of volume is low doc's and minor credit impaired stuff. Scary stuff.