WASHINGTON -- President Barack Obama on Thursday called mortgage intermediaries a big problem, and said he will work to make sure they are better educated and trained.Obama made the comments during a visit to the Department of Housing and Urban Development, which oversees the mortgage market, to announce that he would make sure the housing finance industry continues to be
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A new federal law that could have prevented the crisis from spilling over into a new housing bubble has been blocked in the Senate.House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) says the bill, known as the Financial Institution Accountability and Transparency Act, or FIRITA, is too complex to pass the House.But the legislation is still under consideration in
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An intermediary is a business that buys and sells consumer goods or services.It typically provides services that aren't directly related to the seller's business.An intermediary typically has a relationship with the seller and the seller usually agrees to provide the intermediary with information about the seller.In many cases, the intermediary is able to provide a service at a discount or
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