Until recently, the mortgage brokerage sector has largely been ignored by regulators and litigators. Everyone was making money in mortgages and even poor advice was profitable. No one complains when times are good but now that the market has turned, we are seeing just how bad the advice was that many borrowers and investors received from their mortgage broker or agent. As Warren Buffet famously surmised, “Only when the tide goes out do you discover who’s been swimming naked”. Let’s just s...