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If you do any reading on the real estate market, you're bound to come an article or two...or three...about the state of the mortgage and banking industry.  Last week I talked about how Citigroup posted a $10 billion dollar loss and for the past few months I keep reading stories about how the mortgage industry is in a major crisis. 

Everyone is blaming each other for this crisis, but I think finger-pointing is not going to make the situation any better.  Mortgage brokers should have stressed to their clients the risks involved in taking out sub-prime loans and home buyers should have done their due diligence through research and finding a good mortgage broker before signing their life away.  Both sides are at fault in some way or another. 

However, I do side more with home buyers because they go into the situation trusting what the mortgage brokers or sales agent are telling them.  If you work in an industry that is very volatile, it's important to educate your clients on all the risks involved.  Don't be a disservice.  No matter what you do, being honest and Treating Customers Fairly (TCF) will always save you from future headaches.