An exception is California, where a 1979 ruling of the Supreme Court of California did establish fiduciary duties of mortgage brokers. 1 This means that consumers, in states other than California, may be charged excessive rates and fees and are encouraged to do some shopping around prior to any agreement. This chart shows the most popular skills for this job and what effect each skill has on pay. Therefore, it is considered a secondary market transaction and not subject to the same regulation. Mortgage loan consultants require little formal education. Though certification is not required, becoming a Certified Mortgage Consultant CDC demonstrates that a consultant holds the highest level of certification awarded to mortgage brokers by the National Association of Mortgage Brokers. Loan officers often cannot reduce their companies' profit margin and may be higher or lower than the marketplace, depending on the decision of managers. The broker will often compare rates for that day. Approxi

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