Both mortgage companies and banks have a fiduciary responsibility defined by law.
Bullshyte.
What Does Shadow Banking System Mean?
The financial intermediaries involved in facilitating the creation of credit across the global financial system, but whose members are not subject to regulatory oversight. The shadow banking system also refers to unregulated activities by regulated institutions.http://www.investopedia.com/terms/s/shadow-banking-system.asp
Unregulated? Hmmm. Let's ask the good Lutheran question - what does this mean?
“Both mortgage companies and banks have a fiduciary responsibility defined by law.
Bullshyte.”
What part of my statement is bs? For you to argue that point shows your ignorance.