Consumers could be scammed because they bought into the idea that real estate investing is a magical kind of business unlike any other kind of business in which you can put nothing down and make no loan payments and strike it rich. This does not excuse the mortgage broker. It explains
the mortgage broker.
Forgive the slight twisting of language, but you must read Tanta's post at Calculated Risk
to understand more; for every perp, there's usually a willing victim.