Borrowers may have to actually visit the bank and sit down with a banker when they apply for a mortgage.

Some banks, including JPMorgan Chase have stopped using outside brokers and only accept applications submitted at their own branches.

Lenders say they have made this change because it helps them control costs. Observers say that the practice also makes it easier for banks to bundle profitable services, like checking and savings. “The bundled services are killing us,” said Pat Townsley, a broker at California Mortgage Advisors.

Practitioners said the new rules slow down the application process. Brock Harris, a practitioner with Silver Lake Real Estate in Los Angeles, said home-purchase loan closings are taking as long as 60 days.

"Finding a nice house, that's easy ... Getting a half-decent loan, that's going to take weeks," Harris said.

Source: Investor’s Business Daily, Kathleen Doler