Don't go through a broker unless you have credit problems and need
someone to fight for you/shop for you the best deal (if you know what
you're doing you can do everything they do youself, trick is contacts
can make a difference, so I won't say brokers are completely useless).

If you don't have credit problems (or just a few credit problems) skip
the broker as they always tag on a certain number of points to the
loan amount (this is how they get paid). Their fees are usually
nondisclosed, but on average they are about $3500 for every $150,000
borrowed. The process for a broker works something like this: 1. Run
the credit reports on potential client 2. Find the best lender for
that client, 3. Pre-qualify the client using the lenders automated
system 4. Take the rate offered by the lender and tag on a certin
number of markup points, quote the client the lenders rate plus
markup. 5. On closing secure the mortgage for the client. 6. Collect
the markup and resale the mortgage to another company within 90 days
of closing.

All brokers follow this system. Since they retain the option not to
resale (although they always do), they don't all disclose themselfs as
"brokers", most of them just perfer the term "mortgage companies". I
know a lot of people who have had great experiences with brokers, by
since by nature they are a middle man, its seems they have to add some
value to the transaction. I would imagine you could get a better deal
going with direct.