That the recession has been over officially for more than a year is of little solace to downtrodden mortgage brokers. But a Fannie Mae economist said that if loan jockeys are patient, things will get better.

Speaking to a gathering of brokers meeting in Las Vegas, Orawin Velz, director of economics and the person responsible for forecasting at Fannie Mae, said consumers should be "ready to spend again" by the second half of 2011.

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