Mortgage broker trying to screw us?

[ChromePony]

So. I'm pooling money with a couple of partners to purchase and investment 4-plex (the details of the transaction aren't really relevant here) and we've just run into an interesting situation with our mortgage broker. This is the first experience any of us have with real estate and we've been very careful and thorough thus far, but I'm not sure how to handle this one.

We're working with a mortgage broker that came recommended from a real estate agent we had contact with. However we ended up making an offer on an unlisted property brought to us by another agent instead. The mortgage guy has been very professional so far but I guess this could bring his loyalty into question a little.

Anyway, things were moving along, he gave us a good quote on an 80-10-10 combo loan that would avoid the need for mortgage insurance. We gave him all of our information and told him to lock it down. Well, he has just sent back the disclosure paper work to sign and the loan is not the one he quoted us. Its a straight 10% down deal and will cost us a significant amount in insurance costs. He at no point mentioned this discrepancy.

I emailed him to ask about it and he said that the lender wanted to structure the loan in a different way...apparently a way that will cost us more money. I'm extremely irritated by the fact that apparently tried to just slip this by us.

Time is also tight on this deal and he knows it, if we ditch him to go to another broker it might fall through. Its possible he's trying to take advantage of us here, its also possible that he's just a bad communicator. Neither bodes well for his future with us, but I am unsure how to respond. Anyone with a little more experience in this kind of thing got some advice?