A loan broker is liable to the lender on real estate for the loss of a loan negotiated by the broker upon a mortgage which proved insufficient security in consequence of prior incumbrances, where the broker agreed to loan the money only on first mortgage security on real estate worth double the sum loaned, notwithstanding the property may have been, in fact, of double the value of all the incumbrances thereon. Shipherd v. Field, 70 I11. 438; Nicolai v. Lyon, 8 Ore. 56; Turnbull v. Gadsden, 2 Strob. (Eq.) (S. C.) 14; Rubens v. Merd, 121 Cal. 17, 53 P. 432. See Sees. 346, 350, 403.