Free Credit Report
Before applying for any type of Loan or Mortgage your first step should be to check your Credit Report.

Sections:

GMAC Mortgage

Bi-Weekly Mortgage Calculator

Mortgage Finance

Refinance Mortgage

First Mortgage Loan

Bad Credit Mortgage

Take Over Mortgage

Interest-Only Mortgage Rates

Mortgage Rate Comparison

Refinance Mortgage Rate Calculator

Adjustable-Rate Mortgage Payment

Balloon Payment Mortgage

Canadian Mortgage Rates

Free Online Mortgage Calculator

Mortgage Quote

Interest-Only Mortgage

Mortgage Interest Rates

Mortgage Interest Rates

Mortgage Lenders

Lowest Mortgage Rates

North Carolina Mortgage

Best Mortgage Rate

Home Mortgage

Mortgage Lead

Second Mortgage

  homemortgagematters.com   Web

Mortgage Broker



Mortgage broker. Mortgage lender. Bank loan officer. They’re all the same. Their job is to sell you mortgages. Period… Well, not exactly. While all three are closely related, the nature of their jobs deviates slightly from each other.

What’s a mortgage broker?
Contrary to popular belief, mortgage brokers do not work for the loan company or any lending organization or firm. A mortgage broker is a real estate financing professional who works independently from a lender. A mortgage broker concentrates on the instigation of residential or commercial mortgages. The lending company is the “wholesaler.” The mortgage broker is the one who provides the actual funding and servicing to these loan “wholesalers.”

Basically, mortgage brokers are freelance agents working with (not for) various wholesale lenders. Almost half of all the real estate residential loans in the United States are instigated by mortgage broker firm operations.

Mortgage Broker Services

Mortgage brokers have direct access to hundreds of loan products. Because of this, mortgage brokers are the best when it comes to providing consumers cost-effective and efficient options that cater to their specific loan needs. The mortgage broker evaluates and provides assessment based on the financial details which the customer gives. Using this information as leverage, the mortgage broker would then search through the hundreds of posted rates in order to find the best one for the customer. In this way, not only does a mortgage broker provide their customers with expertise and convenience, but choice as well.
"Money is like an arm or leg -- use it or lose it."
- Henry Ford
 
Mortgage lending is a complicated task. Mortgage brokers act as guides for consumers, helping them through the entire process. When confusion sets in, mortgage brokers help dispel this by offering extensive choices and advice to aid the consumer maintain his financial balance with his goal.

When customers have a bad credit or a less-than attractive credit history, mortgage brokers help them get loans by looking for lending companies that are willing to let these types of consumers borrow money. Mortgage brokers also use novel loan packages to allow customers with low to moderate income enjoy the benefits of home ownership.

Mortgage brokers help consumers save on their time, money, and effort. Because mortgage brokers provide assessment on their clients’ financial status, they can easily target products which more or less cover and fit with the clients’ needs. This makes the job easier and less time-consuming. Mortgage brokers maintain contacts with several lending companies. This allows mortgage brokers to get the cheapest loans for their clients.

National Association of Mortgage Brokers

Established in 1973, the National Association of Mortgage Brokers is the primary trade association that represents the community. The association is affiliated with 46 states of the United States and promotes professional certification for mortgage brokers.

Mortgage brokers who are members of the National Association of Mortgage Brokers are required to follow the association’s code of ethics and keep only the best lending practices in his profession. The mortgage broker acts as the liaison between the lender and the borrower. A mortgage broker is responsible for bridging the gap between these two. Such a large responsibility requires a mortgage broker to be completely thorough in his dealings with both and in the mortgage process.

Google
 
Web HomeMortgageMatters.com

Additional Resources and Latest News:

This RSS feed URL is deprecated
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Paul F. 'Pete' Spangler Jr., mortgage broker and graduate of the old Towson Catholic High, dies - Baltimore Sun

Baltimore Sun

Paul F. 'Pete' Spangler Jr., mortgage broker and graduate of the old Towson Catholic High, dies
Baltimore Sun
Paul F. “Pete” Spangler Jr., a retired mortgage banker who had also worked in sales, died Saturday from renal and heart failure at Stella Maris Hospice. The Towson resident was 85. Paul Francis Spangler Jr. was the son of Paul Francis Spangler Sr. and ...


The UK's biggest estate agent is working with Google's former UK MD to build an online mortgage broker - Markets Insider

Markets Insider

The UK's biggest estate agent is working with Google's former UK MD to build an online mortgage broker
Markets Insider
LONDON — A new digital mortgage broker backed by estate agency group Countrywide and venture builder Blenheim Chalcot is launching on Tuesday. Dynamo provides mortgage advice online and compares deals from High Street banks and challengers alike. The ...

and more »

Blend will offer digital mortgage platform directly to brokers - HousingWire

HousingWire

Blend will offer digital mortgage platform directly to brokers
HousingWire
“AIME's partnership with Blend is a monumental win, as it enhances mortgage brokers' ability to deliver a fully digital customer experience, while automating many of the steps of the mortgage process,” Casa said. “This will lead to faster closing times ...


First trip to CMAs was one to remember for Haligonian - Mortgage Broker News

Mortgage Broker News

First trip to CMAs was one to remember for Haligonian
Mortgage Broker News
The Halifax-based broker had 230 transactions last year that totalled $50mln. While those numbers would be impressive in Toronto or Vancouver, they're all the more exceptional in Halifax considering the city's size. And given the networking ...


Wilkins earns top award as mortgage broker - TheChronicleHerald.ca

Wilkins earns top award as mortgage broker
TheChronicleHerald.ca
Halifax mortgage broker Clinton Wilkins was honoured as Mortgage Broker of the Year at the Canadian Mortgage Awards held in Toronto last week. “Sometimes we don't think about the East Coast, and it's forgotten about. So even to be a finalist is a huge ...

and more »

NAMB: Mortgage brokers will survive industry change - Scotsman Guide News

Scotsman Guide News

NAMB: Mortgage brokers will survive industry change
Scotsman Guide News
Stand out and become the cream of the crop. Become aware of what is in your industry. Embrace the digital mortgage and become a subject-matter expert on it. The broker is not going away. They are here to stay. It is the professionals who will continue ...

and more »

Headache looms for borrowers because of oversight - Mortgage Broker News

Mortgage Broker News

Headache looms for borrowers because of oversight
Mortgage Broker News
“If somebody refinances before November 30, 2016 and they come up for renewal, no problem, they can still qualify for insurable mortgage rates, saving them money, but if they refinance after that date then they don't qualify for those rates when they ...


More Australians turning to mortgage brokers - Money Management

Money Management

More Australians turning to mortgage brokers
Money Management
Three in every ten Australian home buyers are seeking the services of a mortgage broker, data from Mortgage Choice and CoreData's new Evolving Great Australian Dream 2018 whitepaper has shown. Across all age ranges, 28.2 per cent of all home buyers saw ...


Everything you need to know about risk of mortgage fraud - AZ Big Media

AZ Big Media

Everything you need to know about risk of mortgage fraud
AZ Big Media
Mortgage fraud occurs when a potential homebuyer, seller, or lender lies or omits key information that leads to a mortgage loan approval or terms that the applicant wouldn't normally qualify to receive. More formally, the FBI defines mortgage fraud as ...

and more »

CMBS Lenders Are Hungry for Deals - National Real Estate Investor

National Real Estate Investor

CMBS Lenders Are Hungry for Deals
National Real Estate Investor
CMBS is still the best option for borrowers who want to maximize leverage, notes Jonathan David Hakakha, managing director at Quantum Capital Partners, a mortgage broker and capital advisory firm specializing in transactions in the Western United ...


Google News

Copyright © 2006 HomeMortgageMatters.com ▪ All Rights Reserved ▪ Net Partners ▪ Sitemap