Ads
related to: loan officer vs mortgage broker
Search results
Results from the WOW.Com Content Network
Continue reading → The post Mortgage Broker vs. Loan Officer: Which Is better? appeared first on SmartAsset Blog. Getting a home loan is a big financial decision. This is why it’s important to ...
Mortgage banker vs. loan officer. The difference between a mortgage banker versus a loan officer might not be as obvious. All mortgage bankers are loan officers, but not all loan officers are ...
Once you settle on a mortgage, the broker then acts as your loan officer: They collect your documents and communicate directly with the lender to help get your loan application underwritten and ...
The mortgage business consists of a few people: the borrower, the lender, and sometimes the mortgage broker. The people that originate the loans are usually the mortgage broker or the lender. Depending if the borrower has credit worthiness, then he/she can be qualified for a loan. The norm qualifying FICO score is not a static number.
Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses. [1] Most loan officers are employed by commercial banks, credit unions, mortgage companies, and related financial institutions. Mortgage loan officers must be licensed. [1]
Mortgage brokers do not have the ability to charge the customer a higher or lower rate and in return obtain a higher or lower commission. In the event that the loan is paid back by the borrower within 24 months of the loan settlement, mortgage brokers are charged a "clawback" fee by the lenders since the loan is considered "unprofitable". The ...
Ads
related to: loan officer vs mortgage broker