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The work of loan officers has sizable customer-service and sales components. Loan officers often answer questions and guide customers through the application process. In addition, many loan officers must market the products and services of their lending institution and actively solicit new business. [2]
[109] An affidavit filed in the case stated that loan officers had referred to black mortgage-seekers as "mud people," and the subprime loans as "ghetto loans." [110] According to Beth Jacobson, a loan officer at Wells Fargo interviewed for a report in The New York Times, "We just went right after them. Wells Fargo mortgage had an emerging ...
A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
All mortgage bankers are loan officers, but not all loan officers are mortgage bankers. A loan officer typically works for a single financial institution and can only offer products and interest ...
A mortgage loan officer isn’t always the same as a mortgage banker (though they work for one). The officer won’t make the decision to approve or deny you a loan; they just process it and ...
The selling of mortgage loans in the wholesale or secondary market is more common. They provide permanent capital to the borrowers. A "direct lender" may lend directly to a borrower, but can have the loan pre-sold prior to the closing. Few lenders are comprehensive or "portfolio lenders". That is, few close, keep, and service the mortgage loan.
Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. [1] A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
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