pratikjajal
Joined: 11 Apr 2011
Posts: 1
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| Posted: Mon Apr 11, 2011 6:30 am Post subject: What mortgage broker is ? |
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Every day we are in this forum for discuss about mortgage loan and it's idea relevant to mortgage loan and much more. But do you know about the mortgage broker? I would like to discuss about mortgage broker in this forum discussion.
Mortgage broker doesn't loan money. It collects an origination fee and yield spread premium from the lender as compensation for its services. The mortgage funds are then lent in the name of the mortgage lender. An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages. It is not to be confused with a mortgage banker, which closes and funds a mortgage with its own funds. The broker might also negotiate with the lender to find and try the best financing deal possible for the borrower. They frequently facilitate transactions for mortgage bankers.
Now do you have more information about mortgage broker then you can discuss it here. |
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