A mortgage broker works to help you get a home loan. Other than the mortgage broker, a mortgage banker works for a bank or a similar lending institution that offers home loan money. The main difference between a mortgage broker and mortgage banker is that brokerdoes not work for one institution but works with several providers for a loan for a particular individual. In the bank leading is direct, and a broker is a middle man between the prospect homeowners and the lender.
The mortgage jobs seemsimilar, and they’re both listed as “loan officers” with comparable functions and pay.
Why choose bankers for your mortgage?
The banker works in the loan department of a bank or another financial institution, such as saving and loan association or credit union. The mortgage banker works with realtors and home loan applicants to process the home loan.
Evaluation the property on the market as well as gathering financial information while placing all the pieces … Read the rest >>>