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An individual or company that brings borrowers and lenders together for the purpose of loan origination. Mortgage brokers typically require a fee or a commission for their services.
An individual or company that brings borrowers and lenders together for the purpose of loan origination. Mortgage brokers typically require a fee or a commission for their services. See broker.
A mortgage company that originates loans, joining the borrower and lender for a real estate loan, earning a placement fee.
An independent contractor who offers the loan products of different lenders. A mortgage broker is an agent for lenders in much the same way that an insurance broker is an agent for insurance companies. Mortgage brokers act as agents for banks, trust companies, credit unions, mortgage corporations, finance companies and individual private investors. Some mortgage brokers are exclusively lenders of their own money and provide a direct source of mortgage funds.
An individual or firm that acts as an agent for both the borrower and the lender of a mortgage loan. The broker places the borrower and lender in contact with each other, and receives a commission from the borrower if a loan results. Unlike the mortgage banker, he does not negotiate the terms of your loan, issue a loan commitment, prepare the loan documents or service your loan.
One who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security. Also called a loan broker.
Arranges financing for a borrower by placing loans with lenders. Mortgage brokers are paid a fee by the borrower or the lender when a loan closes.
A mortgage broker is one who arranges financing for a borrower by placing loans with lenders. Mortgage brokers are paid a fee by the borrower or the lender when the loan closes.
An individual or company that brings borrowers and lenders together for the purpose of loan origination. Mortgage brokers usually charge a fee or commission for their services.
An individual or company that charges a service fee to bring borrowers and lenders together for the purpose of loan origination.
An individual or company that arranges financing for borrowers.
a firm or individual who for a commission matches borrowers and lenders. The lender or borrower may pay the fee. A mortgage broker takes applications and sometimes processes loans, but generally does not use its own funds for closing. A mortgage broker does not retain servicing.
A middleman who serves to bring borrowers together with lenders. Offers the service of doing the shopping for the borrower while often collecting a fee from the chosen lender rather than from the borrower.
An independent finance professional who specializes in bringing together borrowers and lender to facilitate real estate mortgages.
An intermediary between a borrower and a lender. A broker's expertise is to help borrowers find financing that they might not otherwise find themselves.
An individual or company that brings borrowers and lenders together for the purpose of loan origination. Unlike a mortgage banker, brokers do not fund the loan but work on behalf of several lenders. Brokers typically require a fee or commission for their services.
An individual or company that brings borrowers and lenders together for the purpose of loan origination.
A licensed professional who places mortgage loans on behalf of clients for a fee with various mortgage lenders, depending on the type of loan and the qualifications of the borrower. To compete with Mortgage Brokers, most banks now have in-house mortgage specialists who are mobile and will come to your home or office to arrange a mortgage loan with their bank.
One who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security.
firm that originates and processes loans for a number of lenders.
A company that for a fee matches borrowers with lenders.
A person (not an employee of a lender) who brings a borrower and a lender together to obtain a federally-related mortgage loan. A mortgage broker has access to a variety of lenders and offers the most choice in loan programs. 1999 saw Mortgage Brokers with a 70% market share of all originations.
An independent contractor who offers the loan products of multiple lenders, termed wholesalers. A mortgage broker counsels on the loans available from different wholesalers, takes the application, and usually processes the loan. When the file is complete, but sometimes sooner, the lender underwrites the loan. In contrast to a correspondent, a mortgage broker does not fund a loan.
A company that for a fee matches borrowers with lenders. Mortgage insurance premium (MIP). The fee paid by a borrower to FHA or private mortgage insurer for mortgage insurance.
One who for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security. Also known as a loan broker.
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