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How do brokers make money on loans?

How do brokers make money on loans?

A mortgage broker is not an employee of any bank or other lender, so they don't receive a regular salary. Instead, they...

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Do mortgage brokers do loans?

Unlike lenders, who lend you money directly, a broker doesn't provide loans. They have relationships with a variety of...

Is loan originator same as lender?

A loan originator can refer to the entity or institution (lender) that initiates the loan and also the individual...

How does mortgage broker make money?

They typically earn a commission of around 1% to 2% of the loan value. Mortgage brokers can work independently or belong...

What is the difference between a mortgage banker and a loan originator?

A mortgage loan originator is different from a mortgage banker in that the originator will not make a decision to approve ...

Is a loan officer the same as a loan originator?

They can also be referred to as a loan officer. When you apply for a home loan, you can work with a loan officer, or you...

What is the difference between lender and originator?

A mortgage loan originator (MLO) is a person or institution that helps a prospective borrower obtain the right mortgage...

In what way is a mortgage broker different than getting a loan from a bank?

Mortgage brokers work with a variety of lenders, giving them access to many products at many prices. That means you can...

What does brokering a loan mean?

A loan broker, or mortgage broker, is the intermediate person between a lender and a borrower. While a borrower can take...