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June 20, 2005
More Types Of Mortgage Lenders
Some good basic definitions of the players in the home mortgage market.
Read the whole thing.Mortgage Brokers are companies that originate loans with the intention of brokering them to wholesale lending institutions. A broker has established relationships with these companies. Underwriting and funding takes place at the wholesale lender. Many mortgage brokers are also correspondents, which is why many of them also claim to be mortgage bankers.
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Posted on June 20, 2005 09:32 AM by Financ81.
Filed in Mortgage Calculator under financing terms.
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