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August 01, 2005
Mortgage Broker Advantages
Here is how your mortgage broker makes money in a transaction.
Basically, wholesale lenders use mortgage brokers as their loan officers. They offer a lower rate to the broker, the broker adds on his compensation, and the rate is usually about the same as you would get using a mortgage banker. Sometimes the rate is lower, sometimes higher, depending on how much compensation the broker adds on.
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Posted on August 1, 2005 08:48 AM by Mortga104.
Filed in Mortgage Calculator under mortgage brokers.
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