What’s The Difference Between Mortgage Brokers And Mortgage Bankers?
August 28th, 2008 By Peter G. Miller
In general, a mortgage banker has the ability to make loans from his or her own funds. A mortgage broker finds funds for a borrower from investors such as insurance companies, commercial banks, S&Ls, and pension funds.
As a practical matter, in many cases mortgage bankers act as mortgage brokers — and so do commercial banks, S&Ls, thrifts and other “lenders.”
© Copyright 