Difference between Mortgage Broker and Loan Officer
Visible difference between a mortgage broker and a banker is that banker prudently uses his short duration credit line to submit or fund a loan till time loans are sold to secondary market. Subsequently profit is re-paid. Banker who is able to sell maximum of loans is considered as a successful banker. On other side, a mortgage banker is links buyer with financing banks, corporations, financial institutions or money lenders offering him a wide range of options for right selection of mortgage. He is an expert mentor who leads buyer to cover an extensive and complex voyage of home loan lending process. Whereas both serve their own organizations as well as deal their respective clients also.