What is MORTGAGE BROKER? What does MORTGAGE BROKER mean? MORTGAGE BROKER meaning & explanation

What is MORTGAGE BROKER? What does MORTGAGE BROKER mean? MORTGAGE BROKER meaning & explanation. red deer mortgage broker

What is MORTGAGE BROKER? What does MORTGAGE BROKER mean? MORTGAGE BROKER meaning & explanation video duration 3 Minute(s) 21 Second(s), published by The Audiopedia on 02 04 2017 - 17:30:00.

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In this episode, we discuss the differences between a real estate agent and .

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What is MORTGAGE BROKER? What does MORTGAGE BROKER mean? MORTGAGE BROKER meaning - MORTGAGE BROKER definition - MORTGAGE BROKER explanation.

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.

Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however, the role of the mortgage broker has become more popular. In many developed mortgage markets today, (especially in Canada, the United States, the United Kingdom, Australia, New Zealand and Spain), mortgage brokers are the largest sellers of mortgage products for lenders.

Mortgage brokers exist to find a bank or a direct lender that will be willing to make specific loan an individual is seeking. Mortgage brokers in Canada are paid by the lender and do not charge fees for good credit applications.

Many mortgage brokers are regulated to assure compliance with banking and finance laws in the jurisdiction of the consumer. The extent of the regulation depends on the jurisdiction. Only one state within the United States has no laws that govern mortgage lending.

A mortgage broker works as a conduit between the buyer (borrower) and the lender (banks and non-bank lenders), whereas a loan officer typically works directly for the lender. Many states require the mortgage broker to be licensed. States regulate lending practice and licensing, and the rules vary from state to state. Most states require a license for those persons who wish to be a \