The primary distinction in between the two types of lenders such as 1) Mortgage Broker - they originate loans with the intent of selling them to wholesale lending institutions; 2) Mortgage Banker - they are lenders that are huge enough to originate loans plus bundle swimming pools of loans that they then offer to one of the huge three lending organizations - Fannie Mae, Ginnie Mae, or Freddie Mac, and also jumbo loan financiers. The broker gets a lower rate from the loan provider and then the broker will include onto that rate his charge. An advantage of using a mortgage broker is that some of the most extremely qualified loan officers in the business work for mortgage brokers.

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