The main difference between the 2 types of lenders such as 1) Mortgage Broker - they originate loans with the intent of selling them to wholesale financing institutions; 2) Mortgage Banker - they are lenders that are big enough to originate loans plus bundle pools of loans that they then offer to one of the huge 3 financing institutions - Fannie Mae, Ginnie Mae, or Freddie Mac, and also jumbo loan investors. The broker gets a lower rate from the lender and then the broker will include onto that rate his fee. A benefit of using a mortgage broker is that some of the most highly certified loan officers in the service work for mortgage brokers.

Zebra Mortgages