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A general question. Please define in 1-2 liner responses what each of
these
are and how they differ.
Direct Lender
Mortgage Originator
Mortgage Lender
Mortgage Banker
Mortgage Broker
I am shopping refinancing options. I have run into all of the above
variations
so far. In general I know that a mortgage broker farms out my business
to a lender, and acts as my agent, and makes a commision from the
lender. But I may be wrong. The difference between a direct lender and
an originator is unclear to me.
I have heard "We're a {fill in from above}"
Can someone in this forum define the ones above, and perhaps fill
in the one or two I havent heard yet?
Thanks
MPD
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Mtg Broker, Mtg Originator, Mtg Lender, Mtg Banker. Help!
