June 19, 2009
Author: William M. Davis
Who is a Mortgage Lender?
Normally banks and other lending institutions issue mortgage loans to those qualifying borrowers. They generally require a property based on which they will grant a mortgage loans on the terms and conditions mutually agreed upon. Both banks and other private lending institutions participate in mortgage lending activities. The services of mortgage lending activities are normally supplemented by a mortgage broker who acts a mediator between the lender and the borrower. He helps the lender find a customer and a borrower find a suitable lender.
Different kinds of Mortgage Lenders
There are different kinds of mortgage lenders. They are
Nationalized …
May 8, 2009
Author: William M. Davis
Who is a Mortgage Broker?
Any person who acts as a middle man between the lender and the borrower is called broker. Where a mortgage transaction is involved he is called a mortgage broker. He helps in bridging the technical requirements of the lending institution with the requirements of a borrower.
Role of a Mortgage Broker
The role of a mortgage broker is critical in closing any loan transaction. He strives on the commission he receives on every loan transaction closed by him. It is a career option which in reality does not require any formal schooling, but offers a six figure salaries.
An …