What is the difference between a mortgage broker and a loan originator?
Answers:
They are primarily one and the same. Or should I say we are. I am a broker and hold also been refered to as a consultant, or originator. They all do impossible to tell apart thing just a title.
somewhat simular, a loan arranger is the person some folks begin, set as an originator; places you with a mortgage broker that has $$$ at his fingertips. Source(s): exp
They're generally the same entity... loan officer, loan originator, mortgage broker, etc. Though, a true broker will own the company and/or be licensed by the state.
A mortgage broker finds you a loan with a mortgage company. The mortgage company is the loan originator.
A loan officer is an member of staff for a mortgage company or lender and is not required to be licensed. A mortgage broker is a licensed professional and works as a contractor (received a1099 not a W-2) for its earnings. Source(s): Mortgage Broker
bletza.com
Hi there-
Ive be in the mortgage lending business for 6 years and hold wondered about this question also. There really isn't a difference within the two, it depends on the company that the person works for. Brokers work for Brokerage firms and originators work for big lend firms. Good luck!
Denielle
denielle.hass(a)americanhm.com
Related Questions:
What can you do when the landloard is not paying the mortgage and get forclose on my house ?
now a friend of mine must move out because his landloard has not be paying the mortgage for several months. Can't i sue or something ? It isn't your house if you are renting. ...