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The mortgage banker functions in a continuum extending from the seller/builder of the property to the seller's agent, to the mortgage borrower, to the mortgagee (the mortgage banker), and to the mortgage investor
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What is the difference between a wholesale mortgage lender and a mortgage banker?
There are many differences between a wholesale mortgage lender and a mortgage banker. Lenders lend the money to fund loans and the bankers may be secondary lenders.
What is a mortgage loan originator?
Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.
For what would one use the Coldwell Banker mortgage calculator?
You would use a Coldwell Banker mortgage calculator to estimate your monthly payment on a mortgage. To estimate the monthly mortgage payment you need to enter the purchase price, down payment, interest rate, property taxes, insurance, and mortgage term.
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
Reasons to Work with a Mortgage Banker?
Due to the high rate of mortgage defaults and declining home prices, many banks have tightened their mortgage lending practice and have made it quite difficult to obtain a mortgage. Those who are looking for a mortgage, and are having a difficult time securing a home loan, should consider working with a mortgage banker to get their mortgage. Working with a mortgage banker has many advantages compared to getting a mortgage through a traditional lender. The first reason to work with a mortgage banker when getting a mortgage loan is that a mortgage banker can often provide a borrower with lower interest rates and fees than traditional banks can offer. Mortgage bankers often work for institutions that only offer mortgages to their customers, as opposed to traditional banks that also provide deposit accounts and other loans. Because of this, mortgage bankers do not have the same overhead expenses and traditional banks and do not need to charge as high of an interest rate as traditional banks to turn a profit. The second reason to work with a mortgage banker that the mortgage bankers tend to have looser underwriting standards than traditional lenders. Traditional mortgage lenders and banks are suspect to the tighter federally guided underwriting standards. Since mortgage bankers are not, they are often able to provide mortgages to customers that would not normally qualify under the traditional lender's guidelines. However, the mortgage bankers tend to charge higher interest rates and fees as compensation for taking on the additional risk of lending to the otherwise high-risk borrowers. The third reason to work with a mortgage banker is that mortgage bankers are often able to provide different mortgage products than traditional lenders. While mortgage regulations have cut down on the types of mortgages that traditional lenders can offer, mortgage bankers have not been as affected. Mortgage bankers can still offer some unusual mortgage products including interest only mortgages, adjustable rate mortgages, and negative amortization loans which may not be offered by traditional banks.
When was The Mortgage Banker Group Inc. created?
The Mortgage Banker Group Inc. was created in 1996.
What is the population of The Mortgage Banker Group Inc.?
The population of The Mortgage Banker Group Inc. is 250.
Does a mortgage banker have to be licensed?
yes
Where can one find a guide on how to become a mortgage banker?
You can find a guide on how to become a mortgage banker online at the eHow or Mortgage Broker Daily websites. Once on the websites, do a search for Mortgage Broker to find the guide.
What is the difference between a wholesale mortgage lender and a mortgage banker?
There are many differences between a wholesale mortgage lender and a mortgage banker. Lenders lend the money to fund loans and the bankers may be secondary lenders.
What is a mortgage loan originator?
Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.
A mortgage lender that represents a pension fund is known as?
A mortgage lender than represents a pension fund is called a mortgage banker.
Does a Mortgage Banker quote terms and conditions of a loan?
Yes.
For what would one use the Coldwell Banker mortgage calculator?
You would use a Coldwell Banker mortgage calculator to estimate your monthly payment on a mortgage. To estimate the monthly mortgage payment you need to enter the purchase price, down payment, interest rate, property taxes, insurance, and mortgage term.
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
What does one need to major in to become a mortgage banker?
One needs to major in finance to become a mortgage banker. One needs to graduate from a recognized University. One needs to pursue a masters degree in marketing and finance in business administration.
Who would be the best person to go for mortgage advice--a banker or a lawyer?
For mortgage advice it's best to go to a banker. If you are thinking about filing bankruptcy, then you would want to speak to a lawyer. You might also want to try a financial planner.
