What is a "Mortgage Banker"?

A mortgage banker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers normally pass the actual funding and servicing of loans on to wholesale lending sources. A mortgage banker is also an independent contractor working with (on average) as many as 15 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, your banker provides the most efficient way to obtain financing tailored to your specific financial goals. What Do Mortgage Bankers Do? In the volatile home-lending market, mortgage bankers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the banker's most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage banker can wade through the mountains of rate data and program options, ...

A mortgage banker is an entity, such as a company or a person, that originates and sells mortgage loans directly to a borrower. A mortgage banker sometimes services mortgage loans as well; however, in most cases, the mortgage banker sells the loan to a secondary mortgage company soon after closing. Mortgage bankers are also called direct lenders or non-institutional lenders. A mortgage banker is often confused with a mortgage broker even though there is a significant difference between the two. A mortgage broker acts as a "go between" or intermediary between a person or company that needs financing for a mortgage loan and a lender who has money available to finance a mortgage loan; but a mortgage broker does not actually lend money. That is, the mortgage broker only brings the lender and borrower together whereas the mortgage banker makes the loan happen. A mortgage banker is not a bank and therefore is not required to follow state and federal laws that regulate the banking industry. ...  more

A mortgage banker is a real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers actually close and fund mortgage loans with their own resources. They may service the loans or pass that on to wholesale lending sources. A mortgage banker acts much like an independent contractor working with (on average) as many as 40 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, your mortgage banker provides the most efficient way to obtain financing tailored to your specific financial goals, unlike direct lenders who have access to only one company’s loan programs. By performing many of the tasks themselves they also do so in much more cost-efficient manner than mortgage brokers, who must charge borrowers for the services they contract others to perform. Mortgage bankers share responsibility for the loan with the wholesale lender, unlike mortgage brokers, and are focused on ...  more

As I have thought about those questions, it has become increasingly clear to me that MBA is much more than a simple trade association. In fact, we have evolved into what I call a (full-blown) industry association. What is the difference? Well, a trade association represents a single group within the whole value chain--a single group whose interests and priorities are crisply, but narrowly defined. That used to be us--when the term "mortgage banker" described a single role that filled all the space between the borrower and the investor. Life was simple then. An industry association, on the other hand, is an umbrella that covers multiple players (or trade groups) involved in a much broader industry--in our case, the industry of real estate finance. Think about MBA for a moment. Our membership is made up of a broad constituency of players. We represent residential, multifamily and commercial groups. Within those groups, our members are brokers, originators, aggregators, guarantors, ...  more

A Mortgage Banker can be an individual, but most often is a company that originates mortgages through it's own retail outlets and/or a network of outside entities who originate the mortgage and in turn "sell" that mortgage to the mortgage banking company. These outside entities can be mortgage brokers, other mortgage banking companies, banks and in rare instances, private individuals. Many Mortgage Bankers also perform the task of "servicing the mortgage". That is, collecting the payments, making sure that the taxes and insurance are paid and in the event that it becomes necessary, foreclosing on the property in the event that the mortgage goes into default. What Is A Bank? In relation to mortgage lending a Bank is a lending institution that also takes deposits and performs a host of tasks that are not directly related to mortgage lending, such as issuing lines of credit and making other kinds of loans than mortgages.

A mortgage banker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers normally pass the actual funding and servicing of loans on to wholesale lending sources. A mortgage banker is also an independent contractor working with (on average) as many as 40 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, your broker provides the most efficient way to obtain financing tailored to your specific financial goals. What Do Mortgage Bankers Do? In the volatile home-lending market, mortgage bankers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the mortgage bankers most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage bander can wade through the mountains of rate data and program ...  more

A mortgage banker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers have ability to underwrite and fund loans with their own money or they can broker loans. Whatever is best for our customer. A mortgage banker works with multiple sources of loans at any one time. By combining professional expertise with direct access to hundreds of loan products, your banker provides the most efficient way to obtain financing tailored to your specific financial goals. What Do Mortgage Bankers Do? In the volatile home-lending market, mortgage bankerss can serve as safeguards, offering their clients security, safety, and peace of mind. One of the banker's most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage banker can wade through the mountains of rate data and program options, ...  more

A mortgage banker is a company that originates mortgages and sells them to a secondary market.  more