Blog Category: mortgage banker

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What Is The Difference Between A Direct Lender, Mortgage Broker And A Bank?

What Is The Difference Between A Direct Lender, Mortgage Broker And A Bank? The way that a mortgage lender is structured is critical in the current mortgage environment. One structure that is getting a lot of attention is direct lenders (aka mortgage bankers). What that means is that the lender is allowed to do the appraisal in-house. They also control the underwriting in-house. And preparation of the closing documents. You could say they operate as if they were the bank. Further, Read More

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Where To Get The Best Service In The Mortgage Industry?

I have cited a thorough and expensive research study several times recently in other blog posts. One message I have not relayed that comes from the data in that study is how poorly the big banks are at execution when it comes to doing mortgages. I will cut and past comments directly from the study that quotes numerous Realtors. I will let their comments speak for themselves. Consumers deal with mortgage transactions once every 3-7 years. But Realtors deal with loans every day. Their opinion is the most valid, unbiased and relevant. I have heard a lot of reasons as to why a homebuyer thinks its best to get a mortgage from a big bank. All of them are wrong headed.

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