A person, corporation or firm not otherwise in banking and finance that normally provides its own funds for mortgage financing as opposed to savings and loan associations or commercial banks that use other people's money; namely that of their depositors--to originate mortgage loans Although some mortgage bankers do supply permanent long-term financing, the majority specialize in supplying short-term and interim financing, either through their own resources or by borrowing from commercial sources Mortgage Bankers Association of America Website
a company that originates loans and resells them to secondary mortgage lenders like : Fannie Mae or Freddie Mac
A company or individual who creates mortgage loans, sells them to other investors and handles mortgage-related services BACK TO TOP
An entity that originates mortgage loans, sells them to investors and services the loans
A company or individual that originates mortgage loans and sells them to investors, while taking care of borrowers' loan payments, records, taxes, and insurance
- A company which originates mortgages for a lien to the secondary mortgage market (for example to Fannie Mae or Freddie Mac)
a firm, individual, or corporation that originates, sells and/or services loans secured by mortgages on real property
An organization that originates mortgages and then sells them to investors, usually retaining servicing rights Income is derived from origination and servicing fees Funding for the mortgages is usually from borrowings, which are paid off when the loan is sold
A person or firm that originates your mortgage loan, collects and manages your payments and sells loans in packages to outside investors The mortgage banker is not really a "banker," but a middleman who arranges and sells loans The mortgage banker negotiates the terms of your loan and prepares the loan documents Usually a mortgage banker will also service your mortgage for the life of the mortgage (see Servicing)
A company that originates mortgages exclusively for resale in the secondary mortgage market
A company providing mortgage financing with its own funds rather than simply bringing together lender and borrower, as does a mortgage broker Although the mortgage banker used its own funds, these funds are generally borrowed and the financing is either short term or, it long term, the mortgages are sold to investors (many times insurance companies) within a short time
Originates mortgage loans, loaning you their funds and closing the loan in their name Usually an employee of a bank, S&L
An individual or company that originates mortgages exclusively for resale in the secondary mortgage market
For a more complete discussion of mortgage banker, see "Types of Lenders " A mortgage banker is generally assumed to originate and fund their own loans, which are then sold on the secondary market, usually to Fannie Mae, Freddie Mac, or Ginnie Mae However, firms rather loosely apply this term to themselves, whether they are true mortgage bankers or simply mortgage brokers or correspondents