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Post by genelia on Oct 31, 2011 4:54:51 GMT -5
In closing, there are a number of benefits relating to becoming a banker rather than a mortgage broker. Again, the fees are substantially higher, it provides more prestige in regards to working with clients, and your ability to expand your mortgage banking firm is much better than if you are simply acting as a brokerage.
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Post by stomach143 on Oct 31, 2011 5:07:35 GMT -5
A mortgage broker simply act as a liaison between a client and a number of different financial institutions that may or may not be willing to provide a client with a mortgage or related credit facility. One of the primary benefits to working as a mortgage bank rather than as a broker is that these firms have the ability to earn fees that are usually twice as a high. This is due to the fact that a mortgage banking firm has the ability to sell the closed loan to a secondary buyer.
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