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Mortgage Broker financial definition of Mortgage Broker – Mortgage broker A company or individual that places mortgage loans with lenders, but does not originate or service loans like a mortgage banker. Mortgage Broker One who facilitates transactions between mortgage borrowers and lenders. Mortgage brokers are responsible for providing paper work between the parties and generally streamlining the process of.
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Talking With John Webster – Mortgage Rates & Mortgage. – · Scotia Mortgage Authority (SMA) is the broker division of Scotiabank, and it currently originates more than 50% of Scotiabank’s residential mortgages. Last week, SMA became the top-volume lender in the broker channel, based on Davis + Henderson’s first-half 2010 origination statistics.
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· Mortgage Broker: A mortgage broker gathers paperwork from a borrower and passes that paperwork along to a mortgage lender for underwriting and approval. The mortgage.
Webster – mortgage – Know the difference between a mortgage lender (like Webster) and a mortgage broker. Mortgage brokers do not lend money; they find mortgage lenders for their customers. As a result, they also charge a fee. Also, mortgage brokers don’t always make it clear that they are brokers rather than lenders, so be sure to ask questions when you’re shopping around for a mortgage. 2.