Your #1 Income Property Resource.

 No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information

 Welcome to! Visit the Real Estate Investing Forums.

Real Estate Articles 
 Real Estate 
 Second Home
 Success Stories
 Real Estate Q & A
 Real Estate News
 Real Estate Law & Policy
 Money Making Ideas
 Home Improvements
 Tax and Insurance
 Appraisal and Inspection
 Log Homes
 Mobile Homes
 Home Buyers
 Constructions and Home Buildings
 Real Estate Investing 
 Vacation Home
 Rental Property
 Preconstruction Investment
 Marketing Secret
 Joint Venture
 Land Investment
 Lease Purchase
 Probate Real Estate
 Real Estate Clubs
 Short Sales
 No Money Down Investing
 Fixer Uppers
 Resort Home
 Loft Apartment
 Property Development
 Tax Incentives
 Investing Strategy & Tips
 Real Estate Wholesale Property
 How To Articles
 Subject To
 Real Estate Books
 Apartment Investing
 Commercial Real Estate
 Residential Property
 Hotels and REITs
 1031 Tax Deferred Exchange
 Investment Property
 Real Estate Advanced Techniques
 Trust Deed Investments
 Creative Home Buying
 Wholesale Real Estate
 Real Estate Auctions
 Tax Lien Certificate
 HUD Homes
 Real Estate Regional USA
 Austin, Texas
 Colorado Springs
 Reno, NV
 Market Analysis
 Property Management
 Condo Conversion
 real estate guru
 Bank Foreclosure
 VA Homes
 Buy To Let
 Rent to Own
 Tax Deed
 Stop Foreclosure
 Retirement Planning
 Real Estate Investors
 International Real Estate
 United Kingdom
 Real Estate Seminars
 Condo Hotel Investments
 NNN Properties
 real estate notes
 Real Estate Education
 REO Properties
 Life Estate
 Income Properties
 Mortgage and Finance 
 Mortgage Leads Generation
 Mortgage Leads - Leads Mortgage
 Mortgage Marketing
 Creative RE Financing
 Hard Money Lender
 Debt Consolidation
 Income Property Financing
 Home Equity
 Credit Repair
 Mortgage Tools
 Home Construction Loan
 Commercial Loans
 Owner Finance
 Private Lenders
 Discounted Notes
 Assumable Mortgages
 Seller Financing
 Equity Lines of Credit
 Real Estate Pros 
 Real Estate Agent and Broker
 Mortgage Agent and Broker
 Real Estate Marketing
 Real Estate Consultant
 Real Estate Resources 
 Mortgage Foreclosure Example
 Mortgage Origination forms
 Property Transfers
 Tenancy Agreement and Form
 Internet and Online

Real Estate Pros : Mortgage Agent and Broker Last Updated: May 14th, 2012 - 22:24:01

Begin Your Mortgage Broker Career - Become A Mortgage Broker

Email this article
 Printer friendly page

A Mortgage Broker is a company or individual that charges a commission and brings together lenders and borrowers for the purpose of loan origination. The primary function of the Mortgage Broker is to ensure that the borrower finds a perfect match in the form of an ideal lending institution. The deal should be such that it not only benefits the borrower but also represents a solid and good investment for the lending institution.

A loan officer works directly for the mortgage loan company. The function of the loan officer is to take in the applications and ensure that the borrowers are well-educated about the nature of the loan and are clear about the financing process.

The rules and policies for obtaining a mortgage broker license differ from state to state. Each state has its own statutes, rules and regulatory agency that govern the mortgage industry. Most states require that mortgage brokers obtain a valid license before they can operate their mortgage brokering business. It is imperative that you find out the rules and regulations pertaining to specific education or experience requirements, insurance, net worth, and other data in your state for obtaining a mortgage broker license.

How are mortgage brokers different from mortgage bankers?

Mortgage banker is the lending institution whereas mortgage broker works as an agent of a number of lending institutions. A mortgage banker is the lender, the one making the loan directly. When you approach a mortgage banker, you will get a list of mortgage loans and schemes from that particular banker only. Whereas the responsibility of a mortgage broker is to find the mortgage loan that best meets the criteria of the borrower from a pool of mortgage loans. The difference is the number of choices you get when you choose a mortgage broker. If you are confident about the mortgage banker and the schemes offered to you and have made up your mind that you want a particular mortgage banker to finance your loan, then you do not require the services of a mortgage broker. The broker does everything that the lender or a mortgage banker is expected to do, such as checking your financial records, personal history and so on. But once your loan application is compiled along with required data, the broker will select a suitable mortgage lender that is most likely to accept your application based on your financial and personal information.

What skills are expected from a mortgage broker?

If you are looking for a job at a mortgage brokerage firm or mortgage lending institutions, ideally you should have the following skill sets:

• A college degree or equivalent
• Previous experience in either mortgage industry or sales industry is recommended. Any experience in a non-mortgage industry should prove that the individual is able to utilize the experience for the mortgage origination.
• Excellent communication and inter-personal skills
• Computer word processing skills along with typing skills and the ability to use the Internet is a plus

Mortgage brokers and loan officers earn their income mainly through commission. The amount of commission received by the broker is based on the volume of loans made and the overall performance of the broker. A number of mortgage brokers start their own companies after gaining considerable experience with a reputed mortgage brokerage or lending firm.

Related Mortgage Career Topics:

Article Source:

Best kept mortgage leads secrect? Find here!


Do you own real estate articles or stories and want to share with other investors? 
You have chance to win
$100 Amazon Gift Certificates. We will give away 3 prizes for top authors each month!

Email your articles or stories to:


© Copyright 2001 - 2010 by            Page copy protected against web site content infringement by Copyscape   



Visit Real Estate Forums for every real estate investing topics!  Enter Here


Top of Page

Home Courses Real Estate Forms Income Properties For Sale Forums CalculatorReal Estate Education    

Copyright © 2001 - 2010, All Rights Reserved. Privacy Policy in Observance.