Feb 22, 2006, 21:31,
A listing broker is the broker the seller hires to represent him through the listing agreement. A selling broker is the broker who produces a buyer for the property. He divides the commission with the listing broker at settlement.
Aug 18, 2005, 13:10,
The Mortgage Industry accoounted for $18 Billion in loans last year. As a mortgage broker you can expect to take your cut out of that very large pie. And the best part is, you can get into this profession with almost no education or formal training. No other profession is so easy to get into yet offers such a high-end, six-figure earning potential.
Aug 14, 2005, 20:35,
Loan Administration as the name suggests is the process of completely administering the loan approval and loan payment procedure. In other words, this involves the administration of loans from origination to maturity of the loan. Generally, the Mortgage Lender or Banker would assume the responsibility of Loan Administration.
Aug 14, 2005, 20:30,
Mortgage Processor or Loan Processor completes the loan file and gathers all the information necessary from the borrower and submits the same to the underwriting department. It is the responsibility of the Mortgage Processor to coordinate the customer needs with the available programs by obtaining mortgage loan approval for all qualified applicants within an established time frame.
Aug 14, 2005, 20:26,
Mortgage Underwriting is the process of getting an approval for a mortgage application based on verification of borrower's financial information such as credit history and scores. There are a number of rules pertaining to each mortgage program such as the eligibility of borrower, the type of property involved, the credit history and so on. It is also the process of determining and controlling the risk of loss.
Aug 14, 2005, 20:22,
The Mortgage Industry has grown tremendously over the last decade. Types of Mortgage Loans, especially for home buyers, have increased greatly. With the kind of financing options available to the home buyer, it is difficult for the home buyer to make informed decisions and chose the right kind of loan. This is where Mortgage Origination can be extremely useful.
Aug 14, 2005, 18:01,
The Commercial Real Estate industry has evolved drastically in the last decade. Interest rates the last few years have been low and steady. Besides, capital available for commercial real estate is quite high. Subsequently, the Real Estate Mortgage industry has come up very well. The number of players involved in this industry has grown significantly, giving rise to considerable competition.
Aug 14, 2005, 17:52,
Mortgage lenders are generally classified into three types:
Savings and Loans Associations
Aug 14, 2005, 16:37,
A Mortgage Banker is a company or a corporation, like a bank, that lends its own funds to borrowers and also brings together the borrowers and the lenders. A loan officer who works for a bank can also be called a mortgage banker. The function of the mortgage banker is to sell the underlying loan to an investor and often the mortgage banker continues to service the loan. Sometimes the mortgage banker also sells the loans to secondary markets.
Aug 14, 2005, 16:22,
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.
Aug 14, 2005, 15:41,
There are abundant opportunities for individuals interested in pursuing a career in the mortgage finance industry.
Here a complete list of available career options in the mortgage industry is provided so that you can educate yourself about the mortgage lending process and determine where your skills and interests would best fit.