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Mortgage Banker Vs. Mortgage Broker
As published in 6 Southern California regional news papers.
By Brent C. Bruce
http://www.dailybulletin.com/realestatenews/ci_14192314
The recent real estate and mortgage recession has been front and center in nearly all of our lives. Many of us, our friends and our neighbors have fallen behind on our mortgage payments and found our houses “upside down” with loan balances much higher than our home’s value. All too often this has resulted in the pains of foreclosure.

This mess that we now face begs the question as to how this all happened, and in many cases the finger is pointed to the mortgage industry and whether it was the fault of the mortgage banks or the mortgage brokers. I thought this would be a good time to shed some light on the differences and similarities between the two.

The fact of the matter is that they are not very different. Below I will describe the some of the advantages and disadvantages to both. I will also explain the mystery of how each of them makes their profit.

Advantages

- Broker – The advantage of the mortgage broker is service. The mortgage broker has the ability to shop for the best ... more

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