Mortgage Brokers vs. Banks

There are a variety of different ways to finance a mortgage, but I’d like to focus on two specific channels, “mortgage brokers versus banks.”

There are mortgage brokers, who work as middlemen between banks/mortgage lenders and borrowers on the wholesale end to secure financing for homeowners. And there are banks and lenders that work directly with homeowners to provide financing on the retail level.

Mortgage brokers are a big part of the mortgage business, accounting for more than 10 percent of all home loan originations.

In fact, their share of the mortgage pie was as high as 30 percent during the mortgage boom, but fell precipitously after the mortgage crisis ensued.

But brokers still serve a valuable role in the industry, and can be quite beneficial for both prospective homeowners and those looking to refinance.

To learn more contact us and check out this link:

http://www.thetruthaboutmortgage.com/mortgage-brokers-vs-banks/