What is a mortgage agent?
A mortgage agent is an independent real estate financing professional who specializes in the origination of residential and/or commercial mortgages. Typically they do not fund or service the loan itself, but instead, they act as an agent or manager for capital sources who act as loan wholesalers. A mortgage agent is also an independent contractor working, on average, with 40 wholesale lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, a agent provides consumers the most efficient and cost-effective method of offering suitable financing options tailored to the consumer’s specific financial goals.
A Mortgage Agent is an independent Real Estate financing professional who specializes in the origination of residential and/or commercial mortgages. Typically, they do not fund or service the loan itself, but instead, they act as an Agent or Manager for capital sources who act as loan wholesalers. A Mortgage Agent is also an independent contractor working, on average, with 40 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, a agent provides consumers the most efficient and cost-effective method of offering suitable financing options tailored to the consumer’s specific financial goals.
A mortgage agent is an independent professional that will work with multiple lenders to find you a mortgage that will suit your needs. They will find a lender with the best rates and terms for your situation. There is usually no fee to work with a mortgage broker if you qualify under standard lending guidelines. Your mortgage professional gets paid a commission or finders fee from the lender. If there is a fee, this will be disclosed and documented up front.
Related Questions
- How do I file a complaint against a mortgage broker, mortgage banker, mortgage agent, escrow agency, escrow agent, loan modification consultant, foreclosure consultant or covered service provider?
- How do I confirm if an agent has taken the required mortgage agent course?
- HOW COULD A REAL ESTATE AGENT (OR ANYONE) COMMIT MORTGAGE FRAUD?
