CassieNet News :: Mortgage Know-How :: RE: resposibility of a broker

Mortgage Know-How :: RE: resposibility of a broker

Author: Samantha
Posted: Sat Nov 26, 2005 4:41 pm (GMT -8)
Topic Replies: 1

Hi,

Brokers are a medium between the lenders and the consumers. They may be considered as an independent contractor.

They provide some the services to the lenders which help him to cut down the origination costs required for preparing loan package, loan application and counseling the borrower.

Also he helps the borrower to get the best loan available according to the borrower's financial condition.

Borrowers provide the consumer with the various products available with a number of lenders. Now the best deal depends on the consumers need. To some the lowest rate may be considered as the best one and to some other it may not be the best one if it comes with high points and fees.

The growing trend of consumers coming to the brokers, indicate that they are getting the desired services and the mortgage broker responsibility is getting fulfilled. So, you may expect a fair service from a good broker but you should keep an open mind always.

Hope this information will help you.

God bless you.

For MortgageFit,
Samantha
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