What Is a Brokered Mortgage Loan?

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Tip 1 - What Is a Brokered Mortgage Loan? | eHow

Published: 9 years, 3 month(s) ago | Submitted by George Gardner | permalink

Mortgages may be originated by bank employees or they may be originated by third parties known as mortgage brokers. A brokered mortgage loan is one that is originated by someone who is not the lender.

For further reading: http://www.ehow.com/facts_6022123_brokered-mortgage-loan_.html ^[1]

Tip 2 - What Does a Mortgage Broker Do? Broker vs. Banker vs. Lender - Zillow

Published: 9 years, 3 month(s) ago | Submitted by Neil Dorward | permalink

For further reading: http://www.zillow.com/mortgage-rates/buying-a-home/what-does-a-mortgage-broker-do/ ^[2]

Tip 3 - Mortgage Broker Definition | Investopedia

Published: 9 years, 3 month(s) ago | Submitted by Alexander Schuch | permalink

An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages. A mortgage broker gathers paperwork from a borrower, and passes that paperwork along to a mortgage lender for underwriting and approval.
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For further reading: http://www.investopedia.com/terms/m/mortgagebroker.asp ^[3]