The mortgage professor's website
Mortgage broker. Ecome more competitive, the role of the mortgage broker has become more popular. Today in most developed mortgage markets (especially the U.S., UK, Australia, Spain and Canada) mortgage brokers are the largest distributors of mortgage products for lenders. However, given the critical nature of the mortgage broker's role, a great number of consumers are now seeking out the services of Certified Mortgage Planners, industry experts that work in concert with Certified Financial Planners to align consumers' home finance position with their larger financial portfolio(s). The majority of mortgage brokers are regulated to ensure a level of protection for the consumer. The extent of the regulation depends on the jurisdiction. Contents 1 Why use a mortgage broker? 2 Tasks of mortgage broker 3 Mortgage brokerage in the USA 3.1 Difference between a mortgage broker and a loan officer 3.2 Industry competitiveness 3.3 Secondary market influence 3.4 Improved consumer laws 3.5 Predatory lending and Mor
Mortgage brokers and lenders, office of financial regulation
Tgage servicing fraud 4 Mortgage brokerage in Canada 5 Mortgage brokerage in the UK 6 See also 7 External links edit Why use a mortgage broker? In competitive mortgage markets many lenders use an array of rate offers and other incentives to attract customers. To many consumers, due to their infrequent purchases of mortgage products, the mortgage market may appear confusing and somewhat daunting. A mortgage broker can guide them through the process of selecting a suitable mortgage and offer mortgage and property related financial advice. For borrowers with poor credit records, or other unusual circumstances, finding a lender may be difficult. A mortgage broker, having specialized knowledge and multiple lending sources, will normally be a valuable resource in obtaining financing. edit Tasks of mortgage broker The nature and scope of a mortgage broker's activities varies with jurisdiction. For example in the UK anyone offering mortgage brokerage is offering a regulated financial activity;
