Coldwell Banker Residential 26
Dawn & Dennis Martin- The Martin Team, Coldwell Banker Residential 26Phone: (303) 870-5896
Email: [email protected]

Mortgage broker vs mortgage banker: What's the difference?

by Dawn & Dennis Martin- The Martin Team 09/25/2022

When seeking financing to buy a home, many homeowners work with either a mortgage broker or a mortgage banker. While the terms are often used interchangeably, brokers and bankers play different roles in the mortgage industry. 

Here is a quick guide to mortgage bankers to help you learn more:


Mortgage banker vs mortgage broker

While they have similar names, mortgage brokers and mortgage bankers have very different jobs. A mortgage broker will assist you in finding a good deal on mortgage loans from multiple lenders. A mortgage banker actually originates and funds the loan.

Unlike banks, mortgage brokers are not financing loans themselves — they simply help you choose a loan that best suits you. A lender uses their cash to provide borrowed money, while the broker provides only assistance from the lender to the borrower.


Understanding mortgage bankers: What do they do?

Mortgage bankers usually work for banks in a specific lending department. Their work involves evaluating mortgage applications to determine if a potential borrower meets the financial institution requirements. Some mortgage bankers specialize in a specific type of mortgage, which can be helpful for borrowers with unique circumstances.


Other services & responsibilities

Mortgage bankers may also service or sell loans. As a loan servicer, they handle the payment processing aspect of the loan. This can include managing escrow accounts and providing payoff letters.

Some mortgage bankers sell loans to third-party servicers. This gives them a better opportunity to provide loans to additional borrowers, since it frees up their cash on hand.

How do you choose between a mortgage banker and a mortgage broker? There are advantages and disadvantages to both options, and much of the choice comes down to personal preference. 


However, understanding the way a mortgage banker works in comparison with how a mortgage broker works will help loan applicants make the best decision for their financial future. 


About the Author
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Dawn & Dennis Martin- The Martin Team

A Winning Tradition Together, Dennis and Dawn Martin represent a winning tradition for home buyers and sellers throughout the Denver Metro area. Like the great Rocky Mountains themselves, this father and daughter business team continues to stand tall when it comes to providing the highest level of real estate service possible.  

Competitive, caring and fiercely committed to always going the extra mile on behalf of the people they serve, Dennis and Dawn view each client they serve as another member of there extended family. They believe great service stands the test of time, which is why they're always looking for new and better ways to improve on there already high standards.  

It's also why so much of their business comes from referrals and past clientele. Call them before your next move and put their winning traditions to work for you.  

A Fitting Partnership As native residents, Dennis and Dawn Martin are proud to be part of this rich heritage, Indeed, those who know them best will tell you they are yet another great Rocky Mountain tradition,  That's because this unique father and daughter business team have been making a positive difference in the lives of local residents throughout the Denver Metro area for several generations.  

The Martins like to refer to their service as "Hi Tech and Hi Touch. Dawn is the computer savvy entrepreneur who utilizes the very latest technology to streamline the home buying an selling process for clients,   Dennis the hands on consultant who pride himself on his extremely personal and caring service. For clients, however, it's really the best of both worlds, which is why so many people , including their kids and grandchildren, return to the Martins for all their real estate needs.  

So when you're ready to buy or sell your next home in the Denver Metro area, tap into another great Rocky Mountain tradition. Give Dennis and Dawn Martin a call. With over 50 years of local real estate experience between them they represent A Winning Tradition for home buyers and sellers alike