Mortgage Banker vs. Mortgage BrokerOne of the most common questions we get asked is what is the difference between a mortgage banker and a mortgage broker. In our opinion, this is a very important question. A mortgage broker is, in essence, the middle man in a mortgage transaction. They originate a loan from a client and then check with various investors to see where to place the loan. Once they determined which investor to give the loan to, they then send the file to that investor to be processed, underwritten and eventually funded and closed. Often times there is a major disconnect due to lack of relationships with the investor as well as geographic location of the investor’s operations center. Most of these investors have centralized operations, so a loan originated in Oregon might be underwritten in Texas. At Big River Mortgage, we are mortgage bankers. Loan processing, to the final underwriting decision, to funding of a loan is done locally. Our borrowers receive unprecedented local service throughout the entire process. This internal control of the loan process allows us to perform at a very high standard which, in turn, translates into a faster loan process and very smooth closings.
Big River Mortgage
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Doing business in the following states: OR ML #2338
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