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mortgage banker
(redirected from Mortgage bank)

    Also found in: Wikipedia 0.01 sec.
Mortgage Banker
A company, individual or institution that originates, sells and services mortgage loans.

Notes:
Don't confuse a mortgage banker with a mortgage broker. The distinction lies in the fact that a mortgage banker originates and services the loans whereas a mortgage broker only brings the two parties of a loan together.

Mortgage banker
A company or individual that originates mortgage loans and sells them to investors, while taking care of borrowers' loan payments, records, taxes, and insurance.
mortgage banker
An organization that makes real estate loans that are then resold to another party. The mortgage banker's income derives from the fees it charges to originate and service the mortgages. Sale of the mortgages gives the mortgage banker more funds to use in making additional loans.
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