mortgage banker

(redirected from Mortgage Bankers)

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

One who works for, or, especially, manages, a mortgage bank. Mortgage bankers are responsible for making mortgage loans and ensuring their timely payment. Because they specialize exclusively in mortgage loans, they often have greater access to Fannie Mae, Freddie Mac, or similar federal banking institutions. This gives them access to capital to make loans that they may not otherwise have because they work for non-depository institutions. Very often, mortgage bankers sell the mortgages they issue so as to have easier access to capital without having to wait for the loans' repayments. This in turn allows them to make more mortgage loans. See also: Mortgage-backed securities.

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.

mortgage banker

One who is not an institutional lender (bank,credit union,etc.) but who loans their own funds for mortgage financing.The mortgage banker might borrow the money on a line of credit, in order to fund the loans, but it is still responsible for providing the cash. Contrast with a mortgage broker,who acts only as an intermediary.

References in periodicals archive ?
Magazine adds Nationwide Mortgage Bankers to 2019 list of fastest growing companies
19 scoop on Bank of the Ozarks' decision to shut down its mortgage operation drew notice, a jolt of shock and fear spread among the state's mortgage bankers.
In 1936 and 1937, the Mortgage Bankers Association of America (MBA) published its four-page MBA News Review, a semi-monthly publication that MBA, in the words of 1939 President S.M.
The two-day Summit in Washington, DC will focus on the shift to independent mortgage bankers, new business models for managing mortgage servicing rights, and the uncertain regulatory environment.
He is a member of the Mortgage Bankers Association, Mississippi Bankers Association, Mississippi Mortgage Bankers Association, Hattiesburg Area Association of Realtors and the Greater Hattiesburg Homebuilders Association.
Lawrenceville, GA, May 23, 2014 --(PR.com)-- The Mortgage Bankers Association of Georgia (MBAG) Board of Governors has elected John David, “J.D.,” Crowe, president of Southeast Mortgage of Georgia, Inc., to serve as 2014-2015 President of the association.
MULTIFAMILY MORTGAGE origination volumes contributed to a 25 percent increase in commercial/multifamily mortgage origination volumes from Q1 2012 to Q2 2012--with lending volume up 39 percent from Q1 2011, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
The Mortgage Bankers Association has argued before Congress that the proposed definition of qualified residential mortgages will wind up forcing more borrowers into using government-backed loans.
The numbers come from the Bureau of Labor Statistics and were compiled by the Mortgage Bankers Association, which hasn't recorded such low numbers in the industry since August 1997.
Type of financial institutions insured: Banks, savings and loans, credit unions, mortgage bankers, finance companies, mortgage servicers.
Homebridge Mortgage Bankers announced that the company is changing its name to Refinance.com.
TELECOMWORLDWIRE-13 April 2006-PushMX unveils hosted software office suite for mortgage bankers and brokers(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

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