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.