mortgage banker

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 ?
Have never lost my job," a mortgage banker at a different bank said in an email.
Building upon this success, Waters oversaw the launch of the first issue of The Mortgage Banker on Jan.
And although E-Loan itself has become a mortgage banker and can lend in its own name, e-loan.com remains a multilender Web site where the consumer can shop among many different lenders for the best deal.
I believe it will, and that the thrift of the future will continue to play a major role as a conduit of housing funds, perhaps as a community bank or as a mortgage banker.
"Luckily, the mortgage banker arranged a loan that paid off the balloon payment and refinanced what was still owed on the house." With balloon financing, a huge payment is due when the loan term ends.
DANA ABERNATHY, senior account manager for Emeryville, California-based National Mortgage Insurance Corporation, has been named chairman of the Mortgage Bankers Association's (MBA's) Certified Mortgage Banker (CMB) Society.
Greensboro, NC, August 25, 2011 --(PR.com)-- The Mortgage Bankers Association (MBA) has awarded Peter Fugaro, President of Prymak, a mortgage technology and marketing consulting firm, the Certified Mortgage Banker (CMB) designation.
Of the group's mortgage banker members, 60 percent expect next year to be a seller's market for housing while 89 percent said they believe the market could weather a possible interest-rate increase.
Mortgage industry accounting and financial management tools provider Advantage Systems' AMB (Accounting for Mortgage Bankers) solutions has been chosen by Redlands, California-based mortgage banker Mountain West Financial as a recruiting tool to attract branch managers, the company said.
Grandbridge Real Estate Capital LLC, the commercial mortgage banking subsidiary of Branch Banking and Trust Company, has announced that it would acquire a commercial mortgage banker.
8 July 2014 -- Denver US-based direct mortgage banker American Financing said it is open for business in California following its recent licensing in the Western US state.
said it has completed the purchase of Houston Capital Mortgage, a mortgage banker that has been in business for more than 25 years.

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