A Mortgage Broker is a person who helps consumers or businesses to sell their mortgage products acting as a middle –man. In beginning, Lenders sold their properties in open market with great difficulties but after some time, The role of Mortgage Broker was introduced. and it became popular as the need arose.
The Mortgage Broker simplify the problems in selling the mortgage products for lenders. Another task is done by the Mortgage Broker is to make compliance with mortgage laws and regulations.
Jobs of Mortgage Broker
A Mortgage Broker has different jobs to do which changes with rules & regulations of the state. Broker gives advice to the borrowers when contacted. and Broker is legally liable if advice goes wrong. Fees will be charged.