A lender funds the loan, may service the loan payments, and ensure the loans' compliance with underwriting guidelines. The mortgage broker, on the other hand, originates the loan. A detailed application process, financial and credit worthiness investigation, and disclosure requirements must be completed in order for a lender to evaluate a loan request. The broker simplifies this process for the borrower and the lender, by conducting this research, counseling consumers on their loan package choices, and enabling them to select the right loan for their needs.
Detroit Michigan Brokerage Agreement Regarding Negotiating Loan and Receiving Placement Fee
Category:
State:
Multi-State
City:
Detroit
Control #:
US-01513BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
