Posted at 03:33h
Mortgages are marketed or offered by various kinds of lenders. Your mortgage can be obtained from mortgage brokers, banks, credit unions, and mortgage bankers, in which generally, the creditor receives an origination fee or brokers fee when dealing with mortgage brokers.
The creditor then is the one which provides you, the debtor with all the cash in the final table, whereby the creditor obtains a note or written contract as proof of your debt and your obligation to the commitment and responsibility to repay, along with a legal claim on your premises.
Mortgage brokers never lend, they are independent contractors supplying the various loan products or deals of many lenders, referred to as wholesalers.