What is a Lender ??

There are a number of different types of lenders in today's mortgage market. The most common include:

Banks - The classic lender, a bank uses its own assets to fund a loan.
Mortgage Banks - A mortgage banking firm uses its own funds or credit line to fund a loan; however, the firm recoups this investment by immediately selling the loan to other investors.
Mortgage Brokers - A mortgage broker represents another lender or investor. The brokerage does not use its own capital to fund the loan - it acts only as a representative.
There is often little practical difference between these types of lenders. Homebuyers should find the lender offering the package that best suits their specific needs

More Real Estate Related Terms

- Escrow or Settlement Agent - Exchanges - Executive Officer (Acting) - Executive Officer (CEO / EVP) - Executive Secretary (Elected Volunteer)

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