· Before we delve in the step-by-step process of how to become a mortgage broker, let’s review the crucial position that brokers take in the field. What does a mortgage broker do? Mortgage brokers are an essential element in the real estate industry processes, serving as the connecting point between buyers and lending institutions.
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· Mortgage brokers may have less control over your loan file because it’s not underwritten in-house like with a mortgage banker. Failing to do your research on mortgage brokers could mean ending up with a broker who improperly structures your loan, delays your closing date or makes the homebuying process tedious and difficult.
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