A responsible, knowledgeable mortgage broker can mean the difference between living happily ever after and settling for a mortgage. Since 1986, East West Mortgage has been helping homebuyers with their mortgage needs and in that time we have grown into one of the powerhouses of the mortgage industry. As your premier mortgage brokerage, our main priority is your satisfaction. We offer a variety of loan programs as well as competitive low rates to ensure that our programs conform to your needs. Before getting started, here is a bit of general information about mortgage officers.
Mortgage Broker vs. Loan Officer
With so many terms thrown around in the mortgage industry, knowing the difference between two terms that seem like they mean the same thing can get confusing. The difference between a loan officer and a mortgage broker is mainly that the loan officer works under the license of an institution while the mortgage broker is licensed with the state, and therefore is personally liable for any fraud over the life of the loan. Mortgage brokers and loan officers share similar responsibilities, but since mortgage brokers work on their own, they generally make more money per loan; loan officers, however, can obtain many more leads through their lender network and therefore have more applicants available.
Responsibilities of a mortgage broker include:
- Marketing to attract clients
- Assessment of the borrower’s circumstances.
- Searching the market to find a mortgage product that fits the client’s needs.
- Applying for a lenders agreement in principle (pre-approval)
- Gathering all of the necessary documents
- Completing a lender application form.
- Making sure the client understands the legal disclosures.
- Submitting all of the previously mentioned material to the lender.
Whether this is your first time buying a home or you have had experience with mortgage loans before, you will find that East West Mortgage has much to offer its clients. Benefits include a wide variety of mortgage loan programs at competitive low rates as well as free mortgage tools, such as mortgage calculators, available to the public. Low mortgage rates aren't the only thing that made East West Mortgage what it is, we also offer unrivaled customer service as well as over 20 years of experience in the mortgage industry, ultimately making us one of the largest mortgage brokerages in the nation. By attaining a mortgage loan program with East West Mortgage, you will find out why our customers keep coming back to us for their mortgage needs. To start saving money, call us today at 1-800-880-4202!
