- Job Descriptions
- Mortgage Broker
Responsible for working on behalf of the mortgage lender and borrowing individual by assembling and verifying all closing documents required by title insurance company and initializing loans.
- Work with various lenders to find the best deal for a homebuyer.
- Originate loans to sell to lending institutions.
- Act as an intermediary between a lender and a borrower who needs a mortgage loan.
- Evaluate pay stubs, credit history, tax information and bank statements for financial status.
- Work to ensure compliance with banking and or finance laws in the jurisdiction of the consumer.
- Sell loans in the name of other organizations and businesses.
- Verify the income of the borrower as well as gather their credit information.
- Follow through with lender and client during approval process.
- Explain the legal aspects of the loan to the borrower as well as the payment terms and clauses to them.
- Define repayment terms to consumer and educate them on default consequences