The basic distinction between mortgage bankers and mortgage brokers is:?
Tuesday, February 12th, 2008Pr0ject asked:
1.The basic distinction between mortgage bankers and mortgage brokers is:
1.The basic distinction between mortgage bankers and mortgage brokers is:
a.Mortgage bankers originate loans using their own capital and a line of credit while mortgage brokers do not.
b.Mortgage brokers originate loans using their own capital and a line of credit while mortgage bankers do not.
c.Mortgage brokers are not involved in originating new loans but only service existing loans.
d.None of the above.
2.PMI provides protection for the ______ in the event of mortgage default.
a.Borrower
b.Seller
c.FHA
d.Lender
Question posted courtesy of: Charlotte
