1. Feb 17, 2003 #1
   

   GeneralNo2 Member

   Is there a difference in a mortgage broker and a mortgage banker? Or is this just title only?

    

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3. Feb 17, 2003 #2
   

   Nestea Well-Known Member

   A broker finds you a bank, gets a fee, its disclosed to you.
   
   A banker closes in their own name, gets a fee, you never see/know how much.
   
   A banker has more risk, becuase they must buy back a loan if it defaults within X of time.

    

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