Business / Real Estate / Mortgage Broker-Company: A person or firm that acts as an intermediary between borrower and lender, one who, for compensation or gain, negotiates, sells or arranges loans and sometimes continues to service the loans, also called a loan broker. Loans originated by the mortgage broker are closed in the lenders name and are usually serviced by the lender. This is in contrast to mortgage bankers, who not only close loans in their own names but continue to service them as well. Many mortgage brokers are also licensed as real estate brokers and provide these financing services as supplements to their realty services.
Business / Real Estate / Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute. MORE