| The Mortgage
Business has two type of Mortgage Companies. The first is called a Mortgage
Banker. This is a company that funds it's own loans. The advantage to this type
of lending is faster service, more choices, and better consistency. Most
Mortgage Bankers can also broker their loans to the hundreds of available
lenders out their. Mortgage Brokers on the other hand can only broker their loans to other lenders. They cannot "fund" their own loans. They have the advantage of having more flexibility in doing their loans but suffer from lack of preferred service. Both offer advantages and disadvantages and both require schooling and licenses in Washington State. Skagit Valley Mortgage is a Mortgage Banker. We have our own product as well as the ability to broker your loan to other lenders for flexibility and availability of programs and rates. |
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