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  1. Numbers
    Numbers is offline Member
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    What is difference?

    what is the difference between a mortgage broker bond and a mortgage lender bond?
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  2. Mr. Bond
    Mr. Bond is offline Member
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    Broker vs Lender

    The difference between a Mortgage Broker and a Lender is that a Broker will do the brokering out to financial institutions and not do the actual financial lending themselves.
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  3. Bond Magician
    Bond Magician is offline Senior Member
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    What is difference?

    A mortgage lender actually gives the money out to people as a loan. A broker just finds the loans (through the lenders) and pre-qualifies the applicant. Obviously, there is more risk as a lender if the borrower defaults on the loan.

    Hope that helps!
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  4. Surety Queen
    Surety Queen is offline Surety Professional
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    Mortgage Broker/Lender Bonds

    Quote Originally Posted by Bond Magician
    A mortgage lender actually gives the money out to people as a loan. A broker just finds the loans (through the lenders) and pre-qualifies the applicant. Obviously, there is more risk as a lender if the borrower defaults on the loan.

    Hope that helps!
    Good explanation Bond Magician!

    To apply for either of these bonds, you can follow either of these links to the on-line applications:

    Mortgage Broker Bonds - Instant Surety Bond Quotes
    Mortgage Lender Bonds - Surety Bond Types
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