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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Broker to Banker
Making The Move Up
Moving from mortgage broker to mortgage banker is a step up in terms of responsibilities.
It is also a perception issue. Many non-industry people see being a mortgage banker as a person who is more professional,
although in reality that may or may not be the case.
The most common way one becomes a mortgage banker (aside from meeting their state's
legal and regulatory requirements) is by obtaining a warehouse line of credit and having the ability to close loans
in their own name.
But that is not the only way for a broker to maintain his own office and become
a mortgage banker.
One is to become part of a net branching company. While several of the largest
operate as mortgage brokers, many others are affiliated with mortgage bankers.
However there is another method. In this Special Report, read about a New Jersey
firm, Stanley Capital, that is acquiring mortgage brokerages and rolling them into its mortgage banking company.
As for the more traditional way of making the move, in this Special Report there
are two observers of the market who give their view about why one should make the move. Warehousing Advisory Services
says control is the issue, while Street Resources points out the economic advantages of being a mortgage banker.
Stewart Mortgage Information is marketing a set of tools to make the transition
easier.
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