A person, company or entity that originates mortgages.
Their primary business is to earn the fees derived from originating the
loan. After originating the mortgage, the Mortgage Banker may retain
he loan, service the loan or sell the loan to investors.
Mortgage Bankers are different from mortgage brokers. Mortgage
Bankers close mortgages in their own name while mortgage brokers
work in conjunction with other financial institutions and close the
mortgages in the name of those lending institutions.