We are an independent, advertising-supported comparison service. Our mission is to empower you to make more informed financial decisions by giving you access to interactive tools and financial calculators, publishing original and unbiased content, allowing you to conduct free research and information comparisons, and publishing original and objective content. Partnerships between Bankrate and issuers like American Express, Bank of America, Capital One, Chase, Citi, and Discover are just a few examples.
How We Make Money
The offers that show up on this website are from businesses that pay us. This compensation may have an effect on the placement of products on this website and other factors, such as the order in which they may appear within listing categories. However, the information we publish or the user reviews you see on this website are unaffected by this compensation. We exclude the full range of businesses and financial opportunities that may be available to you.
FAQ
Is a loan originator the same as a loan officer?
Mortgage Loan Originator: The Individual A mortgage loan originator is likely to be one of the first people you speak with out of all the parties involved in a mortgage. They may also be referred to as a loan officer.
What is the difference between a loan officer and a mortgage loan originator?
The MLO will continue to assist you with your application, with underwriting, and with making sure you are prepared for closing. Remember, an MLO can be a person or lending institution. The lender is the organization that provides the initial funding for the loan, whereas the loan officer is the person who works with you.
What are the 3 different types of mortgage loan originators?
Retail banks, mortgage bankers, and mortgage brokers are examples of mortgage originators. Mortgage originators are a part of the primary mortgage market because they create loans, but they frequently quickly sell those loans into the secondary mortgage market.
Is being a loan originator worth it?
Unlimited Earning Potential In Addition, the number of loan originators hired is rising quickly. When demand is high and you are prepared to put in the additional work, the chance to increase your earnings is at its highest. Six-figure incomes are common in this industry. The more diligently you work, the more money you will earn.