loan broker
A person or entity that specializes in matching homebuyers with appropriate mortgage lenders. Loan brokers (also known as mortgage brokers) make most of their money by marking up the costs on the loan the wholesale lender is offering. Loan brokers provide an easy and effective way to find the cheapest mortgage rates, given the borrower's financial situation and goals. Many states require loan brokers to be licensed.
Category: Real Estate & Rental Property → Buying a House

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • loan broker — UK US noun [C] ► FINANCE a person or a company that arranges loans for people or organizations for a fee …   Financial and business terms

  • loan broker — See personal property loan broker …   Ballentine's law dictionary

  • personal-property loan broker — One who makes a business of making small loans on the security of chattel mortgages on personal property. 40 Am J1st Pawnb § 9 …   Ballentine's law dictionary

  • salary-loan broker — One who engages in the business of making small loans on the security of wage assignments. 40 Am J1st Pawnb § 9 …   Ballentine's law dictionary

  • loan — n 1 a: money lent at interest b: something lent usu. for the borrower s temporary use 2: a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usu …   Law dictionary

  • Loan origination — is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application through disbursal of funds (or declining the application). Loan… …   Wikipedia

  • Broker's call — Broker s call, also known as the Call loan rate, is the interest rate relative to which margin loans are quoted. Individuals may borrow on margin a part of the funds they use to buy their securities from their broker. The broker, in turn, may… …   Wikipedia

  • loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… …   Black's law dictionary

  • loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… …   Black's law dictionary

  • Broker's Call — The interest rate charged by banks on loans made to broker dealers, who use these loan proceeds to make margin loans to their clients. These broker s call loans are payable by the broker dealer on call (i.e., immediately) upon request from the… …   Investment dictionary

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