Mortgages, loans, financial matters

Profit is made when the loan moves from retail to wholesale.  The mark-up or profit on a loan originated by a broker is made when the loan closes.  This extra amount is on the settlement sheet and paid directly to the broker. The mark-up/profit on a loan originated by a bank is made when the [...]

Non-conforming loans such as jumbo programs are usually sold to the secondary mortgage market in much the same way as conforming loans are sold through Fannie Mae and Freddie Mac. Instead, it is usually private financial institutions who purchase from lenders across the nation those non- conforming loans that meet each institution’s guidelines. That private [...]