MORTGAGE CORRESPONDENT
\mˈɔːɡɪd͡ʒ kˌɒɹɪspˈɒndənt], \mˈɔːɡɪdʒ kˌɒɹɪspˈɒndənt], \m_ˈɔː_ɡ_ɪ_dʒ k_ˌɒ_ɹ_ɪ_s_p_ˈɒ_n_d_ə_n_t]\
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A person servicing a loan for a fee for someone else. A mortgage banker differs because the banker originates, sells, and services the mortgage loan. A mortgage broker differs by not originating or servicing mortgage loans, but finds various lenders as buyers, earning income from service fees.
By Henry Campbell Black
Word of the day
dust storm
- a windstorm that lifts up clouds of dust or sand a windstorm that lifts up clouds dust or sand; "it was the kind of duster not experienced in years"