QWhat's The Difference Between A Thrift, A Mortgage Banker And A Mortgage Broker?
AThrift is your typical neighborhood bank or savings-and-loan institutions that offer mortgages, savings accounts, and other financial services and product. Mortgage bankers are in the sole business of lending money. Mortgage brokers are middlemen who work on behalf of borrowers. Brokers research a variety of lending sources -- thrifts, commercial banks, and mortgage bankers -- to find loans to suit the specific needs of borrowers they represent.