Allwin Capital serves as an independent mortgage brokerage.

Before embarking on the process of seeking a new mortgage loan, you should know the difference between a mortgage broker and a retail loan officer.

About Mortgage Brokers

Independent mortgage brokers and loan consultants are specialists in real estate loans who offer a higher level of personalized service, flexibility, and convenience in service of their clients.

Mortgage brokerages are agencies who represent the interests of potential borrowers, or clients, to the market of wholesale lenders, which is comprised of banks, credit unions, trust companies, finance companies, mortgage corporations, and even private investors.

Loan consultants, acting as part of a brokerage, or as individuals, perform a variety of essential services on behalf of the client:

• Perform an analysis of the client’s loan requirements, financial resources and qualifications
• Provide a recommendation of the ideal lender and loan option from the broker’s lending portfolio
• Act as the client’s guide, and liaison to the lender during the formal application and loan process

Because mortgage brokers represent a broad range of lenders, they can offer a wider range of loan options, and also accommodate a wider set of qualifications from borrowers who might be turned down by a traditional bank.

Traditional Retail Loan Officers

Retail loan officers represent a specific retail lending institution (such as a bank) and process mortgages and other types of loans solely from their employer. They may be able to market loans to fit various situations, but every one of their loan products drawn from a solitary source.  If a loan officer cannot find a suitable loan to best fit your circumstances or qualifications from their own lineup, they have no other alternatives to consider.