Loan Application

Mortgage broker- A mortgage broker is a middleman who places a client with different lending institutions but has no real skin in the game.  Oftentimes the broker doesn’t underwrite the loan and has literally no control over the transaction.  The busier the mortgage industry gets, the worse the turn times get for brokers and they are subject to the service given to them by the bank they are placing the loan with.  Since the broker has no control during the process, and is not responsible for the loan past closing, they have little incentive to follow up with post closing services.

Mortgage banker-the mortgage banker is the lender; the one making the loan directly.  The mortgage banker processes, underwrites and funds the loan with their own money.  Even if you use a broker, the lender still makes the ultimate decision as to whether to approve the loan.  The banker has complete control and autonomy through the transaction.  This leads to an easier and faster transaction which makes all parties happier.

Alpha Mortgage made a decision to become a banker 10 years ago and that decision has made a huge impact on both our reputation and our mortgage volume.