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Jennifer is a mortgage broker. Harold is a mortgage banker. How would you describe the differences in Jennifer and Harold’s duties and functions?

A Jennifer finds the loan. Harold funds it.

A mortgage banker is a person whose principal business is originating, funding and servicing loans secured by real property for mortgage brokers and institutional lenders on a contractual basis. A mortgage broker “shops” a borrower’s loan, competitively locating a lender to fund the loan on the terms sought by the borrower.