The big difference between working with a mortgage broker vs. a loan officer comes at the beginning, during the shopping phase, where you’re trying to find the best deal on a mortgage.

A loan officer works for a bank, a credit union, or a mortgage lender and generally offers only the programs and mortgage rates available from that institution. A mortgage broker works on a ...

The questions will cover federal mortgage laws, general mortgage knowledge, MLO activities and more. The cost of the SAFE MLO exam is $110. You’ll need a score of 75% to pass the NMLS exam.

One way to find a mortgage loan officer is through your primary banking institution. As an existing customer, you might even see rate or fee discounts for using your bank to take out a mortgage ...

By Catherine Brock – Updated Sep 24, 2024 at 11:37AM Key Points ...