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Home > Financial Services > Mortgage Brokers > Butler Mortgage Company
Butler Mortgage Company
A Mortgage is a document that contains the details of an agreement between two parties. One of which is a borrower and the other party is a lender. The Agreement will include information like, Loan amount, Time period of the loan, Interest and the collateral on the loan, which is normally, the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee, which is usually a percentage of the loan or property amount.
When you are looking to get a mortgage loan, you may work with a loan officer or you may choose to work with a mortgage broker. People often confuse the two job types even though both will glean the same results, a new home. However, it is important to understand the difference between the two types of jobs so you know what to expect from them during the mortgage application process.
A mortgage broker is an individual or firm that acts as an independent agent for both the borrower and the lender of a mortgage loan. Mortgage brokers are the middleman between you and the lending institution, which can be a bank, trust company, credit union, Mortgage Corporation, finance company or even an individual private investor. A mortgage broker will analyze your financial situation to determine which lender is the best fit for your loan needs. He or she will submit your mortgage application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. He or she receives a commission from the borrower if the loan closes.
It is the policy of Butler Mortgage Company to comply with the privacy requirements of all state and federal statutes, in particular the Graham Leech Bliley Act. They hold personal and transactional information in the strictest confidence. Within 3 days of receipt of a mortgage loan application, they send their privacy policy to loan applicants. Respecting and protecting customer privacy is vital to their business. The provisions of their policy apply to former customers as well as current customers unless stated otherwise.
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