A mortgage banker is a company or individual specializing in the origination of residential and/or commercial mortgage loans. Mortgage bankers use their own funds or borrow money to finance these loans. A mortgage banker typically works in the loan department of a bank or a large financial institution.

The mortgage banker is an important advisor to potential borrowers. The banker reviews borrowers' financial status, credit history and other criteria to determine whether they meet the risk requirements that the lender has set. The banker then evaluates and makes recommendations based on the individual's financial situation and credit profile. The banker also offers advice and guidance on the type of mortgage loans that may fit their particular situation best.

Once a borrower has been approved for a loan by a mortgage banker, the banker works as a bridge between the borrower and the lender, ensuring that all documents are in order and that the loan is approved and funded. Mortgage bankers may offer assistance with loan closing, and also keep track of payments from the borrower.

Borrowers are typically charged an origination fee by the mortgage banker, based upon the size and terms of the loan. In addition to the origination fee, mortgage bankers may also receive additional compensation from lenders for originating loans, as well as for other services.

In today’s housing market, the role of the mortgage banker is more important than ever. Mortgage bankers are skilled in helping borrowers find the right mortgage loan that fits their needs. They also provide advice to potential borrowers on the potential pitfalls of taking out a mortgage and the best way to go about obtaining one. With the right mortgage banker, you can make the right decision for you and purchase a home that meets your goals.