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Mortgage Library: Shopping for a Mortgage: Mortgage brokers
|Mortgage brokers handled about $333 billion in mortgage transactions last year -- accounting for about half of all mortgage transactions in the nation. Mortgage brokers have access to a variety of lenders and often offers the most choice in loan programs. They assist the consumer in completing the application and loan
selection process and direct them to suitable lenders to fund the mortgage. Mortgage brokers are paid a fee by the borrower or the lender when a loan closes.
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