Finance
A Mississippi 'mortgage broker' differs from a 'mortgage lender' in that a mortgage broker:
AUses their own funds to make mortgage loans
BOriginates loans on behalf of borrowers and matches them with lenders, earning a fee but not using their own funds✓ Correct
COnly processes FHA and VA loans
DIs licensed by MREC rather than the state banking department
Explanation
A mortgage broker is an intermediary who originates mortgage loans on behalf of borrowers and places them with lenders. Unlike a direct lender, a mortgage broker does not fund loans with their own capital.
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